Median rent is 24% lower in Merritt Island ($1,348/mo vs $1,779/mo). Buying is cheaper in Merritt Island, where the median home runs $379,700 versus $751,700. Households earn more in Merritt Island ($91,020 vs $79,713 a year).
City A
Merritt Island, FL
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Merritt Island, FL?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Merritt Island
Florida
New York
New York
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Merritt Island — median rent of $1,348/mo versus $1,779/mo in New York, a 24% difference. Home buyers face a steeper market in New York: the median home is $751,700 versus $379,700 in Merritt Island — 49% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Florida has no state income tax, while New York tops out at 10.90% — giving Merritt Island a clear advantage for high earners. Sales tax is 6.00% in Florida and 4.00% in New York; New York has the lower rate (local add-ons may apply in both).
Merritt Island
Income tax: None
Sales tax: 6.00%
New York
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is available for New York (avg AQI 61.0) but not yet for Merritt Island.
Pick Merritt Island if you prioritize higher median household income ($91,020/yr).
Pick Merritt Island if you prioritize cheaper rent ($1,348/mo median).
Pick Merritt Island if you prioritize no state income tax.
Is Merritt Island cheaper than New York?
Cost of living index data is not yet available for one or both cities.
How much is rent in Merritt Island vs New York?
Median rent is $1,348/mo in Merritt Island, FL and $1,779/mo in New York, NY. Merritt Island, FL has the lower rent by about 24%.
Which has higher salaries — Merritt Island or New York?
Median household income is $91,020 in Merritt Island, FL and $79,713 in New York, NY. Merritt Island, FL has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Merritt Island or New York?
Florida has no state income tax. New York has a top rate of 10.90%.
What salary do I need in New York to match my Merritt Island income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology