Cost of Living in Merritt Island, FL
Population 34,718 · Florida · Data vintage 2023
(100 = US avg)
Most of Merritt Island's cost indicators track within a reasonable band of national figures, with median household incomes near $91,020 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail.
Merritt Island sits roughly 25 miles north of Palm Bay — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 53% higher than Palm Bay's $248,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Merritt Island
The median home value in Merritt Island is $379,700 — 24% above the national median of $305,000. Median rent runs $1,348/month, 3% higher than the national median of $1,314/month. The median household income of $91,020/year is 22% higher than the US median of $74,580. The local unemployment rate is 4.2%, below the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Merritt Island has a cost of living index of 116 versus the US average of 100, meaning it is 16% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Merritt Island, FL?
Merritt Island has a cost index of 116 (100 = national average). It is 16% above the national average.
What is average rent in Merritt Island, FL?
The median gross rent in Merritt Island is $1,348 per month based on 2023 Census data.
What is the average home price in Merritt Island?
The median home value in Merritt Island is $379,700 according to Zillow and Census data.
What is the median income in Merritt Island?
The median household income in Merritt Island is $91,020 per year (2023 ACS 5-year estimates).
What is the sales tax in Merritt Island, FL?
The combined state and local sales tax rate in Merritt Island is 7.0%. Florida has no state income tax.
Is Merritt Island, FL affordable?
Merritt Island is above average in cost of living, with an index of 116 — about 16% higher than the national average.
Merritt Island at a Glance
- Population
- 34,718
- Median Income
- $91,020
- Home Value
- $379,700
- Median Rent
- $1,348/mo
- Unemployment
- 4.2%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Florida Rankings
Similar Cost Cities
Cities in other states with comparable housing costs