The median home in Merritt Island, Florida is valued at $419,545, down 2.6% year over year. Typical monthly rent is $1,796, producing a price-to-rent ratio of 19.5x — near the national average of 18x. Merritt Island is part of the Palm Bay-Melbourne-Titusville, FL metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

See the full metro analysis: Palm Bay-Melbourne-Titusville, FL stress score, crash risk, and 12-month forecast →

Home Value$419,545

-2.6%

Rent$1,796/mo

AFFORDABILITY

Enter your income for Merritt Island.

Income (annual)

Down Payment

$83,909 on $419,545

Out of reach — 44.4% of income

Need $118,800/yr to afford.

PITI$2,772

P/I44.4%

Afford$265K

Gap-$155K

P&I $2,121Tax $301Ins $350

Renting $976/mo cheaper ($1,796 rent)6.50% 30yr, 20% down, county tax + FL ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Florida

Compare Merritt Island with other housing markets across Florida.

Jupiter Island$9494K Golden Beach$7499K Fisher Island$6393K Lake Buena Vista$6088K Jupiter Inlet Colony$3619K Manalapan$3569K Golf$2871K Boca Grande$2635K

Full Palm Bay-Melbourne-Titusville, FL analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Palm Bay-Melbourne-Titusville, FL metro.

View Palm Bay-Melbourne-Titusville, FL metro →

MERRITT ISLAND, FL