Real Estate Investing in Merritt Island, Florida (32953)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 32953 (Merritt Island, FL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 16.3% of homes vacant — above national norms.
What’s happening in Merritt Island, FL (32953)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 32953 Merritt Island
ZIP 32953 inside Brevard County looks affordable on the surface — median value of $427K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 32953 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 32953 among FL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A sturdy renter share of 25% in 32953 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 32953 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Merritt Island:
Property Strategy for 32953
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $196,550 | $1,520 | 5.6% | +6.5% | $98,275 |
| 3BR | $388,761 | $2,070 | 3.8% | +6.6% | $129,587 |
| 4BR | $563,192 | $2,350 | 3.0% | +7.4% | $140,798 |
| 5BR | $730,324 | — | — | +7.6% | $146,065 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 32953 Compare?
| Metric | 32953 | Merritt Island | Palm Bay-Melbourne-Titusville, FL | Florida |
|---|---|---|---|---|
| Home Value | $426,993 | $433,704 | N/A | $374,697 |
| 5-Year CAGR | 3.8% | 3.9% | N/A | 7.4% |
| Avg Rent | $2,235 | $2,281 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 32953 (Merritt Island, FL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 32953 (Merritt Island, FL)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Brevard County
Manage rentals here? List your business →Solutions Property Management LLC offers residential, multi-family, commercial, and community association property management services in Melbourne, including marketing, tenant screening, rent collect summary from their website
Aamerican Property Management provides services for renters, including rental FAQs, online applications, online payments, and maintenance requests. summary from their website
All Brevard Property Management is a property management company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $426,993 |
| Monthly Rent | $2,235 |
| Price-to-Rent | 15.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +0.8% ▲ |
| 3-Year CAGR | -0.7% ▼ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | +16.2% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 32953
Population: 24,834
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 32953
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the average home sale price in Merritt Island, FL?
Typical homes in Merritt Island, FL go for around $427K. The 5-year CAGR of 0.0% steady price movement.
Is vacancy a concern in Merritt Island, FL?
Rental vacancy in Merritt Island, FL is elevated. Investors should budget normal turnover but not chronic empty units.
Is FL a landlord-friendly state?
Landlord-friendliness in Merritt Island, FL is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Can I house hack in Merritt Island, FL?
Merritt Island, FL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,235/mo rent level.
What kind of tenants rent in Merritt Island, FL?
Merritt Island, FL offers a stable renter base at the $2,235/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 32953 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 32953 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 32953 ranks in Palm Bay-Melbourne-Titusville, FL
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 32953 (Merritt Island)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 32953 (Merritt Island, FL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.