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Real Estate Prices & Overview

Wabasso Beach / Orchid median real estate price is $1,125,549, which is more expensive than 93.2% of the neighborhoods in Florida and 91.2% of the neighborhoods in the U.S.

The average rental price in Wabasso Beach / Orchid is currently $3,797, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.9% of the neighborhoods in Florida.

Wabasso Beach / Orchid is a rural neighborhood (based on population density) located in Vero Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Wabasso Beach / Orchid real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more 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 Wabasso Beach / Orchid neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Wabasso Beach / Orchid. The current real estate vacancy rate here is 38.1%. This is higher than the rate of vacancies in 97.2% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (29.0%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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 Wabasso Beach / Orchid neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Wabasso Beach / Orchid neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Wabasso Beach / Orchid is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, owner-occupied real estate dominates the Wabasso Beach / Orchid neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 99.7% of neighborhoods in America. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 38.1% of the residential real estate vacant, the Wabasso Beach / Orchid neighborhood claims the distinction of having a higher vacancy rate than 97.2% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

People

Of note is NeighborhoodScout's research finding that the Wabasso Beach / Orchid neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Wabasso Beach / Orchid community truly stands out from the rest in this regard.

In addition, if you are planning to retire in Florida, this neighborhood should be on your must-see list. For many reasons, Wabasso Beach / Orchid may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Florida, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 96.2% of neighborhoods in FL. If a Florida retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Wabasso Beach / Orchid neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 12.0% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.1% of all neighborhoods in America.

Diversity

Did you know that the Wabasso Beach / Orchid neighborhood has more English and Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.7% of this neighborhood's residents have English ancestry and 22.6% have Irish 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 Wabasso Beach / Orchid neighborhood in Vero Beach are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 89.5% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Wabasso Beach / Orchid neighborhood, 55.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 30.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (7.9%), and 6.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Wabasso Beach / Orchid neighborhood is English, spoken by 93.7% of households. Some people also speak Spanish (3.4%).

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 Wabasso Beach / Orchid neighborhood in Vero Beach, FL, residents most commonly identify their ethnicity or ancestry as English (24.7%). There are also a number of people of Irish ancestry (22.6%), and residents who report German roots (13.1%), and some of the residents are also of Italian ancestry (7.6%), along with some French ancestry residents (3.4%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Wabasso Beach / Orchid neighborhood spend between 15 and 30 minutes commuting one-way to work (45.3% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (12.0%) who commute over an hour in each direction.

Here most residents (77.7%) drive alone in a private automobile to get to work. 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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