Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 17,317 people, 7,368 houses or apartments, and a median cost of homes of $365,027, Vero Beach real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Vero Beach, accounting for 47.36% of the city's housing units. Other types of housing that are prevalent in Vero Beach include large apartment complexes or high rise apartments ( 36.48%), duplexes, homes converted to apartments or other small apartment buildings ( 8.52%), and a few row houses and other attached homes ( 4.05%).
People in Vero Beach primarily live in small (one, two or no bedroom) single-family detached homes. Vero Beach has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Vero Beach built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Vero Beach built between 1940-1969 ( 31.58%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.16%). There's also some housing in Vero Beach built before 1939 ( 4.21%).
Vacant housing appears to be an issue in Vero Beach. Fully 27.57% of the housing stock is classified as vacant. Left unchecked, vacant Vero Beach homes and apartments can be a drag on the real estate market, holding Vero Beach real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Vero Beach has experienced some of the highest home appreciation rates of any community in the nation. Vero Beach real estate appreciated 184.15% over the last ten years, which is an average annual home appreciation rate of 11.01%, putting Vero Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Vero Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Vero Beach's appreciation rate, at 7.77%, has been at or slightly above the national average. In the latest quarter, Vero Beach's appreciation rate has been 1.11%, which annualizes to a rate of 4.52%.
Relative to Florida, our data show that Vero Beach's latest annual appreciation rate is higher than 90% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Vero Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Vero Beach - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Vero Beach real estate investment or home purchase decisions.
$365,027
for Florida
for nation
7,368
$2,011 / per month