What HUD offices serve Merritt Island, Florida?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Florida Public Housing and Low-Income Apartments Waiting Lists page for openings near Merritt Island.
How many renters live in Merritt Island, Florida?
The City of Merritt Island has people living in households.
There are renters living in renter households in this City. Renters make up 18.59 percent of the population living in Merritt Island.
What is the rental market like in Merritt Island, Florida?
There are an estimated housing units in the Merritt Island area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Merritt Island, Florida, there are 1.26 rental units.
What is the vacancy rate for rentals in Merritt Island?
The rental vacancy rate in Merritt Island is 20 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Merritt Island for each bedroom size?
Occupied Rental Units by Size in Merritt Island
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 180 | 468 | 794 | 892 | 191 |
Occupied Rental Units by Size in Merritt Island
A large number of apartments in Merritt Island have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Merritt Island
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,034 to $2,263. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,034 |
| One BR | $1,214 |
| Two BR | $1,434 |
| Three BR | $1,938 |
| Four BR | $2,263 |
2024 Fair Market Rents in Merritt Island, Florida
How many units are rented at Fair Market Rent (FMR) in Merritt Island?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 125 | 69 percent |
| One BR | 381 | 81 percent |
| Two BR | 593 | 75 percent |
Rental Units Below FMR in Merritt Island, Florida
How many affordable rental units are in Merritt Island?
There are a variety of federal affordable housing programs serving households in Merritt Island, Florida including the following:
| Federal Program | Unit Count |
| Public Housing |
Tracked Units by Federal Program in Merritt Island, Florida
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Merritt Island, Florida
Merritt Island features 429 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Merritt Island, Florida
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Merritt Island.
Housing Choice Vouchers in Merritt Island, Florida
On average, Section 8 Housing Choice vouchers pay Merritt Island landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Merritt Island.
The maximum amount a voucher would pay on behalf of a low-income tenant in Merritt Island, Florida for a two-bedroom apartment is between $1,291 and $1,577.
Sourced from federal housing data and AffordableHousingOnline.com research.