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 4,398 people, 1,587 houses or apartments, and a median cost of homes of $386,272, Verona real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Verona, accounting for 81.97% of the town's housing units. Other types of housing that are prevalent in Verona include mobile homes or trailers ( 6.70%), duplexes, homes converted to apartments or other small apartment buildings ( 5.15%), and a few large apartment complexes or high rise apartments ( 4.06%).
The most prevalent building size and type in Verona are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.92% owning and 37.08% renting.
There is a lot of housing in Verona 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 Verona built between 1940-1969 ( 31.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.07%).
Real estate appreciation rates in Verona's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.10% during the period.
Appreciation rates are so strong in Verona that despite a nationwide downturn in the housing market, Verona real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Verona appreciation rates continue to be some of the highest in America, at 10.11%, which is higher than appreciation rates in 95.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Verona. Verona appreciation rates in the latest quarter were at 4.84%, which equates to an annual appreciation rate of 20.79%.
Importantly, this makes Verona one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that Verona's latest annual appreciation rate is higher than 90% of the other cities and towns in Virginia.
$386,272
for Virginia
for nation
1,587
$1,559 / per month