Average Rent in Merritt Island, FL

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Current Versus Historical Merritt Island, FL Rents

Merritt Island rentals average $1,400 for a 1-bedroom rental to $2,975 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 February 2025, median rents have risen over the last year. Studio rentals prices have decreased by $1,228 (-57.04%) year-over-year from $2,153 to $925. 1-bedroom rentals prices have increased by $94 (7.17%) year-over-year from $1,306 to $1,400. 2-bedroom rentals prices have decreased by $40 (-2.37%) year-over-year from $1,690 to $1,650. 3-bedroom rentals prices have increased by $434 (19.16%) year-over-year from $2,266 to $2,700. 4-bedroom rentals prices have increased by $434 (15.15%) year-over-year from $2,866 to $3,300. 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 3.26% this month. 2-bedroom rents have gone up by 3.94% this month. 3-bedroom rents have gone up by 7.14% this month. 4-bedroom rents have gone up by 4.21% this month.

Beds	Price / Sqft	Feb 2025 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$2.40	$1,400	$1,306 (7.17%)	$1,225 (14.29%)
2 BR	$1.67	$1,650	$1,690 (-2.37%)	$1,550 (6.45%)
3 BR	$1.64	$2,700	$2,266 (19.16%)	$2,083 (29.60%)
4+ BR	$1.64	$3,300	$2,866 (15.15%)	$2,467 (33.78%)

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 5 cities nearby Merritt Island. The average rent in Merritt Island is currently $2,000 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Titusville, FL, with an average rent of $1,500, 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 $2,600 per month.

Let's compare Merritt Island, FL's rent against other top cities nearby by bedroom size. One bedrooms are about 3.57% more expensive. Two bedrooms in Merritt Island, FL are about 0.16% more affordable. Finally, rent for three bedrooms are about 9.38% more expensive. Want more information? Check out the top 5 cities near Merritt Island, FL in the following chart.

City	Studio	1 Bed	2 Bed	All
Titusville, FL	N/A	$1,150	$1,350	$1,500
Melbourne, FL	N/A	$1,350	$1,613	$1,900
Palm Bay, FL	$1,200	$1,100	$1,450	$2,000
Cape Canaveral, FL	N/A	$1,600	$2,000	$2,100
Cocoa Beach, FL	N/A	$2,000	$2,500	$2,600

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, Palm Bay, FL, and Cocoa-Rockledge, FL. The average rent for rentals in these counties is $2,175. That's roughly around $2 per sqft. A total of 4 counties have a lower average rent. The county that is the most affordable is Melbourne, FL. It's average rent per month is $1,975. Vice versa, with an average rent of $2,800, Indialantic-Melbourne Beach, FL is the most expensive county by Merritt Island, FL.

In comparison, rent for one bedroom listings in Merritt Island, FL is on par with the other counties nearby. Finally, rent for two bedrooms in Merritt Island, FL is 2.33% 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	N/A	$1,350	$1,600	$1,975
Palm Bay, FL	$1,200	$1,100	$1,450	$2,000
Cocoa-Rockledge, FL	$1,035	$1,400	$1,685	$2,050
Merritt Island, FL	N/A	$1,400	$1,610	$2,300
Cocoa Beach-Cape Canaveral, FL	N/A	$1,800	$2,200	$2,450
Indialantic-Melbourne Beach, FL	N/A	$1,900	$2,400	$2,800

Top Zipcodes Near Merritt Island

There are a total of 2 zipcodes in or near Merritt Island, FL. The average rent for all of these zipcodes is $1,850. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 32935, Melbourne, FL at $1,800 per month. In comparison, the zipcode with the most expensive average rent of $1,900 per month is 32901, Melbourne, FL.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Merritt Island, FL is $1,325 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,548 per month. Which comes out to $2 per sqft. The following chart includes the top 2 zipcodes in 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	$1,338	$1,595	$1,800
32901, Melbourne, FL	N/A	$1,313	$1,500	$1,900

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 $1,400 and an average price per square feet of $2.40. There are a total of 5 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 $1.67. 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 -0.57%, one bedroom rental prices have changed by 0.07%, two bedroom rental prices have changed by -0.02%, and three bedroom rental prices have changed by 0.19% 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.