32967, Vero Beach, FL

The 32967 zip code of Vero Beach, FL includes a population of over 61,000 people. Home prices in this zip code have increased by an average of 9.5% over the past year, and home equity has grown by an average of 16.4%. The median home value in this zip code is $224,100, and the median household income is $77,500.

The main drivers of home prices and home equity growth in the 32967 zip code are strong job growth and low interest rates. The unemployment rate in this zip code is 3%, which is lower than the statewide unemployment rate of 5%. Additionally, the number of jobs in this zip code has increased by 2% over the past year. This strong job growth has led to increasing demand for homes, which has resulted in higher home prices and greater levels of home equity.

Another important factor contributing to rising home values and growing levels of home equity in the 32967 zip code is low inflation rates. Inflation rates are typically high when there are economic recessionary periods, but inflation rates have been relatively low since the beginning of 2017. This low level of inflation has helped to keep overall costs down for consumers, which has helped to drive up demand for homes and increase prices across all markets throughout Florida.