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Real Estate Prices & Overview

Sunset Lakes / North Merritt Island median real estate price is $597,313, which is more expensive than 73.6% of the neighborhoods in Florida and 73.0% of the neighborhoods in the U.S.

The average rental price in Sunset Lakes / North Merritt Island is currently $2,066, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 71.4% 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 13.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.9% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Merritt Island, the Sunset Lakes / North Merritt Island neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Sunset Lakes / North Merritt Island is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. 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

If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Sunset Lakes / North Merritt Island neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 11.4% executive lifestyle neighborhoods in the state of Florida. 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.

Diversity

Did you know that the Sunset Lakes / North Merritt Island neighborhood has more English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.3% of this neighborhood's residents have English ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this 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 89.3% of the neighborhoods in America. In addition, 2.9% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 71.5% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Sunset Lakes / North Merritt Island neighborhood, 54.4% 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 21.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.9%), and 9.6% 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 92.9% of households. Some people also speak Spanish (2.4%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

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 (21.3%), and residents who report Irish roots (15.2%), and some of the residents are also of Italian ancestry (8.9%), along with some Puerto Rican ancestry residents (5.3%), 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 (43.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.8%) 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 (6.9%) . 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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