Cheap Homes in Merritt Island, FL

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Home Value Estimator For Merritt Island, FL

There are currently 17,755 real estate properties in Merritt Island, FL, with a median automated valuation model (AVM) price of $484,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Merritt Island, FL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Merritt Island, FL, is $562,018.00, with the most expensive house in Merritt Island, FL, topping out at $9,509,700.00 and the cheapest home in Merritt Island, FL, clocking in at $23,700.00. In other words, there’s something for every potential homebuyer or savvy investor in Merritt Island, FL!

Rent Prices In Merritt Island, FL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Merritt Island, FL, is on a rollercoaster ride. The average rent price in Merritt Island, FL, is $1,592.00. Indeed, when looking to rent in Merritt Island, FL, you can expect to pay as little as $620.00 or as much as $3,860.00, with the average rent median estimated to be $1,500.00. The good news is that finding an affordable and desirable property to rent in Merritt Island, FL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Foreclosure Homes in Merritt Island, FL

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Merritt Island, FL area at Get information on foreclosure homes for rent, how to buy foreclosures in Merritt Island, FL and much more. Save thousands at closing with home foreclosure listings in Merritt Island, FL — up to 75% off market value!

Top Reasons To Live In Merritt Island, FL In 2023

Merritt Island is located in Brevard, Florida, with an estimated municipal population of 36,532 residents. All of the best foreclosed homes for sale in Merritt Island are located in the following zip code areas on 32952 32953 32954. The estimated population per square kilometer (.62 miles) in Merritt Island is 805.

Cost Of Living In Merritt Island, FL

So, about how much do homes cost in Merritt Island? The most recent median value of resident-owned homes in Merritt Island is 261,797. An estimated 77.1 percent of households in Merritt Island own their homes, with an average family size of 3.11. The median household income in Merritt Island is 64,865, with28.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Merritt Island, the median commute time of resident workers (in minutes) is 24.1. And last, but certainly not least, are you looking for homes to rent in Merritt Island? If so, the average rent price paid by renters in Merritt Island is 1,019, according to recent statistics.

Diversity And Demographics In Merritt Island, Florida

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Merritt Island, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Merritt Island is 49.4, split between 49.3 percent male versus 50.7 female. The percentage of residents who report being married in Merritt Island is 51.3, with an average family size of 3.11.

The percentage of residents who report their race in Merritt Island is as follows:

White 90.5%
Black / African American 4.6%
Asian 1.6%
American Indian / Alaskan Native 0.2%
Native Hawaiian / Other Pacifc Islander 0.2%
Multi-racial 2.4%
Other 0.6%

Looking for family-friendly neighborhoods in and/or near Merritt Island? Or maybe you are searching for 55+ active adult communities in and/or near Merritt Island?

The percentage of residents who report their age in Merritt Island is as follows:

Under 10 8.9%
Aged 10-19 11.8%
20s 10.3%
30s 8.7%
40s 11.3%
50s 17.6%
60s 15%
70s 10.4%
80+ 5.9%

Best Schools In Merritt Island, Florida

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Merritt Island with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Merritt Island.

Pros And Cons Of Living In Merritt Island, Florida

How do you know that living in -- or moving to -- Merritt Island is right where you need to be? Perhaps you grew up in Merritt Island or already live nearby; therefore, the decision to buy a home in Merritt Island is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Merritt Island for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Merritt Island:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Merritt Island.

Reasons To Move To Merritt Island, Florida, In 2023

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Merritt Island can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Merritt Island, meanwhile, can field multiple offers from more qualified buyers.

Cheap Homes in Merritt Island, FL


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