Foreclosure Homes in Merritt Island, FL 32953

Current Market Conditions in Merritt Island, FL

The real estate market in Merritt Island shows a steady increase in property values, driven by a growing demand for family homes in safe and scenic neighborhoods. Historically, the area has witnessed a balanced mix of buyers, including first-time homeowners and retirees, which supports a diverse market.

Recent trends indicate a rise in interest from out-of-state buyers looking for vacation homes or permanent residences in the warmer climate of Florida. The influx of new residents has led to an uptick in new construction projects and renovations of existing homes.

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 $1,594.00. 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 $1,520.00. 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.