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Real Estate Prices & Overview

Merritt Park Place median real estate price is $438,464, which is more expensive than 49.3% of the neighborhoods in Florida and 54.3% of the neighborhoods in the U.S.

The average rental price in Merritt Park Place is currently $2,102, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 71.3% of Florida neighborhoods.

Merritt Park Place is a suburban neighborhood (based on population density) located in Merritt Island, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Merritt Park Place real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Merritt Park Place neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Merritt Park Place has a 12.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.3% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (12.6%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

Merritt Park Place is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Merritt Park Place is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Merritt Park Place neighborhood is a fantastic option for bicycle commuters, as 5.7% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.6% of the neighborhoods in America.

Diversity

Significantly, 9.8% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Merritt Park Place neighborhood in Merritt Island are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 47.5% of the neighborhoods in America. In addition, 7.1% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 58.2% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Merritt Park Place neighborhood, 58.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 21.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.8%), and 3.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Merritt Park Place neighborhood is English, spoken by 96.3% of households. Some people also speak Italian (9.8%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Merritt Park Place neighborhood in Merritt Island, FL, residents most commonly identify their ethnicity or ancestry as German (17.0%). There are also a number of people of Irish ancestry (12.2%), and residents who report English roots (9.6%), and some of the residents are also of Norwegian ancestry (3.7%), along with some Polish ancestry residents (2.0%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Merritt Park Place neighborhood spend between 15 and 30 minutes commuting one-way to work (36.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (66.1%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (8.7%) and 5.7% of residents also bicycle for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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