32960, Vero Beach, FL

The 32960 zip code of Vero Beach, FL has a median home value of $184,000 and a median home equity value of $142,000. These values are higher than the statewide median home value of $147,500 and the statewide median home equity value of $128,200. The zip code also has a lower than average homeownership rate at just 54%. This indicates that there are many homes in this zip code that are not owned by their occupants.

One reason why the 32960 zip code may have a higher home equity value is because it has a high concentration of luxury homes. Luxury homes typically have a higher price tag and are more likely to be owned by their occupants. Additionally, the area around Vero Beach is known for its luxury resorts and golf courses which may also contribute to the high home equity values in this zip code.

Another reason why the 32960 zip code may have a higher home equity value is because it has a high concentration of single-family homes. Single-family homes typically have more room inside and are less likely to be converted into apartments or condos which can lower their worth. Additionally, single-family homes tend to appreciate faster than apartments or condos which can increase their homeowner's equity over time.