Average Rent in Merritt Island, FL

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Current Versus Historical Merritt Island, FL Rents

Merritt Island rentals average $1,343 for a 1-bedroom rental to $3,350 for a 4-bedroom rental. The median price of all currently available listings is $2,238, or roughly $20 per square feet.

For the apartment units and housing in July 2026, median rents have risen substantially over the last year. Studio rentals prices have increased by $416 (40.18%) year-over-year from $1,034 to $1,450. 1-bedroom rentals prices have increased by $136 (11.26%) year-over-year from $1,207 to $1,343. 2-bedroom rentals prices have decreased by $50 (-3.03%) year-over-year from $1,650 to $1,600. 3-bedroom rentals prices have increased by $303 (12.89%) year-over-year from $2,348 to $2,650. 4-bedroom rentals prices have increased by $192 (6.07%) year-over-year from $3,158 to $3,350. 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 up by 0.88% this month. 2-bedroom rents have gone down by 21.92% this month. 3-bedroom rents have gone up by 12.17% this month. 4-bedroom rents have gone up by 16.86% this month.

Beds	Price / Sqft	Jul 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$25.83	$1,343	$1,207 (11.26%)	$1,224 (9.67%)
2 BR	$19.50	$1,600	$1,650 (-3.03%)	$1,592 (0.52%)
3 BR	$19.26	$2,650	$2,348 (12.89%)	$2,183 (21.37%)
4+ BR	$20.68	$3,350	$3,158 (6.07%)	$2,865 (16.93%)

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 8 cities nearby Merritt Island. The average rent in Merritt Island is currently $2,000 per month. A total of 7 cities nearby have an average rent lower than that. Our records show that Titusville, FL, with an average rent of $1,595, 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 4.49% more expensive. Two bedrooms in Merritt Island, FL are about 5.86% more affordable. Finally, rent for three bedrooms are about 20.75% more expensive. Want more information? Check out the top 8 cities near Merritt Island, FL in the following table.

City	Studio	1 Bed	2 Bed	All
Titusville, FL	$1,100	$1,100	$1,295	$1,595
Cocoa, FL	N/A	$1,250	$1,275	$1,700
Melbourne, FL	$1,300	$1,275	$1,725	$1,900
Rockledge, FL	N/A	$1,290	$1,663	$1,950
Palm Bay, FL	$1,100	$1,250	$1,550	$2,050
Cape Canaveral, FL	$1,150	$1,400	$2,100	$2,100
West Melbourne, FL	N/A	$1,400	$1,738	$2,100
Cocoa Beach, FL	$1,400	$1,975	$2,500	$2,500

Top Neighborhoods Near Merritt Island

There are a total of 1 neighborhoods in or near Merritt Island. One neighborhood in the area is Port Malabar Country Club. We've included all of these top 1 neighborhoods in or near Merritt Island, FL in the following table.

The average rent for these 1 neighborhoods in or near Merritt Island, FL is currently around $1,725 per month. A total of one neighborhood has a lower average rent. Interestingly, the neighborhoods' average rent is less than Merritt Island's average rent, which is actually $2,238. Out of all the neighborhoods in or near Merritt Island, Port Malabar Country Club has the most affordable average rent at $1,725 per month. Whereas, at $1,725 average rent per month, Port Malabar Country Club is the most expensive neighborhood in or near Merritt Island. View the following table for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Port Malabar Country Club, Palm Bay, FL	N/A	$1,300	$1,500	$1,725

Top Counties Near Merritt Island

There are a total of 8 counties located by Merritt Island, FL. Some of these counties include Titusville, FL, Melbourne, FL, and Cocoa-Rockledge, FL. The average rent for rentals in these counties is $2,225. That's roughly around $20 per sqft. A total of 4 counties have a lower average rent. The county that is the most affordable is Titusville, FL. Its average rent per month is $1,598. Vice versa, with an average rent of $3,000, Melbourne Shores-Floridana Beach, FL is the most expensive county by Merritt Island, FL.

In comparison, rent for one bedroom listings in Merritt Island, FL is 1.77% more expensive than other counties nearby. Finally, rent for two bedrooms in Merritt Island, FL is 4.69% more affordable than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Titusville, FL	$1,100	$1,100	$1,298	$1,598
Melbourne, FL	$1,300	$1,295	$1,700	$1,950
Cocoa-Rockledge, FL	$1,150	$1,349	$1,650	$2,000
Palm Bay, FL	$1,100	$1,250	$1,550	$2,050
Cocoa Beach-Cape Canaveral, FL	$1,150	$1,650	$2,300	$2,400
Merritt Island, FL	N/A	$1,343	$1,600	$2,450
Indialantic-Melbourne Beach, FL	$1,600	$1,650	$2,225	$2,700
Melbourne Shores-Floridana Beach, FL	N/A	N/A	$2,300	$3,000

Top Zipcodes Near Merritt Island

There are a total of 8 zipcodes in or near Merritt Island, FL. The average rent for all of these zipcodes is $1,975. A total of 6 zipcodes have an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 32780, Titusville, FL at $1,600 per month. In comparison, the zipcode with the most expensive average rent of $2,650 per month is 32937, Indian Harbour Beach, FL.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Merritt Island, FL is $1,312 per month. Or in other words, $23 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,688 per month. Which comes out to $20 per sqft. The following table includes the top 8 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
32940, Viera West, FL	N/A	$1,450	$1,900	$2,650
32955, Rockledge, FL	N/A	$1,349	$1,675	$2,175
32937, Indian Harbour Beach, FL	N/A	$1,450	$2,125	$2,650
32935, Melbourne, FL	$1,300	$1,275	$1,700	$1,800
32905, Palm Bay, FL	N/A	$1,275	$1,550	$1,700
32780, Titusville, FL	$1,100	$1,150	$1,295	$1,600
32901, Melbourne, FL	$900	$1,275	$1,663	$1,775
32904, June Park, FL	N/A	$1,500	$1,700	$2,150

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 $2,238. 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 one bedroom apartment in Merritt Island, FL?

The average monthly rental price for one bedroom apartments is $1,343 and an average price per square feet of $25.83. There are a total of 4 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 $1,600 and an average price per square feet of $19.50. There are a total of 27 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 0.40%, one bedroom rental prices have changed by 0.11%, two bedroom rental prices have changed by -0.03%, three bedroom rental prices have changed by 0.13% year-over-year.

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

A reasonable rent price in Merritt Island, FL is around $1,790/month. You can search for these reasonably priced rental listings on RentHop.