Vero Beach, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Vero Beach, FL Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Vero Beach Housing Market Information

With 16,919 people, 7,066 houses or apartments, and a median cost of homes of $235,850, 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 46.81% of the city's housing units. Other types of housing that are prevalent in Vero Beach include large apartment complexes or high rise apartments ( 34.98%), duplexes, homes converted to apartments or other small apartment buildings ( 11.99%), and a few mobile homes or trailers ( 3.44%).

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 ( 29.36%). A lesser amount of the housing stock also hails from between 2000 and later ( 6.92%). There's also some housing in Vero Beach built before 1939 ( 4.12%).

Vacant housing appears to be an issue in Vero Beach. Fully 32.95% 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.

Vero Beach Home Appreciation Rates

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 58.24% over the last ten years, which is an average annual home appreciation rate of 4.70%, 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.

Appreciation rates are so strong in Vero Beach that despite a nationwide downturn in the housing market, Vero Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Vero Beach appreciation rates continue to be some of the highest in America, at 18.48%, which is higher than appreciation rates in 99.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Vero Beach. Vero Beach appreciation rates in the latest quarter were at 5.09%, which equates to an annual appreciation rate of 21.95%.

Importantly, this makes Vero Beach one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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.

Average Home Values

 

Median Home Value:
$235,850

Vero Beach, FL HOME PRICES

Value Range
> $1,539,000 7.4
$1,154,001 - $1,539,000 4.1
$770,001 - $1,154,000 12.5
$615,001 - $770,000 7.5
$462,001 - $615,000 10.6
$308,001 - $462,000 11.6
$154,001 - $308,000 20.6
$77,001 - $154,000 20.9
$0 - $77,000 4.8

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
29.2846715328467 43.8297872340426

Number Of Homes And Apartments:
7,066

Vero Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
132.22% 4.47%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,138 / per month

Homeownership Rate

Homeownership
Owners 61.90
Renters 38.10
Vacant 32.95

Housing Market Details

 

Age of Homes

AGE OF Vero Beach HOMES
2000 or Newer 6.9
1970 - 1999 59.6
1940 - 1969 29.4
1939 or Older 4.1

Types of Homes

TYPE OF Vero Beach HOMES
Single-Family 46.8
Townhomes 2.8
Small Apt. Buildings 12.0
Apt. Complexes 35.0
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Vero Beach HOMES
No Bedroom 2.24
1 Bedroom 11.21
2 Bedrooms 50.94
3 Bedrooms 29.36
4 Bedrooms 5.80
5 or more bedrooms 0.46