32968, Vero Beach, FL

The home equity and home prices in the 32968 zip code of Vero Beach, FL are very high. The median home value in this zip code is $259,900, which is significantly higher than the Florida statewide median home value of $157,600. Additionally, the percentage of homes in this zip code that are owned outright is significantly higher than the statewide percentage of homes that are owned outright (77%). This indicates that a large majority of homes in this zip code are owned by individuals or families who have a mortgage.

One reason for the high home equity and home prices in this zip code may be its relatively affluent population. The median household income in this zip code is $101,000, which is considerably higher than the Florida statewide median household income of $50,800. Additionally, the percentage of households in this zipcode that receive public assistance (i.e., welfare or food stamps) is lower than the statewide percentage of households that receive public assistance (10%). This indicates that a majority of households in this zipcode either have their own income or do not rely on government assistance to support themselves.

Another possible explanation for the high home equity and home prices in this zip code may be its low unemployment rate. The unemployment rate in Vero Beach was 2% as of September 2016, which is lower than both the Florida statewide unemployment rate (3%) and the national unemployment rate (4%). This suggests that there are many jobs available here that would allow people to purchase a house if they wanted to.