280 8th Ter, Vero Beach
Indian River County Real Estate - Vero Beach
Vero Beach is in South East Florida. It's population as recorded in the 2010 Census was 15,220. Vero Beach is approximately 25 miles from Port Saint Lucie (population 164,603) and around 30 miles from Palm Bay (population 103,190).
The median age for residents of Vero Beach is 50.9. Around 18.5% of Vero Beach households include school aged children and 42.3% of households include individuals aged 65 years or over. Census records indicate 87.4% of the Vero Beach population are White, 4.8% are Black or African American, .2% American Indian, 1.8% Asian and 1.7% are Two or more Races.
There are 10,258 housing units in Vero Beach. 2,753 (26.8%) of these were reported as vacant in the 2010 Census. Vero Beach is a tourist destination, 41.4% (1,141) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 3,741 residential rental units in Vero Beach. 2,828 of them were occupied in 2010 providing a residential rental vacancy rate of 23.7%.
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Indian River County
Indian River County is part of the southeast region of Florida, along with St. Lucie, Miami-Dade, Palm Beach, Broward, Martin, and Monroe counties. Cities in Indian River County are Vero Beach (county seat), Sebastian, Fellsmere, Indian River Shores, and Orchid. The county?s population is over 135,000 people. Indian River is one of the wealthiest counties in the state and in the nation.
Indian River County has targeted clean energy, information technology, aviation/aerospace, and financial/professional services as its industries for expansion. Major private sector employers are Indian River Medical Center, Publix Supermarkets, Piper Aircraft Inc., Sebastian River Medical Center, and John's Island. Public sector employers are School District of Indian River County, Indian River County, City of Vero Beach, and City of Sebastian.
As with most counties along the treasure coast, tourism is a major industry. Agriculture also plays a large part in Indian River County's economy. Resources produced here include citrus, beef, and honey. Because so much of the economy revolves around agriculture, unemployment is often high in summer months.
The most populous city is Sebastian, home to 22,000. Sebastian Airport is headquarters for Velocity Aircraft. The city is also home to an Indian River State College campus.
Over 15,000 people live in Vero Beach, the seat of Indian River County. One of the largest employers in the county is Piper Aircraft, which maintains their general aviation production facility and headquarters in the city. Vero Beach is a tourist destination, known for golfing, fishing, and surfing. It also hosts a Disney resort.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 300 8th Ter | Single Family | 2,266 | B |
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| 260 8th Ter | Single Family | 2,434 | B |
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| 255 8th Ct | Single Family | 1,290 | B |
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| 225 8th Ct | Single Family | 1,557 | C |
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| 321 8th Ct | Single Family | 1,731 | B |
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| 320 8th Ter | Single Family | 1,902 | B |
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| 240 8th Ter | Single Family | 1,690 | B |
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| 275 8th Ter | Single Family | 1,917 | B |
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| 305 8th Ter | Single Family | 2,364 | B |
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| 255 8th Ter | Single Family | 1,875 | B |
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| 215 8th Ct | Vacant Residential | 0 | L | |
| 331 8th Ct | Single Family | 3,065 | B |
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| 315 8th Ter | Single Family | 2,655 | B |
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| 235 8th Ter | Single Family | 1,931 | B |
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| 340 8th Ter | Single Family | 2,177 | B |
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| 220 8th Ter | Single Family | 1,920 | B |
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| 320 8th Ct | Single Family | 1,583 | C |
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| 205 8th Ct | Vacant Residential | 0 | L | |
| 226 8th Ct | Single Family | 1,919 | B |
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| 330 8th Ct | Single Family | 1,702 | C |
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| 335 8th Ter | Single Family | 2,086 | B |
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| 351 8th Ct | Single Family | 1,716 | B |
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| 215 8th Ter | Single Family | 1,961 | B |
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| 206 8th Ct | Single Family | 1,640 | C |
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| 360 8th Ter | Single Family | 2,827 | B |
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| 340 8th Ct | Single Family | 1,528 | B |
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| 910 2nd St | Single Family | 3,290 | B |
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| 355 8th Ter | Single Family | 1,858 | B |
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| 826 2nd St | Single Family | 2,559 | B |
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| 835 2nd St | Single Family | 1,500 | B |
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| 350 8th Ct | Single Family | 2,155 | B |
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| 845 2nd St | Single Family | 1,450 | B |
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| 825 2nd St | Single Family | 1,644 | B |
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| 9th Ct | Miscellaneous Residential (migrant camp or boarding home.) | 0 | L | |
| 380 8th Ter | Single Family | 2,418 | B |
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| 361 8th Ct | Single Family | 1,673 | B |
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Local Household Income
The median household income in this part of Florida is $56,422. The bottom 10% of the population earn less than $18,447 per year. The top 10% earn more than $165,349 per year. The top 1% earn more than $623,975 per year. Most renters earn between $24,468 (20th percentile) and $43,200 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $112,844 and $141,055.
The tax assessed value of this property places it in percentile 58 of all properties in this area. This suggests it would appeal to someone earning around $66,002 per year who should qualify for a mortgage between $132,004 and $165,005.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $848. Most renters earn between $2,039 and $3,600 per month. They typically spend 35% of their monthly income on rent. Most rents fall in the $625 (20th percentile) to $1,191 (80th percentile) range. The residential vacancy rate is 9%.
This property falls in percentile 58 of all properties in this area. This corresponds to a rent of $904 per month and a monthly household income of $2,946 ($35,352 per year)
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