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Real Estate Prices & Overview

Palm Estates At Vero Beach / Compass Pointe median real estate price is $339,802, which is more expensive than 37.3% of the neighborhoods in Florida and 48.9% of the neighborhoods in the U.S.

The average rental price in Palm Estates At Vero Beach / Compass Pointe is currently $2,598, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.7% of Florida neighborhoods.

Palm Estates At Vero Beach / Compass Pointe is a suburban neighborhood (based on population density) located in Vero Beach, Florida.

Palm Estates At Vero Beach / Compass Pointe real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Palm Estates At Vero Beach / Compass Pointe 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.

Palm Estates At Vero Beach / Compass Pointe has a 13.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 73.3% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (8.9%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.

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 Vero Beach, the Palm Estates At Vero Beach / Compass Pointe neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

An interesting characteristic about the Palm Estates At Vero Beach / Compass Pointe neighborhood is that there are more incarcerated people living here than 99.0% of neighborhoods in the U.S. The United States has the highest rate of incarceration in the world, currently with 1 out of every 100 adults in the country are incarcerated as a punishment for crimes committed. The extremely high incarceration rate of this neighborhood could mean that a prison, juvenile detention facility or other correctional facility occupies a large proportion of the neighborhood, or contains a large portion of the neighborhood's population.

Diversity

Did you know that the Palm Estates At Vero Beach / Compass Pointe neighborhood has more Greek and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.5% of this neighborhood's residents have Greek ancestry and 0.8% have Armenian 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 Palm Estates At Vero Beach / Compass Pointe neighborhood in Vero Beach are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 69.3% of U.S. neighborhoods. In addition, 9.3% 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 52.5% 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 Palm Estates At Vero Beach / Compass Pointe neighborhood, 42.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 23.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.8%), and 13.0% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Palm Estates At Vero Beach / Compass Pointe neighborhood is English, spoken by 85.1% of households. Other important languages spoken here include Spanish, Polish and Tagalog (the first language of the Philippine region).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Palm Estates At Vero Beach / Compass Pointe neighborhood in Vero Beach, FL, residents most commonly identify their ethnicity or ancestry as German (20.4%). There are also a number of people of Irish ancestry (15.1%), and residents who report Italian roots (14.6%), and some of the residents are also of English ancestry (12.2%), along with some Spanish ancestry residents (4.0%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Palm Estates At Vero Beach / Compass Pointe neighborhood spend under 15 minutes commuting one-way to work (51.8% of working residents), one of the shortest commutes across America.

Here most residents (83.6%) 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 (7.1%) . 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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