Landlord Resources
How to Get a Loan for a Rental Property
Rental property loans differ from traditional mortgages, needing larger down payments, higher interest rates, and reserves, often disregarding projected rental income.
•11 min read
What to Know About
Life in Merritt Island & Beyond
Merritt Island shares many of the great qualities that make Florida a desirable place to live.
Florida is a sunshine-filled state known for its beautiful beaches, warm weather, and world-famous theme parks like Walt Disney World, Universal Studios, and Sea World. From its iconic beaches to vibrant cities, you have a unique blend of outdoor adventure and urban excitement. Explore the state's past by visiting attractions like the Kennedy Space Center, the Museum of Florida History, or the Perez Art Museum Miami. In addition, Florida is home to renowned universities such as the University of Florida and Florida State University, University of Miami.
With hundreds of miles of sandy beaches, crystal-clear springs, and lush everglades, Florida is a paradise for visitors and residents alike. The state is also home to several professional sports teams, including the Miami Dolphins (NFL), Tampa Bay Buccaneers (NFL), Florida Panthers (NHL), Tampa Lighting (NHL), Miami Marlins (MLB), Orlando Magic (NBA), and Miami Heat (NBA). Experience all that Florida has to offer, from its stunning beaches and vibrant atmosphere to its rich traditions and thriving economy.
Discover the magic of living in Florida, where the sun shines bright, the economy thrives, and the quality of life is unparalleled, making it the perfect place to call home.
Rental Market Trends
Merritt Island, FL
As of June 2026, Merritt Island's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Merritt Island's average rent is 9.4% ($197) lower than the Florida average of $2,100 and 5.9% ($106) higher than the U.S. average of $1,797.
Average Rent
$1,903
Monthly ChangeMonth Over Month Change
25.4% ($647)
Yearly ChangeYear Over Year Change
18.1% ($421)
Avg. Days on MarketAverage Days on Market
33
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,475 | 21.7% ($263) | 13.9% ($180) |
| 2 Beds | $1,789 | 19.9% ($297) | 13.4% ($211) |
| 3 Beds | $2,407 | 7% ($182) | 12.2% ($333) |
| Nearby Cities | Average Rent | Avg. Rent vs. Merritt IslandAverage Rent vs. Merritt Island | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Cocoa Beach | $2,245 | 18% ($342) | 31 days |
| Rockledge | $1,609 | 15.4% ($294) | 28 days |
| Cape Canaveral | $2,149 | 12.9% ($246) | 30 days |
| Cocoa | $1,329 | 30.2% ($574) | 28 days |
| Satellite Beach | $1,837 | 3.5% ($66) | 30 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Merritt Island Rental Market FAQs
Explore rental prices, market trends, and availability in Merritt Island, FL.
The average rent in Merritt Island, FL is $1,903 per month.
Homes in Merritt Island typically rent for between $1,033 and $3,129 per month, with an average of $1,903 per month.
In Merritt Island, the average rent for a 1-bedroom home is $1,475 per month, for a 2-bedroom home, $1,789 per month, and a 3-bedroom home is $2,407 per month.
The average rent in Merritt Island is 5.9% ($106) higher than the national average of $1,797 per month.
The average rent in Merritt Island has decreased by 25.4% ($647) in the last month and decreased by 18.1% ($421) over the past year.
The rental market in Merritt Island, FL, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Merritt Island, FL, the average rental stays on the market for approximately 33 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 7 rental properties available in Merritt Island, FL.
Based on the current averages, a household would need an annual income of $71,560 to comfortably afford a 2-bedroom home in Merritt Island.
