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Real Estate Prices & Overview

Sunset Lakes / North Merritt Island median real estate price is $489,775, which is more expensive than 57.6% of the neighborhoods in Florida and 61.3% of the neighborhoods in the U.S.

The average rental price in Sunset Lakes / North Merritt Island is currently $2,208, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.9% of Florida neighborhoods.

Sunset Lakes / North Merritt Island is a rural 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 13.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 73.0% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (6.6%), 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

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.

People

The Sunset Lakes / North Merritt Island neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 94.1% of Florida neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. 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.

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 88.7% of the neighborhoods in America. With 13.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 56.4% of U.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 Sunset Lakes / North Merritt Island neighborhood, 55.7% 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 22.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.4%), and 10.1% in government jobs, whether they are in local, state, or federal positions.

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 (2.9%).

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 Sunset Lakes / North Merritt Island neighborhood in Merritt Island, FL, residents most commonly identify their ethnicity or ancestry as German (27.4%). There are also a number of people of English ancestry (19.0%), and residents who report Irish roots (15.3%), and some of the residents are also of Puerto Rican ancestry (6.8%), along with some Italian ancestry residents (4.6%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Sunset Lakes / North Merritt Island neighborhood spend between 15 and 30 minutes commuting one-way to work (43.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (74.6%) 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 (8.2%) . 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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