Average Rent in Merritt Island, FL

Home » FL » Merritt Island

Current Versus Historical Merritt Island, FL Rents

Merritt Island rentals average $1,275 for a 1-bedroom rental to $3,675 for a 4-bedroom rental. The median price of all currently available listings is $2,300, or roughly $2 per square feet.

For the apartment units and housing in March 2025, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $503 (-35.20%) year-over-year from $1,428 to $925. 1-bedroom rentals prices have decreased by $233 (-15.45%) year-over-year from $1,508 to $1,275. 2-bedroom rentals prices have decreased by $78 (-4.65%) year-over-year from $1,665 to $1,588. 3-bedroom rentals prices have increased by $488 (21.67%) year-over-year from $2,250 to $2,738. 4-bedroom rentals prices have decreased by $399 (-11.92%) year-over-year from $3,349 to $2,950. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.00% this month. 1-bedroom rents have gone down by 11.41% this month. 2-bedroom rents have gone up by 1.44% this month. 3-bedroom rents have gone up by 7.53% this month. 4-bedroom rents have gone up by 7.60% this month.

Beds	Price / Sqft	Mar 2025 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$2.26	$1,275	$1,508 (-15.45%)	$1,008 (26.45%)
2 BR	$1.73	$1,588	$1,665 (-4.65%)	$1,500 (5.83%)
3 BR	$1.68	$2,738	$2,250 (21.67%)	$2,225 (23.03%)
4+ BR	$1.62	$2,950	$3,349 (-11.92%)	$2,616 (12.77%)

Historical Rents in Merritt Island, FL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Merritt Island

There are a total of 6 cities nearby Merritt Island. The average rent in Merritt Island is currently $2,098 per month. A total of 5 cities nearby have an average rent lower than that. Our records show that Titusville, FL, with an average rent of $1,695, is the most affordable city nearby. In contrast, the most expensive city near Merritt Island, FL is Cocoa Beach, FL. Monthly rents here are on average $2,500 per month.

Let's compare Merritt Island, FL's rent against other top cities nearby by bedroom size. One bedrooms are about 21.55% more affordable. Two bedrooms in Merritt Island, FL are about 13.20% more affordable. Finally, rent for three bedrooms are about 4.42% more expensive. Want more information? Check out the top 6 cities near Merritt Island, FL in the following chart.

City	Studio	1 Bed	2 Bed	All
Titusville, FL	N/A	$1,150	$1,475	$1,695
Melbourne, FL	$1,000	$1,425	$1,695	$1,900
Palm Bay, FL	N/A	$1,195	$1,488	$2,095
Cape Canaveral, FL	N/A	$1,675	$1,950	$2,100
Indian Harbour Beach, FL	N/A	$1,800	$2,100	$2,100
Cocoa Beach, FL	$2,050	$2,000	$2,500	$2,500

Top Neighborhoods Near Merritt Island

View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Merritt Island

Some of these counties include Melbourne, FL, Cocoa-Rockledge, FL, and Palm Bay, FL. The average rent for rentals in these counties is $2,169. That's roughly around $2 per sqft. A total of 5 counties have a lower average rent. The county that is the most affordable is Melbourne, FL. It's average rent per month is $1,995. Vice versa, with an average rent of $2,713, Indialantic-Melbourne Beach, FL is the most expensive county by Merritt Island, FL.

Typically, rent for studios in Merritt Island, FL is inf% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Merritt Island, FL is 9.76% more affordable than other counties nearby. Finally, rent for two bedrooms in Merritt Island, FL is 5.43% more affordable than other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Melbourne, FL	$1,000	$1,399	$1,695	$1,995
Cocoa-Rockledge, FL	$975	$1,400	$1,700	$2,000
Palm Bay, FL	N/A	$1,195	$1,495	$2,100
Cocoa Beach-Cape Canaveral, FL	$2,050	$1,900	$2,100	$2,238
Merritt Island, FL	N/A	$1,275	$1,610	$2,300
Indialantic-Melbourne Beach, FL	N/A	$1,800	$2,300	$2,713

Top Zipcodes Near Merritt Island

There is one zipcode in or near Merritt Island, FL. The average rent for this zipcode is $1,800.

The following chart includes the zipcode in or near Merritt Island, FL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
32935, Melbourne, FL	N/A	$1,425	$1,550	$1,800

Frequently Asked Questions - Merritt Island Average Rents

What is the average rent price in Merritt Island, FL?

The average monthly rental price for Merritt Island, FL apartments for rent is approximately $2,300. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Merritt Island, FL rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Merritt Island, FL.

How much is a studio apartment in Merritt Island, FL?

The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 0 studio apartment listings currently available for rent in Merritt Island.

How much is a one bedroom apartment in Merritt Island, FL?

The average monthly rental price for one bedroom apartments is $1,275 and an average price per square feet of $2.26. There are a total of 6 one bedroom apartment listings currently available for rent in Merritt Island.

How much is a two bedroom apartment in Merritt Island, FL?

The average monthly rental price for two bedroom apartments is $1,610 and an average price per square feet of $1.73. There are a total of 14 two bedroom apartment listings currently available for rent in Merritt Island.

How have rent prices in Merritt Island, FL changed this year?

Rent prices for rentals in Merritt Island, FL can fluctuate yearly. Specifically, studio rental prices have changed by -0.35%, one bedroom rental prices have changed by -0.15%, two bedroom rental prices have changed by -0.05%, and three bedroom rental prices have changed by 0.22% year-over-year.

What is a reasonable rent price in Merritt Island, FL?

A reasonable rent price in Merritt Island, FL is around $1,840/month. You can search for these reasonably priced rental listings on RentHop.