Island Lakes

Independent Assessment

Island Lakes' 1987 build date, 301-site count, gated and pet-friendly status, and its ownership/management by Sun Communities, Inc. as a land-lease community were independently confirmed. Because this is a land-lease structure, the true monthly cost of living here is the home's carrying cost plus lot rent, and a current lot-rent figure from Sun Communities was not independently confirmed — buyers should treat any reported home purchase price as incomplete without that number, since lot rent is often a larger ongoing cost than the mortgage on an inexpensive manufactured home.

Who May Find This Community Appealing

Island Lakes suits budget-conscious 55+ buyers who specifically want a barrier-island, water-oriented setting with fishing, boat/RV storage, and Kennedy Space Center launch-viewing as part of daily life, and who are comfortable with a land-lease ownership structure rather than land ownership.

Homes, Builders & Development History

Island Lakes was built in 1987 as a manufactured home community and has 301 total home sites. It is owned and managed on-site by Sun Communities, Inc., a large publicly traded manufactured-housing operator with communities across multiple states. All current activity is resale of existing manufactured homes on leased lots; there is no new-home development within the community beyond individual home replacements on existing sites.

Current Pricing & Market Positioning

Reported home prices for existing manufactured homes range roughly from the low $60,000s to the mid-$100,000s, reflecting the age and size of the housing stock. This price range reflects only the home itself; buyers must add ongoing monthly lot rent (not independently confirmed) to understand the true carrying cost, and should request the current lot-rent schedule directly from Sun Communities before comparing pricing to land-owned alternatives.

New Construction vs. Resale Considerations

All current activity at Island Lakes is resale of existing manufactured homes on leased lots. Buyers should get a manufactured-home-specific inspection, confirm the lease terms and current lot rent directly with Sun Communities, and understand the community's rules on home age/condition standards for lot-lease renewal.

Taxes, Insurance & Special Assessments

Because this is a land-lease community, buyers typically pay property tax on the manufactured home itself (often as tangible personal property) rather than on the underlying land, which is owned by Sun Communities, Inc. Confirm the specific tax treatment for any home under consideration with the Brevard County Property Appraiser. As a barrier-island location, insurance costs — particularly flood and wind coverage — should be independently quoted, since Merritt Island properties generally carry higher premiums than inland Brevard communities.

Community Layout & Lifestyle

Island Lakes centers its lifestyle on its water setting — five internal lakes with fishing piers, plus proximity to the Indian River Lagoon and Banana River — alongside a clubhouse, pool, hot tub, fitness center, and billiards room. Organized social events round out the calendar. The community's gated, pet-friendly design and RV/boat storage cater specifically to buyers who want an active, outdoors-oriented lifestyle at manufactured-home price points rather than a resort-scale corporate amenity campus.

Shopping, Healthcare & Airport Access

Island Lakes sits on Merritt Island, the barrier island between the Indian River Lagoon and Banana River, roughly between Cocoa and Cocoa Beach and within about 15 minutes of Kennedy Space Center and Port Canaveral. It sits farther from Brevard County's Viera commercial corridor (roughly 20-25 minutes) than mainland Melbourne communities, and residents should factor in bridge-dependent commutes and barrier-island hurricane-evacuation planning.

Age Qualification & Material Ownership Restrictions

Island Lakes is consistently described across independent sources, including its own management company, as an age-restricted 55+ manufactured home community. The recorded HOPA certification documentation was not independently reviewed; buyers should confirm current certification and 80/20 occupancy compliance directly with Sun Communities before purchasing.

Tradeoffs & Limitations

Because this is a land-lease community, buyers must budget for ongoing monthly lot rent in addition to the home's purchase price, and should confirm the current rent, any annual rent-escalation terms, and the lease agreement's length and renewal terms before purchasing. As a barrier-island community, buyers should also factor in flood insurance costs and hurricane-evacuation-zone status typical of Merritt Island. The community's amenity set (pool, hot tub, fitness center, clubhouse) is more modest than the large corporate 55+ communities elsewhere in Brevard County.

Comparison With Nearby Communities

Within Merritt Island's manufactured-home segment, Island Lakes is most directly comparable to Merritt Island Village — both are land-lease, age-restricted communities on the island, though Island Lakes is substantially larger (301 sites vs. roughly 106) and offers a more built-out amenity set (lakes, fitness center, RV/boat storage) than the smaller, more waterfront-focused Merritt Island Village.

Current Listings

A connected local agent experienced with manufactured-home and land-lease sales can provide current available homes, recent comparable sales, and the current lot-rent schedule for Island Lakes.

Do residents own the land at Island Lakes?

No — Island Lakes is a land-lease community owned and managed by Sun Communities, Inc. Residents own their manufactured home but lease the underlying lot, so buyers should confirm current lot rent before comparing pricing to land-owned alternatives.

Is Island Lakes age-restricted?

Yes — it is consistently described as an age-restricted 55+ community. Confirm current HOPA certification and occupancy compliance directly with Sun Communities.

How many home sites are in Island Lakes?

301 total home sites, built in 1987.

What amenities does Island Lakes offer?

A gated entry, community pool, hot tub, fitness center, clubhouse, billiards room, five internal lakes with fishing piers, and RV/boat storage, with pet-friendly policies.