Merritt Island, FL
Population 34,718 · Florida
About Merritt Island, FL
Merritt Island is a mid-sized city located in Florida with a population of 34,718 residents according to the latest US Census Bureau American Community Survey data. The median household income is $91,020 per year, which is 21% above the national median of $75,149. The median age of 49.8 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Merritt Island features a median home value of $379,700, which is 55% above the national median of $244,900. This places Merritt Island in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,348, 16% above the national average of $1,163/month. Of the 16,816 total housing units, 81% are owner-occupied (11,227 units) and 19% are renter-occupied (2,640 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Merritt Island shows an unemployment rate of 4.2%, which is near the national rate of 3.7%. The poverty rate stands at 7.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Merritt Island have an average one-way commute time of 24.5 minutes.
Education & Demographics
41.8% of Merritt Island residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.5% White, 0.8% Hispanic or Latino, 4.2% Black or African American, and 1.6% Asian residents, with 7.2% of the population being foreign-born.
Cost of Living in Merritt Island, FL
Compared to national averages, Merritt Island has a median household income of $91,020 (21% above the national median of $75,149). Home values average $379,700, which is 55% above the national median. Monthly rent at $1,348 is 16% above the US average of $1,163. Within Florida, Merritt Island's income is 20% above the state average of $75,893, and home values are 7% above the state median of $353,675.
Why Live in Merritt Island, FL?
Merritt Island offers a strong local economy with a median household income of $91,020, well above the national average, and a well-educated community where 41.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 7.4%, better than the national average. Additionally, the city features short commute times averaging just 24.5 minutes.
Potential considerations include a competitive housing market where the typical home costs $379,700. However, Merritt Island’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Merritt Island has a population of 34,718 with a median age of 49.8 years. Compare Merritt Island with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Merritt Island
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Golden Glades | 35,042 | $49,932 | $346,900 | Compare |
| Panama City | 34,211 | $61,125 | $243,200 | Compare |
| Cooper City | 34,166 | $122,565 | $555,800 | Compare |
| Kendall West | 35,492 | $66,858 | $377,800 | Compare |
| Fruit Cove | 35,609 | $137,906 | $451,600 | Compare |
| Carrollwood | 35,645 | $76,723 | $366,200 | Compare |
| Egypt Lake-Leto | 35,709 | $53,599 | $296,100 | Compare |
| Parkland | 35,799 | $200,156 | $896,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Merritt Island With Other Cities
Frequently Asked Questions about Merritt Island
What is the population of Merritt Island, FL?
The population of Merritt Island, FL is 34,718 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Florida.
What is the median household income in Merritt Island?
The median household income in Merritt Island, FL is $91,020 per year, which is 21% above the national median of $75,149.
What is the median home value in Merritt Island?
The median home value in Merritt Island, FL is $379,700, which is 55% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Merritt Island?
The median monthly rent in Merritt Island, FL is $1,348, which is 16% above the national average of $1,163/month.
What is the unemployment rate in Merritt Island?
The unemployment rate in Merritt Island, FL is 4.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Merritt Island, FL a good place to live?
Merritt Island offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 34,718 and a median age of 49.8, the city appeals to established professionals and retirees.
How educated is Merritt Island, FL?
41.8% of residents in Merritt Island aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Merritt Island?
Key cost-of-living indicators for Merritt Island, FL: median home value is $379,700 (55% above national), median rent is $1,348/month, and median household income is $91,020. The home-value-to-income ratio is 4.2x, a moderate figure by national standards.
What is the poverty rate in Merritt Island?
The poverty rate in Merritt Island, FL is 7.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Merritt Island, FL?
Merritt Island's population is 0.5% White, 0.8% Hispanic or Latino, 4.2% Black or African American, 1.6% Asian, and 2.2% two or more races. 7.2% of residents are foreign-born.