Foreclosure Homes in Merritt Island, FL

Current Market Conditions in Merritt Island, FL

Merritt Island's real estate market has shown steady growth over the past year, with an increase in property values reflecting a growing demand for homes in the area. There is a healthy balance of single-family homes, townhouses, and condos, catering to a diverse range of buyers from first-time homeowners to retirees seeking a peaceful lifestyle by the water.

Recent trends indicate a competitive rental market, driven by the influx of professionals working at the Kennedy Space Center and the surrounding technology and aerospace industries. Investors are increasingly looking towards Merritt Island for rental opportunities, contributing to a robust property market.

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.