Merritt Island, FL Rental Market Trends
Last updated: February 17, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Merritt Island is $1,258, a 0.94% increase compared to the previous year, when the average rent was $1,246.
Studio Apartments at $983 offer the most budget-friendly option with 431 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 659 square feet for $1,183, balancing privacy and affordability.
Two-beedroom units at $1,430 offer 947 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,179 sq ft) for $1,540, suitable for larger households.
Average rent in Merritt Island, FL
Last updated: February 17, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,258 | 752 sq. ft. |
| Studio | $983 | 431 sq. ft. |
| 1 Bed | $1,183 | 659 sq. ft. |
| 2 Beds | $1,430 | 947 sq. ft. |
| 3 Beds | $1,540 | 1,179 sq. ft. |
Merritt Island, FL rent trends
Rental prices in Merritt Island, FL have increased by 0.94% over the past year. The average rent moved from $1,246 to $1,258.
What's the typical rent budget in Merritt Island, FL?
The largest share of rentals in Merritt Island, FL (63%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Merritt Island, FL?
2,640 or 19% of the households in Merritt Island, FL are renter-occupied while 11,227 or 81% are owner-occupied.
How Merritt Island Compares to Other Cities
| City | Average Rent |
|---|---|
| Merritt Island | $1,258 |
| Jacksonville | $1,489 |
| Cape Coral | $1,691 |
| Kissimmee | $1,813 |
| Tampa | $1,997 |
| Miami | $2,710 |
| Fort Myers | $1,741 |
| North Port | $1,715 |
| Lakeland | $1,507 |
| Orlando | $1,793 |
| Port St. Lucie | $2,146 |
| Goldenrod | $1,587 |
| Azalea Park | $1,662 |
| Glencoe | $1,601 |
| Meadow Woods | $2,010 |
| University | $3,015 |
| Fairview Shores | $1,871 |
| Lockhart | $1,661 |
| Fern Park | $1,300 |
| Heathrow | $1,881 |
| Hunters Creek | $1,883 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Merritt Island apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.