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Featured local agent — Merritt Island, FL
Sarah Mitchell
Compass Real Estate · Merritt Island, FL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Merritt Island, FL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$378,750median sale price
How is the Merritt Island, FL housing market right now?
The median home sale price in Merritt Island, FL is $378,750, down 5.2% year-over-year. Homes sell in an average of 87 days with 215 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Merritt Island a buyer's or seller's market?
Merritt Island, FL is currently a leaning buyer's, based on 3.8 months of supply and homes selling in about 87 days. How we determine this →
Homes sold
56
Last 12 weeks
Days on market
87
Average pace
Active listings
215
3.8 months supply
Sale-to-list
93.7%
Below asking
What does the Merritt Island housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $378,750 |
| Median list price | $450,000 |
| Year-over-year price change | -5.2% |
| Average days on market | 87 days |
| Active inventory | 215 listings |
| Months of supply | 3.8 months |
| Sale-to-list price ratio | 93.7% |
| Median price per sq ft | $210/sq ft |
| Homes sold (latest month) | 56 |
| New listings (latest month) | 69 |
| Listings with a price cut | 32.1% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
How much do homes cost in Merritt Island by property type?
How the Merritt Island, FL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $415,000 | $237/sq ft | 41 | 87 days |
| Condo / Co-op | $145,000 | $149/sq ft | 13 | 111 days |
| Townhouse | $311,250 | $231/sq ft | 2 | 72 days |
Source: Redfin · Updated monthly
The Merritt Island housing market is currently classified as a leaning buyer's with a median sale price of $378,750. Prices have fallen 5.2% compared to last year, with homes spending an average of 87 days on market, indicating 3.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.7x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Merritt Island
There are currently 215 homes listed for sale in Merritt Island, Florida. The median listing price is $450K.
Active listings
215
Homes on market
Median list price
$450K
Avg. days on market
87
Days until sale
New this week
69
Newly listed
Who lives in Merritt Island?
Population
34,718
Median income
$91,020/yr
Median age
49.8 years
Owner-occupied
81.0%
College grads
41.8%
Avg commute
24.5 min
Source: U.S. Census Bureau ACS
What are homes worth in Merritt Island?
Zillow home value
$432,079
Zillow rent index
$2,214/mo
Price-to-rent ratio
16.3x
Price-to-income
4.7x
Source: Zillow Research
What is it like to live in Merritt Island?
Merritt Island is a community of approximately 35K residents with a median age of 49.8 years.The median household income is $91,020, which reflects a relatively affluent area with strong earning potential. 41.8% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 81.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 24.5 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Merritt Island offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Merritt Island?
10 schools tracked · 5,731 students
The largest public schools serving Merritt Island, FL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
MERRITT ISLAND HIGH SCHOOL
Grades 9-12 · 1,483 students
EDGEWOOD JR/SR HIGH SCHOOL
Grades 7-12 · 935 students
LEWIS CARROLL ELEMENTARY SCHOOL
Grades PK-6 · 628 students
TROPICAL ELEMENTARY SCHOOL
Grades PK-6 · 619 students
THOMAS JEFFERSON MIDDLE SCHOOL
Grades 7-8 · 543 students
ROBERT L. STEVENSON ELEMENTARY SCHOOL
Grades K-6 · 505 students
MILA ELEMENTARY SCHOOL
Grades PK-6 · 431 students
AUDUBON ELEMENTARY SCHOOL
Grades PK-6 · 420 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Merritt Island, FL?
Want a head-to-head view? Compare Merritt Island side-by-side with any other U.S. city using our market-comparison tool.
Is Merritt Island a good real estate investment market?
For investors evaluating Merritt Island, the price-to-rent ratio of 16.3x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 5.2% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Merritt Island's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Merritt Island's median home price.
Frequently asked questions
What is the average home price in Merritt Island?
The median home sale price in Merritt Island is $378,750, down 5.2% from last year.
How long do homes stay on market in Merritt Island?
Homes typically spend 87 days on market before going under contract.
What is the median income in Merritt Island?
The median household income is $91,020 per year.
Is Merritt Island a buyer's or seller's market?
With 3.8 months of supply, Merritt Island is currently a leaning buyer's.
What is the Zillow home value estimate for Merritt Island?
The Zillow Home Value Index (ZHVI) for Merritt Island is $432,079, representing the typical home value in the area.
What is the median condo price in Merritt Island?
The median condo/co-op sale price in Merritt Island, FL is $145,000, compared to $415,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Merritt Island?
The median single-family home price in Merritt Island, FL is $415,000 (about $237 per square foot).
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