Merritt Island, FL Cost Of Living
Cost Of Living In Merritt Island, FL Summary
Cost of living in Merritt Island research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Merritt Island is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Merritt Island is 114, with 100 being the average.
The cost of living index in Merritt Island is 1.1x higher than the national average.
Merritt Island ranks as the #317 cheapest in Florida out of 459.
Merritt Island ranks as the #4,023 cheapest out of 6,489 in the US.
The median home value in Merritt Island is $427,987.
The median income in Merritt Island is $91,020.
Table Of Contents
Merritt Island's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Merritt Island, FL?
According to the most recent data on the cost of living, Merritt Island has an overall cost of living index of 114, which is 1.1x higher than the national index of 100.
Compared to Florida, Merritt Island has a cost of living index that's 1.2x higher than Florida's index of 97.
The standard of living in Merritt Island ranks as #317 most affordable out of the 459 places we measured in Florida. By definition, that implies Merritt Island ranks as the #142 most expensive place in the Sunshine State.
For more reading on life in Merritt Island, check out:
In Florida
In America
Merritt Island Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Merritt Island. Here is how it fairs on each of the criteria:
The Services index in Merritt Island is 100.
The Groceries index in Merritt Island is 96.
The Health index in Merritt Island is 92.
The Housing index in Merritt Island is 147.
The Transportation index in Merritt Island is 94.
The Utilities index in Merritt Island is 92.
| Living Expense | Merritt Island | Florida | National Average | |
|---|---|---|---|---|
| Overall | 114 | 97 | 100 | |
| Services | 100 | 96 | 100 | |
| Groceries | 96 | 99 | 100 | |
| Health | 92 | 98 | 100 | |
| Housing | 147 | 96 | 100 | |
| Transportation | 94 | 97 | 100 | |
| Utilities | 92 | 95 | 100 | |
Merritt Island, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Merritt Island is $427,987.
The Median Rent in Merritt Island is $1,348.
The Median Income in Merritt Island is $91,020.
The Home Value To Income in Merritt Island is 4.7x.
The Rent To Monthly Income in Merritt Island is 0.18x.
| Statistic | Merritt Island | Florida | United States |
|---|---|---|---|
| Median Home Value | $427,987 | $377,066 | $303,400 |
| Median Rent | $1,348 | $1,564 | $1,348 |
| Median Income | $91,020 | $71,711 | $78,538 |
| Home Value To Income | 4.7x | 5.3x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.26x | 0.21x |
Median Home Value
Median Rent
Median Income
Merritt Island, FL Costs By Category
Detailed Merritt Island Services Costs Vs. Florida
| Item | Merritt Island | Florida |
|---|---|---|
| Shampoo | $1.48 | $1.28 |
| Movie | $13.54 | $12.13 |
| Bowling | $19.87 | $18 |
| Haircut | $26.53 | $24.26 |
| Beauty Salon | $55.13 | $45.56 |
Detailed Merritt Island Groceries Costs Vs. Florida
| Item | Merritt Island | Florida |
|---|---|---|
| Ground Beef | $6.26 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.58 | $4.67 |
| Potatoes | $5.23 | $4.93 |
| Pizza | $13.13 | $12.09 |
| Beer | $11.07 | $10.41 |
| Toothpaste | $3.84 | $3.7 |
Detailed Merritt Island Health Costs Vs. Florida
| Item | Merritt Island | Florida |
|---|---|---|
| Optometrist | $118.44 | $125.68 |
| Doctor | $137.0 | $135.78 |
| Dentist | $125.36 | $113.29 |
Detailed Merritt Island Transportation Costs Vs. Florida
| Item | Merritt Island | Florida |
|---|---|---|
| Gasoline | $3.39 | $3.46 |
| Tire Balancing | $57.07 | $59.92 |
Detailed Merritt Island Utilities Costs Vs. Florida
| Item | Merritt Island | Florida |
|---|---|---|
| All Electricity | $190.71 | $193.99 |
| Phone | $194.67 | $192.25 |
Merritt Island SnackAbility
/10
Cost Of Living In Cities Around Merritt Island
The cost of living varies in the cities and towns around Merritt Island. Here's a quick look at the cost of living in the most populous nearby places:
Melbourne, FL has a cost of living index of 102, 0.9x Merritt Island.
Rockledge, FL has a cost of living index of 108, 0.9x Merritt Island.
West Melbourne, FL has a cost of living index of 110, 1.0x Merritt Island.
| City | Population | Cost Of Living | Vs. Merritt Island |
|---|---|---|---|
| Melbourne, FL | 85,718 | 102 | 0.9x |
| Rockledge, FL | 28,279 | 108 | 0.9x |
| West Melbourne, FL | 27,643 | 110 | 1.0x |
| Port St. John, FL | 24,617 | 99 | 0.9x |
| Cocoa, FL | 19,330 | 91 | 0.8x |
| Viera West, FL | 17,169 | 129 | 1.1x |
| Viera East, FL | 13,082 | 114 | 1.0x |
| Cocoa Beach, FL | 11,341 | 116 | 1.0x |
| Satellite Beach, FL | 11,250 | 118 | 1.0x |
| Cape Canaveral, FL | 9,976 | 107 | 0.9x |
