Brevard County · Palm Bay-Melbourne-Titusville · population 34,518
Where Merritt Island stands
Steady, no major recent move.
Home value trajectory · last 10 years
Zillow ZHVI · monthlyLifestyle scores
Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.
Rent trajectory · last 5 years
Zillow ZORI · monthlyHome value vs rent · indexed to 100
Both rebased at first month of ZORI data (~2015)Rent vs buy
At a 18.9 price-to-rent ratio, Merritt Island is in the 'depends on horizon' zone. Buy if you'll be there 5+ years and value flexibility on the home; rent if you might move, want zero maintenance friction, or expect rates to drop.
How the momentum score breaks down
methodology →Merritt Island has held up across the cycle: home values at $431,185 with +4.9% 5-year CAGR. The bull case is structural — population, location, employer base — and holds even if next year's print is soft.
Merritt Island is in a state where home insurance costs have doubled, climate risk repricing is still in progress, and the buyer pool is constrained by both. The bear case writes itself and is currently winning.
About Merritt Island
Merritt Island is a city in Brevard County, Florida, with an estimated population of 34,518. It anchors the Palm Bay-Melbourne-Titusville metro area. The median home value in Merritt Island is $431,185 as of 2026-04, down 1.4% over the last 12 months. Over the last five years, home values have averaged +4.9% annual growth (-4.6% from the 5-year peak). Rents in Merritt Island average $1,905 per month, roughly flat year-over-year (+2.8%). The composite momentum score is 59 of 100 (Stable). Conditions are neither hot nor cold, so the local fit matters more than market timing.
▲ Bull case
▼ Bear case
Playbook
Lifestyle fit matters more than market timing in a Stable market. Take your time on the home and neighborhood; the macro trend isn't urgent. Negotiate normally.
Price competitively from day one or risk a 60+ day listing. Staging, photography, and presentation matter more in Stable markets than in Hot ones.
Stable cap rates, no big appreciation story to lean on. Underwrite this as a pure cash-flow play — the math has to work on rent alone.
Local safety & alerts
No active National Weather Service alerts for Brevard County right now.
Public-safety links are official .gov sources, not curated by us. Brevard County routes NWS alerts; check the state EM portal for non-weather emergencies.
Neighborhoods of Merritt Island
1 tracked · ranked by median home valueCities like Merritt Island
Run the numbers for Merritt Island
Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.
Climate & natural-disaster risk
State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.
Current weather
Find rentals & listings
Open current Merritt Island listings on the major real-estate sites.
Links open the live search on the destination site — results are always current.
Local sports teams
Major professional teams the Palm Bay-Melbourne-Titusville area cheers for. Detailed stats, schedules, and player pages on intherafters.com.
Local economy & environment
Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.
Cities similar to Merritt Island
Explore other places with comparable momentum or affordability.