Cheap Homes for Rent in Merritt Island, FL from $700 (58 Rentals)

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

property at 803 Rockledge Dr

$1,200

1 Bedroom, 1 Bath Condo for Rent

Available Now

803 Rockledge Dr

RockledgeFL32955
property at 140 Minna Ln

$1,200 - $1,325

2 Bedroom Rentals

Available Now

140 Minna Ln

Merritt IslandFL32953

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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property at 1780 Manta Bay St

$1,300

Studio, 1 Bath Home for Rent

Available Now

1780 Manta Bay St

Merritt IslandFL32952

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 1720 Murrell Rd

$1,395 - $1,650

2 Bedroom Rentals

Available Now

1720 Murrell Rd

RockledgeFL32955
property at 245 Spring Dr

$1,425

2 Bedroom, 2 Bath Condo for Rent

Available Now

245 Spring Dr, Unit 3

245 Spring Dr
Merritt IslandFL32953

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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property at 95 Lucas Rd

$1,475

2 Bedroom Rentals

Available Now

95 Lucas Rd

Merritt IslandFL32953
property at 205 Palmetto Ave

$1,550

2 Bedroom, 2 Bath Condo for Rent

Available Now

205 Palmetto Ave

Merritt IslandFL32953

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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property at 205 Palmetto Ave

$1,550 - $1,700

2 Bedroom Rentals

Available Now

205 Palmetto Ave

Merritt IslandFL32953

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Merritt Island, FL Local Guide

Cheapest Neighborhoods for Apartments in Merritt Island, FL

Pricing Updated: 01/01/2026

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$4,800$1,20041

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. Costa Vue in the Abby Marina neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $934. 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
Costa VueStudioStudio,1BA$934
Cocoa Village FlatsStudioStudio,1BA$950
Marella BayStudioStudio,1BA$999
Addison Cove1 Bedroom 1 Bathroom1BR,1BA$1,099
Villas of Cocoa1 Bd 1 Bath1BR,1BA$1,160
The Sands on ClearlakeOne Bedroom1BR,1BA$1,195
The Lenox at Merritt IslandPalm Shores2BR,2BA$1,195
Vetra Indian Harbour BeachE1Studio,1BA$1,199
Topaz CayMessina1BR,1BA$1,249

Best Value Apartments for Rent in Merritt Island, FL

As of January 01, 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 $1,600 with a $1.34 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$1.34
Harbour PointeTarpon2BR,1.5BA$1.73
Orchid Lake2/2 Bedroom2BR,2BA$0.63
Rivercrest RacquetA-1 Bedroom 1 Bath1BR,1BA$1.57
Park Drive Apartments11BR,1BA$1.63
Marina Isle2 Bedroom 1 Bathroom2BR,1BA$1.82
Costa Vue1 Bedroom 1 Bathroom1BR,1BA$1.71
Addison Cove1 Bedroom 1 Bathroom1BR,1BA$1.91
Marella BayStudioStudio ,1BA$2.00

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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Merritt Island, FL Apartments Map
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Merritt Island, FL Rental Homes Map

Frequently Asked Questions about Merritt Island

What type of rentals are currently available in Merritt Island?

There are currently 282 Apartments for Rent in Merritt Island, FL with pricing that ranges from $579 to $10,174. There are also 289 Single Family Homes for rent, Condos, and Townhome rentals currently available in Merritt Island ranging from $750 to $15,000.

What is the current price range for Rental Homes in Merritt Island?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Merritt Island ranges from $750 to $15,000 with an average monthly rent of $2,849.

How much are larger Three and Four Bedroom Rentals in Merritt Island?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Merritt Island range from $662 to $6,750, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,400 to $8,000. Four Bedroom Single-Family rentals are also available starting from $2,200 and Four Bedroom Apartments start at $3,300.

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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!