Key Largo, FL vs Merritt Island, FL

The cost of living difference between Key Largo, FL and Merritt Island, FL is dramatic. Merritt Island is 34.5% cheaper than Key Largo, a gap that translates to thousands of dollars per year in household expenses. Key Largo has a cost index of 145 while Merritt Island sits at 107, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Key Largo is $1,889/month compared to $1,348/month in Merritt Island — a 40% difference. Home values follow the same pattern: Merritt Island is more affordable at $379,700 median vs $626,300.

Median household income in Key Largo is $78,906 compared to $91,020 in Merritt Island (-13.3%). Merritt Island offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Key Largo spend roughly 28.7% of their income on rent, more than the 17.8% in Merritt Island.

Climate-wise, Key Largo is notably warmer with an average of 76.2°F compared to 73.1°F in Merritt Island. Key Largo receives more rainfall at 56.1" per year compared to 50.8" in Merritt Island.