Cheap Apartments for Rent in Merritt Island, FL from $500 (29 Rentals)

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Search the lowest-cost Apartments available for rent right now in Merritt Island.

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 1420 Avocado Ave

$1,200 - $1,300

1 To 2 Bedroom Rentals

Available Now

1420 Avocado Ave

MelbourneFL32935
property at 1440 Parkway Dr

$1,250 - $1,495

1 To 2 Bedroom Rentals

Available Now

1440 Parkway Dr

MelbourneFL32935

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Cocoa Village Suites
Studio to 4 Bedroom Apartments

Cocoa Village Suites

636 Brevard AveCocoa, FL 32922
  • Utilities Included
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Clearlake Isles
1 to 2 Bedroom Apartments

Clearlake Isles

1546 Clearlake RdCocoa, FL 32922
Senior Living
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Clear Pond Estates
2 to 3 Bedroom Apartments

Clear Pond Estates

811 Crestview DrCocoa, FL 32922
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Riverpark Apartments
1 to 2 Bedroom Apartments

Riverpark Apartments

1304-1305 N Fiske BlvdCocoa, FL 32922
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Rivercrest Racquet
1 to 2 Bedroom Apartments

Rivercrest Racquet

3320 Rivercrest DrMelbourne, FL 32935
  • Utilities Included
Showing Results 1-29, Page 1 of 1

Merritt Island, FL Local Guide

Cheapest Neighborhoods for Apartments in Merritt Island, FL

Pricing Updated: 01/28/2026

Current apartment rentals in the Merritt Island, FL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Merritt Island Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Abby Marina$10,197$97526

Cheapest Available Merritt Island Apartments for Rent

 

The cheapest available apartment rental in Merritt Island, FL is a 2 Beds unit found at Orchid Lake in the Port St John Cocoa West neighborhood priced from $579. Cocoa Village Flats in the Diamond Square neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $950. Here is today’s list of the most affordable Merritt Island apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Orchid Lake2/2 Bedroom2BR,2BA$579
Cocoa Village FlatsStudioStudio,1BA$950
Addison CoveStudioStudio,1BA$975
Marella BayStudioStudio,1BA$999
Villas of Cocoa1 Bd 1 Bath1BR,1BA$1,126
Topaz CayMessina1BR,1BA$1,149
The Sands on ClearlakeOne Bedroom1BR,1BA$1,195
Marina Isle1 Bedroom 1 Bathroom1BR,1BA$1,195
Costa Vue1 Bedroom 1 Bathroom1BR,1BA$1,199

Best Value Apartments for Rent in Merritt Island, FL

As of January 28, 2026 the best value apartment in the Merritt Island area is the $1.56 price per square foot North Island Villas Townhome Model at North Island Villas Rental Homes in the in the Abby Marina neighborhood starting from $2,555. The second greatest value Merritt Island apartment is the Vista Model at The Brittany starting at $1,590 with a $1.33 price per square foot in the Coastal Brevard neighborhood. Here is today’s list of the best values for Merritt Island apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
North Island Villas Rental HomesNorth Island Villas Townhome3BR,2.5BA$1.56
The BrittanyVista2BR,1BA$1.33
Orchid Lake3/2 Bedroom3BR,2BA$1.20
Harbour PointeCobia2BR,1BA$1.92
Rivercrest RacquetA-1 Bedroom 1 Bath1BR,1BA$1.57
Park Drive Apartments11BR,1BA$1.63
Costa Vue1 Bedroom 1 Bathroom1BR,1BA$1.71
Shore View ApartmentsStudioStudio ,1BA$1.84
Topaz CayMessina1BR,1BA$1.94
Villas of Cocoa1 Bd 1 Bath1BR,1BA$1.95

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Best Local Schools in
Merritt Island, FL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Merritt Island, FL Rentals by Map

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See the most popular apartments and homes in Merritt Island, FL

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Frequently Asked Questions about Cheap Merritt Island Apartments

What is the Cheapest Studio apartment in Merritt Island?

Currently the most affordable Cheap Studio Apartment in Merritt Island is at Cocoa Village Flats listed at $950.

How much is rent for a Cheap One Bedroom Merritt Island Apartment?

The lowest price for a Cheap One Bedroom Merritt Island Apartment is $1,099 at Addison Cove.

What is the lowest price for a Cheap Two Bedroom Merritt Island Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Merritt Island is starting from $579 at Orchid Lake.

What is the most affordable Merritt Island Three Bedroom Apartment?

The best deal on a cheap Merritt Island Three Bedroom Apartment rental is at Orchid Lake and starts from $1,363.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.