Merritt Island, Florida Income Statistics
Merritt Island Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Merritt Island Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Merritt Island | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $96,215 | $74,580 | $80,455 |
| Median Personal Income | $67,163 | $52,322 | $60,758 |
| Average Yearly Income Growth | 7.3% | 5.4% | 4.8% |
| Six-Figure Earners | 17.7% | 11.6% | 13.9% |
| $200k+ Households | 17.6% | 11.0% | 13.2% |
The median household income in Merritt Island is about 29% higher than in Florida. Income has been growing faster in Merritt Island (7.3%/yr) than in Florida (5.4%/yr).
About 18% of adults in Merritt Island earn six figures ($100,000 or more) a year, higher than the Florida average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Merritt Island, Florida grew by 71.6% from 2009 to 2024, reaching $96,215 in 2024. That's an average of about 7.3% per year.
Merritt Island has been above the U.S. median household income in most years since 2009, but briefly dipped below it in 2016 (1.1% lower). In 2024 its income was 20% higher.
Income Distribution in Merritt Island
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 6,799 households (48.2% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 16.3% of households in Merritt Island had an income under $35,000 and 28.9% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Merritt Island has a larger share of households earning $200,000 or more (17.6% vs 13.2%) and a smaller share earning $35,000 to $49,999 (7.9% vs 10.1%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 467 | 3.3% | 5.1% |
| $10,000 to $14,999 | 344 | 2.4% | 3.5% |
| $15,000 to $24,999 | 728 | 5.2% | 6.4% |
| $25,000 to $34,999 | 765 | 5.4% | 6.7% |
| $35,000 to $49,999 | 1,111 | 7.9% | 10.1% |
| $50,000 to $74,999 | 2,190 | 15.5% | 15.5% |
| $75,000 to $99,999 | 1,711 | 12.1% | 12.6% |
| $100,000 to $149,999 | 2,714 | 19.2% | 17.4% |
| $150,000 to $199,999 | 1,603 | 11.4% | 9.5% |
| $200,000 or more | 2,482 | 17.6% | 13.2% |
Shares are of all 14,115 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 5,365 residents (17.7% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 20.2% of residents who have any income.
In 2024, 12.0% of Merritt Island residents aged 15 and over reported no personal income, 29.0% had some income but less than $25,000, and 25.4% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Merritt Island has a larger share of residents earning $100,000 or more (17.7% vs 13.9%) and a smaller share earning $25,000 to $34,999 (7.6% vs 9.5%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 3,634 | 12.0% | 12.8% |
| $1 to $9,999 | 3,027 | 10.0% | 11.2% |
| $10,000 to $14,999 | 1,979 | 6.5% | 7.0% |
| $15,000 to $24,999 | 3,749 | 12.4% | 10.5% |
| $25,000 to $34,999 | 2,306 | 7.6% | 9.5% |
| $35,000 to $49,999 | 3,687 | 12.2% | 12.6% |
| $50,000 to $74,999 | 4,166 | 13.8% | 14.3% |
| $75,000 to $99,999 | 2,318 | 7.7% | 8.2% |
| $100,000 or more | 5,365 | 17.7% | 13.9% |
Shares are of the 30,230 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 12.0% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Merritt Island
| Metric | Merritt Island | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.550 | 0.551 | 0.552 |
| Male Median Income | $85,590 | $60,595 | $69,667 |
| Female Median Income | $57,158 | $50,762 | $56,850 |
| Gender Pay Gap | 33.2% | 16.2% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Merritt Island, it is 0.550, about the same as Florida's 0.551, so income here is about as evenly distributed as there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 50% more than women's income in Merritt Island, Florida. Over a 35-year career, a 50% wage gap accumulates to roughly $995,120 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Merritt Island, Florida has narrowed from about 37% to 33% in 2024. Over that period the gap was widest at 37% in 2012, and was narrowest at 17% in 2018. In dollar terms, the gap has widened by $6,982 since 2009.
Employment
| Metric | Merritt Island | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 4.8% | 5.2% |
| Working from Home | 19.1% | 15.7% | 15.0% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 655 people are unemployed in Merritt Island, Florida.
The average commute time in Merritt Island is 20 minutes, shorter than the 23 minutes in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Merritt Island, Florida has fallen from 7.8% to 4.1% in 2024. Over that period the rate peaked at 11.4% in 2014.
Merritt Island has been below the U.S. unemployment rate in most years since 2011, but rose above it in 2013-2018 (as much as 2.3 points higher). In 2024 its rate was 1.1 points lower.
Merritt Island, FL Wealth Compared With Nearby Cities
How Merritt Island, FL compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Merritt Island, FL | 34,963 | $96,215 #1/2 | 7.3%/yr #1/2 | 4.1% #1/2 | 0.550 #2/2 |
| Rockledge, FL | 25,851 | $86,080 | 5.3%/yr | 5.0% | 0.518 |
Conclusion
Considering all these factors, Merritt Island, Florida has an overall wealth index grade of B, making it somewhat better than Florida, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Merritt Island, Florida.
How Rich Is Merritt Island, Florida?
Merritt Island has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $96,215, about 29% higher than the Florida average of $74,580.
How fast is household income rising in Merritt Island, Florida?
Between 2009 and 2024, the median household income in Merritt Island, Florida rose 72%, from $56,078 to $96,215. Over the same years, income here outpaced Florida as a whole: +72% against +57%.
What was the median household income in Merritt Island in 2023?
In 2023, the median household income in Merritt Island, Florida was $91,938, up 11% from $83,192 in 2022. The Florida median that year was $71,864.
What was the median household income in Merritt Island in 2020?
In 2020, the median household income in Merritt Island, Florida was $72,646. By 2024 it had risen 32% to $96,215.
Do many residents of Merritt Island, Florida earn over $100,000?
Yes. 18% of adults in Merritt Island, Florida earn $100,000 or more a year (about 1 in 6), against 12% (about 1 in 9) in Florida. 18% of households have a combined income of $200,000 or more, compared with 11% in Florida.
What is the Gini coefficient in Merritt Island, Florida?
The Gini coefficient in Merritt Island is 0.550. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Merritt Island, Florida?
Since 2009, the income gap between men and women in Merritt Island, Florida has narrowed from about 37% to 33% in 2024. Over that period the gap was widest at 37% in 2012, and was narrowest at 17% in 2018. In dollar terms, the gap has widened by $6,982 since 2009.
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