Home prices are rising and today’s mortgage holders are reaping the rewards. A reward of nearly $457 billion collectively, to be exact.According to Corelogic’s 2019 3rd Quarter Homeowner
What’s It Like To Live On Merritt Island?
Merritt Island is a mid-sized coastal town located in Brevard County, along the eastern Floridian coast. It is the 86th largest community in Florida. As of 2010, 34,743 people called Merritt Island home. The former island is now technically a peninsula and is considered part of the Palm Bay, Melbourne, and Titusville Florida Metropolitan Statistical Area.
Not only is Merritt Island picturesque, but also it is a great place to live and work, as well as raise a family. The area offers some of the highest-ranked schools in Florida. Plus, the Merritt Island National Wildlife Refuge safeguards 140,000-acre nature sanctuary that plays a role in the local beauty.
Merritt Island Weather
There are plenty of days out of the year to enjoy wildlife and coastal living thanks to the fact Merritt Island receives an average of 237 sunny days per year. The high in July is 90 degrees, while the low in January is 51 degrees. On average, the area receives 51.7 inches of rainfall per year. Even 0n Florida’s warmest days with high humidity, living alongside the water helps produce a comfortable breeze that cools things down.
Merritt Island Real Estate Overview
The median sales price for homes on Merritt Island is $246,000. The price per square foot is around $140, that’s an 18% increase year-over-year. This is slightly higher than the state average, but the cost of living remains 2.40% lower than the US average. Year-round sunshine and coastal living doesn’t come cheap, but here you’ll find some of the most affordable luxury coastal homes in the nation. The median rent per month is $1,500.
Merritt Island Demographics
As of 2000, the population density was 2,044.6 people per square mile. The area is racially made up by 90.22% White, 5.31% African American, 0.41% Native American, 1.65% Asian, 0.06% Pacific Islander, 3.83% Hispanic or Latino, 0.68% other races and 1.66% from 2 or more races.
Out of 14,955 total households, 27.1% had children less than 18 years of age. 52.9% were married couples living together. 10.7% were female-run households, and 32.8% identified as non-families. Single individuals lived in 26.8% of homes. The average number of people per household was 2.36.
The median age was 42-years-old. 21.8% of the population was under 18, 6.1% were between 18 and 24, 26.1% were between 25 and 44, 26.2% were between 45 and 64 and 10.8% were 65 and older.
There are 95.3 males to every 100 females. There are 92.3 males for every 100 females 18 and older.
39% of the population is college-educated.
85% of the population is a homeowner.
According to the 2000 census, the median household income was $43,532. The median family income was $52,388.
Unemployment rates are 6.30% with recent positive job growth that should bring unemployment numbers down. There is a good mix of white-collar and blue-collar jobs in the area. Sales jobs are very common and account for 12.18% of local employment, followed by administrative support (11.30%) and managerial positions (11.16%).
The majority of residents (98%) commute by car. The average commute time is 24 minutes, that’s one minute less than the average national commute time of 25 minutes.
If you are moving to the area with school-aged children you will be happy to find the area is home to some of the highest-ranked educational institutions. Schools in the area include:
-Robert Louis Stevenson School of the Arts
-Lewis Carroll Elementary
-Thomas Jefferson Middle School
-Edgewood Junior/Senior High School
-Merritt Island High School
-Merritt Island Christian
-Divine Mercy Catholic Academy
The highest-rated elementary schools are Robert L. Stevenson (10), Lewis Carroll Elementary (9) and Tropical Elementary (9).
The highest-ranked middle schools include Edgewood Junior/Senior High School grades 7-12 (10) and Thomas Jefferson Middle School (8).
The highest-ranked high schools are Edgewood Junior/Senior grades 7-12 (10) and Merritt Island High School (7).
*The highest rating a school can obtain is a 10.
Local Merritt Island public schools spend around $8,917 per student and there are around 16.2 students per teacher.
Communities On Merritt Island:
Merritt Island is peaceful and quiet as they are fewer families with children and very few renters and college students living in the area. If you’re seeking a quiet town to call home this might be the right place for you.
Need help finding the right part of Merritt Island to put down roots or buy a vacation home? Curri Properties is the number one agent in the area. Allow our unmatched expertise help you find the waterfront home you’ve been dreaming about.