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Vero Beach has dubbed itself “Where the Tropics Begin.” The humid subtropical climate, with an average temperature of 82° F, has been described as sultry, luring sun worshippers from colder climates to take up at least part-time residence.
The city is probably best known for serving as the spring training headquarters of the Los Angeles Dodgers. The team began making the annual cross-country trek to historic Dodgertown during World War II, until 2008 when it relocated spring training to Arizona. Since that time, Major League Baseball has assumed control of the facility, renamed The Jackie Robinson Training Complex, in honor of the site’s history as the first racially integrated training center in the South.
Vero Beach was incorporated in 1925 with a geographic area of 13.35 square miles. It is located along the Atlantic Ocean in an area known as the Treasure Coast, which got its name in 1715 when a group of Spanish galleons were lost in a hurricane. Eleven of twelve ships sank, taking cargoes of gold and silver into the deep. In the years following, profiteers and pirates plied the waters from Florida to Cuba searching for these treasures. Gold and silver coins still wash up on beaches periodically.
Today, the area’s treasure resides in tourism. With miles and miles of oceanfront and the Indian River Lagoon, which forms a significant part of the Intracoastal Waterway, Vero Beach is a hub for boating, fishing, water skiing, kayak, diving, and jet-ski fun. Disney’s Vero Beach Resort vacation club attracts a significant number of visitors each year.
Piper Aircraft, a general aviation manufacturer best known for the popular Piper Cub, is headquartered in Vero Beach and is the largest private employer in the area. Aside from tourism, other employment centers on the citrus growth and packing industry, and various service industries. The unemployment rate as of September 2021 was on par with the national average.
Florida vernacular architecture, found in cities across southern Florida, is the dominant style in Vero Beach. Also called Florida Cracker style, the homes are built on a raised foundation to facilitate the air circulation necessary in humid climates. High ceilings allow heat to rise above the living space, and large windows allow cooling cross-breezes. Deep porches or roof overhangs soften the intrusion of sunlight.
Realm’s data analysis indicates that most of the city’s homes were built in 2006 and the Vero Beach housing market shows a few common popular features. As you might expect in such a warm climate, Realm’s data analysis revealed that the most popular home amenity was a swimming pool, cited in 1,099 recent home listings. Roof work, mentioned in 563 listings, and HVAC work, 554 mentions, were the second and third most popular features, which should reassure potential homeowners. Recent work on these critical components (if done well and correctly) can save homeowners costly repairs down the line. Of course, it’s always important to get a thorough inspection before purchasing any home.
Outdoor living is a given in south Florida, and Realm’s data bears this out, with patios also cracking the top five most popular features in the Vero Beach housing market. They were mentioned in 473 recent local listings, while fences got 466 mentions. While none of the recently listed homes were located within a designated wildfire perimeter, Realm’s data shows that 26% of Vero Beach homes were within a flood zone. Part of Vero Beach is located on a barrier island at sea level, so flood insurance may be a necessary expense for some homeowners.
What are the real estate market trends in Vero Beach?
The real estate market in Vero Beach has remained relatively stable during the past several years and can be described as somewhat competitive. Unlike many other Florida cities, as of October 2021 it was a buyer’s market in Vero Beach. That means that the number of homes available for sale is greater than the number of buyers. Many of the homes sold in recent months settled at slightly below asking price, with homes remaining on the market for an average of 51 days. In prior years, homes have remained on the market for as long as 80 days. Home values have increased by a modest 1.6% in the past year.
Is it expensive to live in Vero Beach?
As of October 2021, the cost of living in Vero Beach was 2% lower than the national average. Healthcare, housing, and transportation all clocked in below the national average, with housing costs at a whopping 19% lower. In October 2021, the median sale price was $285,000. Before you pack your bags, however, note that utilities rank significantly higher – 28% higher than the rest of the nation. Keep in mind that the humid, subtropical climate frequently dictates the use of air conditioning 24/7.
Is rental property in Vero Beach a solid investment?
Renting out a home in a beachside town, whether vacation weekly or long-term, is usually a safe bet, and Vero Beach is no exception to this rule. Renters make up slightly more than 26% of residents in the city. Seasonal fluctuations can push that number even higher. As of October 2021, home appreciation values in Vero Beach were 11.9%, and this trend is expected to continue. Purchasing rental property in this community should bring a decent return on investment.
We currently cover most standalone, single-family homes