Luxury Neighborhoods in Merritt Island, FL

What are the most expensive neighborhoods on Merritt Island?

Honeymoon Hill, Paradise Point, Sanders Subdivision, J W Stewarts and Harbor Point sit at the top of Merritt Island, with typical values from about $1.5 million to $2.7 million and direct frontage on the Indian or Banana River.

Drive South Tropical Trail from the Merritt Island Causeway toward the Pineda and you pass most of the island's top of market in fifteen minutes. There is no gated enclave of mansions out here. The expensive homes sit along the water one driveway at a time, behind hedges and oaks planted before the road was paved.

You are not buying a brand name community at this level. You are buying a specific piece of shoreline, and the structure on it is often the least valuable part of the purchase.

What Actually Sets the Price at This Level

Square footage matters least. Price per square foot across the twelve neighborhoods below runs from about $274 to about $674, and the bottom of that range is not smaller houses. It is large houses on lakes instead of navigable river frontage. Four things move the number:

• Water frontage in feet. Not waterfront yes or no. How many feet of shoreline the parcel owns, and whether that water reaches open water without a fixed low bridge in the way.
• Dock, lift and depth. A permitted dock with a working lift is worth more than what it costs to build one, because permitting takes months and not every shoreline gets approved.
• Acreage. One acre is the dividing line here. Below it you hear your neighbor, above it you do not, and price reflects that more than any finish.
• Privacy. A long private drive off Tropical Trail carries a premium over the same house on a through street.

One comparison makes it concrete. Andy Estates sits on one acre lots off Crispin Street, median house near 3,344 square feet, no water at all, typical value around $1,125,000. Harbor Point on the Banana River is nearly the same house at 3,437 square feet on a quarter acre, typical value about $1,527,500. Same house, a quarter of the land, four hundred thousand dollars more.

The Twelve Neighborhoods at the Top of Merritt Island

Honeymoon Hill

Honeymoon Hill is the highest priced address on the island at about $2,675,000 typical, reaching $3,999,000. Everything is on Honeyridge Lane, every parcel runs 1.13 to 1.23 acres, and every home has water and a pool. Houses run 3,967 to 6,371 square feet, built 2004 to 2024, dues $1,000 to $1,800 a year.

Paradise Point

Paradise Point is a Tropical Trail address with Indian River and Banana River frontage on a third to a half acre, typical value near $2,000,000. Homes date from 1950 to 1996, so you are buying land and frontage and deciding later about the structure. Dock and lift are in place on most of it, and there is no association.

Sanders Subdivision

Sanders Subdivision is where the acreage is. Lots run 0.83 to 6.2 acres, all river front along Tropical Trail, with the island's widest price range at $872,500 to $4,950,000 and a typical value near $1,685,000. Most houses were built between 1959 and 1965 and sit on septic, and a six acre riverfront parcel here is close to unrepeatable.

J W Stewarts

J W Stewarts has the most finished boating infrastructure on the island: dock and boat lift on every property, all Indian River front, lots from a tenth of an acre to a full acre. Typical value is about $1,550,000, top end near $3,725,000, no association.

Harbor Point

Harbor Point is a short run of homes on Harbor Point Drive facing the Banana River, all with pools, built 1991 to 2014, ranging 2,471 to 5,628 square feet. It is the exception here twice over: public sewer, and a real association at $350 to $600 a year. It suits a buyer who wants a newer structure, not a 1960s renovation.

Hacienda Del Sol Estates

Hacienda Del Sol Estates spreads across Stewart Drive, Hacienda Drive, Del Sol Drive and Calmes Way on one to two acre lots. Only a third has frontage, but every home has a pool and the houses reach 7,200 square feet, built 1991 through 2025. Typical value is about $1,519,000 at $357 per square foot. You buy house and land here, not shoreline.

Stewarts Homestead

Stewarts Homestead is another Tropical Trail stretch with frontage on both rivers, lots from 0.39 to 2.24 acres, and a dock on five of six properties. Typical value runs about $1,413,750. Build years span 1960 to 2026, so one block holds an original ranch and a new custom home. No association, and septic is the norm.

Horti

Horti sits on Newfound Harbor Drive with Banana River and Sykes Creek water, quarter acre to nearly an acre, homes built 1967 to 1987, typical value about $1,320,000, lifts already installed on part of it. It is the quickest to sell of the waterfront group, about six weeks, so demand for Newfound Harbor frontage outruns supply.

Milford Point Beach

Milford Point Beach is the one central Merritt Island entry, a single street of Banana River and Pelican Creek homes. Lots are the smallest here at a fifth to a third of an acre, yet every home is on water and most have both a dock and a lift. Typical value is about $1,215,000 at only $299 per square foot, and it is the slowest moving address on the list, often six months.

Egrets Cove

Egrets Cove is the shared water model. Only a quarter of the homes on Utopia Circle have private frontage, but the association owns a boat dock, boat slips and a private launch ramp for $168 to $294 quarterly. Lots run one to two acres. Typical value is about $1,149,500, which is what deeded access costs instead of your own seawall.

Andy Estates

Andy Estates is the outlier: one acre lots, a pool on every property, houses of 3,041 to 3,825 square feet built 1987 to 2024, and zero water frontage at about $1,125,000 typical. It has the fastest turnover here, often spoken for within days.

Still Waters

Still Waters is one acre per lot on Stillwaters Drive fronting Honeymoon Lake. The houses are the largest by median at roughly 4,126 square feet, yet price per square foot is the lowest at $274 and typical value is about $1,022,500. That gap is the lesson here: lake frontage without a navigable route out prices very differently from river frontage.

Merritt Island Luxury Comparison

Neighborhood	Typical Value	Water	Typical Lot	Association
Honeymoon Hill	$2,675,000	Banana River, Honeymoon Lake	1.15 acres	$1,000 to $1,800 yearly
Paradise Point	$2,000,000	Indian and Banana River	0.46 acres	None
Sanders Subdivision	$1,685,000	Indian and Banana River	1.37 acres	None
J W Stewarts	$1,550,000	Indian River	0.37 acres	None
Harbor Point	$1,527,500	Banana River	0.24 acres	$350 to $600 yearly
Hacienda Del Sol Estates	$1,519,000	Partial, Indian River	1.12 acres	About $250 yearly
Stewarts Homestead	$1,413,750	Indian and Banana River	0.92 acres	None
Horti	$1,320,000	Banana River, Sykes Creek	0.64 acres	None
Milford Point Beach	$1,215,000	Banana River, Pelican Creek	0.25 acres	None
Egrets Cove	$1,149,500	Community dock and ramp	1.00 acre	$168 to $294 quarterly
Andy Estates	$1,125,000	None	1.01 acres	None
Still Waters	$1,022,500	Honeymoon Lake	1.00 acre	$360 to $500 yearly

Before you write an offer, confirm the acreage on the Brevard County Property Appraiser site, then check the address against the FEMA Flood Map Service Center. Our Brevard County flood zone breakdown explains how to read it.

Frequently Asked Questions

Do luxury neighborhoods on Merritt Island have homeowners associations?

Most do not. Seven of the twelve carry none at all: Paradise Point, Sanders Subdivision, J W Stewarts, Stewarts Homestead, Horti, Milford Point Beach and Andy Estates. Where one exists it is light, generally $250 to $1,800 a year, and road, dock and seawall upkeep stays yours.

Is every waterfront home on Merritt Island navigable to open water?

No. Some frontage is on interior lakes such as Honeymoon Lake, some is on non navigable canals, and some has depth at high tide only. The Canaveral Lock, built in 1965 and sized to pass the first stage of a Saturn rocket, connects the Banana River to Port Canaveral and the Atlantic. Where your dock sits relative to that route is a real number on your value, and our boaters guide covers it.

How long do million dollar homes take to sell on Merritt Island?

It swings by street. Andy Estates typically clears in days, Milford Point Beach can take six months, most of South Merritt Island two to four months.

Related on the Space Coast

• Gated Communities in Merritt Island, FL
• Merritt Island Neighborhoods With Community Lakes, Piers and Parks
• Merritt Island Neighborhoods With No HOA
• Merritt Island Pool Home Neighborhoods
• Quiet Cul-de-Sac Neighborhoods on Merritt Island, FL
• Where Aerospace Workers Live on Merritt Island, FL

Ready to Look at the Top of the Island?

Buying at this level on Merritt Island means reading a survey, a seawall, a dock permit and an elevation certificate before you fall in love with a kitchen. Whether you are buying here or selling a waterfront home, my partner Nichole and I got your back on every one of those documents. I moved here from Rhode Island in 2022 and I have walked these seawalls. Call or text (321) 212-7676, and see how we handle Merritt Island waterfront.

If you are weighing a Space Coast move and want help running the actual numbers on a specific city, neighborhood, or price point in Brevard County, I can put together a side-by-side comparison for you. My partner Nichole and I got your back. Reach out anytime at (321) 212-7676 or www.livingspacecoast.com.