Merritt Island, FL Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

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 100, with 100 being the average.

  • The cost of living index in Merritt Island is 1.0x lower than the national average.

  • Merritt Island ranks as the #250 cheapest in Florida out of 459.

  • Merritt Island ranks as the #3,149 cheapest out of 6,412 in the US.

  • The median home value in Merritt Island is $316,400.

  • The median income in Merritt Island is $78,022.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
100
Merritt Island's Overall Cost Of Living
1.0x
Lower 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 100, which is 1.0x lower than the national index of 100.

Compared to Florida, Merritt Island has a cost of living index that's 1.0x lower than Florida's index of 101.

The standard of living in Merritt Island ranks as #250 most affordable out of the 459 places we measured in Florida. By definition, that implies Merritt Island ranks as the #209 most expensive place in the Sunshine State.

For more reading on life in Merritt Island, check out:

250 out of 459
In Florida
3,149 out of 6,412
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 94.

  • The Groceries index in Merritt Island is 101.

  • The Health index in Merritt Island is 93.

  • The Housing index in Merritt Island is 105.

  • The Transportation index in Merritt Island is 97.

  • The Utilities index in Merritt Island is 101.

Living Expense Merritt Island Florida National Average
Overall 100 101 100
Services 94 98 100
Groceries 101 101 100
Health 93 96 100
Housing 105 108 100
Transportation 97 98 100
Utilities 101 100 100
For more reading on cost of living around Florida, check out:
Merritt Island Cost of Living Vs. FL

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 2017-2021. The key points are:

  • The Median Home Value in Merritt Island is $316,400.

  • The Median Rent in Merritt Island is $1,080.

  • The Median Income in Merritt Island is $78,022.

  • The Home Value To Income in Merritt Island is 4.1x.

  • The Rent To Monthly Income in Merritt Island is 0.17x.

Statistic Merritt Island Florida United States
Median Home Value $316,400 $248,700 $244,900
Median Rent $1,080 $1,301 $1,163
Median Income $78,022 $61,777 $69,021
Home Value To Income 4.1x 4.0x 3.5x
Rent To Monthly Income 0.17x 0.25x 0.2x
Search Homes For Sale In Merritt Island, FL
$316,400
Median Home Value
$1,080
Median Rent
$78,022
Median Income

Merritt Island, FL Costs By Category

Detailed Merritt Island Services Costs Vs. Florida

Item Merritt Island Florida
Shampoo $1.0 $1.06
Movie $10.55 $10.68
Bowling $14.36 $14.67
Haircut $20.89 $18.62
Beauty Salon $54.17 $39.05

Detailed Merritt Island Groceries Costs Vs. Florida

Item Merritt Island Florida
Ground Beef $4.46 $4.22
Fried Chicken $1.27 $1.39
Milk $2.39 $2.05
Potatoes $3.42 $3.29
Pizza $9.66 $10.62
Beer $9.23 $9.38
Toothpaste $1.89 $2.34

Detailed Merritt Island Health Costs Vs. Florida

Item Merritt Island Florida
Optometrist $100.39 $108.57
Doctor $83.46 $116.17
Dentist $97.71 $99.13

Detailed Merritt Island Transportation Costs Vs. Florida

Item Merritt Island Florida
Gasoline $2.1 $2.22
Tire Balancing $49.25 $50.07

Detailed Merritt Island Utilities Costs Vs. Florida

Item Merritt Island Florida
All Electricity $164.06 $167.67
Phone $187.87 $175.64

Merritt Island SnackAbility

7
/10
Overall SnackAbility
Jobs
8/10
Housing
8.5
Affordability
7
Diversity
7
Safety
N/A
Amenities
9
Education
8.5
Commute
6

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 93, 0.9x Merritt Island.

  • Rockledge, FL has a cost of living index of 96, 1.0x Merritt Island.

  • West Melbourne, FL has a cost of living index of 105, 1.1x Merritt Island.

City Population Cost Of Living Vs. Merritt Island
Melbourne, FL 83,500 93 0.9x
Rockledge, FL 27,466 96 1.0x
West Melbourne, FL 25,768 105 1.1x
Port St. John, FL 24,677 87 0.9x
Cocoa, FL 18,891 86 0.9x
Viera West, FL 14,322 113 1.1x
Viera East, FL 12,020 102 1.0x
Cocoa Beach, FL 11,316 110 1.1x
Satellite Beach, FL 11,093 113 1.1x
Cape Canaveral, FL 9,979 97 1.0x

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