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Real Estate Prices & Overview

Sunset Lakes / North Merritt Island median real estate price is $561,566, which is more expensive than 76.8% of the neighborhoods in Florida and 76.7% of the neighborhoods in the U.S.

The average rental price in Sunset Lakes / North Merritt Island is currently $2,452, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.3% of Florida neighborhoods.

Sunset Lakes / North Merritt Island 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).

Sunset Lakes / North Merritt Island real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Sunset Lakes / North Merritt Island neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Sunset Lakes / North Merritt Island has a 15.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 77.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Sunset Lakes / North Merritt Island neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Sunset Lakes / North Merritt Island 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.

In addition, owner-occupied real estate dominates the Sunset Lakes / North Merritt Island neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 96.7% of neighborhoods in America.

People

A majority of the adults in the Sunset Lakes / North Merritt Island neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Florida by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 95.9% of the neighborhoods in Florida. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and active retirees.

Diversity

Did you know that the Sunset Lakes / North Merritt Island neighborhood has more English and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.7% of this neighborhood's residents have English ancestry and 1.9% have Hungarian ancestry.

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 Sunset Lakes / North Merritt Island neighborhood in Merritt Island are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 86.3% of the neighborhoods in America. In addition, 6.6% 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 60.4% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Sunset Lakes / North Merritt Island neighborhood, 55.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 22.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.9%), and 8.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Sunset Lakes / North Merritt Island neighborhood is English, spoken by 92.0% of households. Some people also speak Spanish (2.2%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Sunset Lakes / North Merritt Island neighborhood in Merritt Island, FL, residents most commonly identify their ethnicity or ancestry as German (30.2%). There are also a number of people of English ancestry (21.7%), and residents who report Irish roots (14.8%), and some of the residents are also of Puerto Rican ancestry (6.2%), along with some Italian ancestry residents (5.2%), 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 Sunset Lakes / North Merritt Island neighborhood spend between 15 and 30 minutes commuting one-way to work (42.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (74.1%) 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 (9.3%) . 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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Race & Ethnic Diversity
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