:|
:|
:|
:|
 
spacer
Housing Profile
Indian River County, Florida
  • Population, 2015: 143327. Indian River County ranks # 32 of Florida's 67 counties in population.
  • Households, 2015: 63373
  • Homeownership Rate, 2015: 75.2%. Statewide, Florida's homeownership rate is 67.7%.
Population Projections
  • In 2040, Indian River County is projected to have a population of 194194, ranking it # 32 of Florida's 67 counties.

Projected Total Population, Indian River County, 2010-2040

Place 2010 2015 2020 2025 2030 20352040
Indian River County 138028 143327 155303 166395 176303 185602 194194
Notes:  Not Available.
Sources:  University of Florida Bureau of Economic and Business Research, Population Projections; U.S. Census Bureau, 2010 Decennial Census.
Housing Market

Existing Home Values (Based on County Property Appraisers' Just Value)

  • Single Family Home, average just value, 2016: $266894. (Statewide, the average just value of a single family home in Florida in 2016 was $219681).
  • Mobile Home, average just value, 2016: $38652.
  • Condominium, average just value, 2016: $195294.

Home Sales Prices

  • The average sales price for a single family home was $346856 in 2016. The median sales price that year was $190000, compared to a statewide median sales price of $212000.

    Source: Florida Department of Revenue, Sales Data Files

Median Sales Price for Single Family Homes and Condominiums, Indian River County, 1996-2016

Place Housing Type 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20152016
Indian River County Single Family Homes 84950 87000 90000 102600 112000 120000 127400 142500 171100 215000 235000 230000 185000 169000 152450 153200 152500 170000 187000 200000 190000
Indian River County Condominiums 82950 88000 97000 105000 99800 121000 102000 127250 147000 184950 201100 220000 139450 115000 110000 87500 116000 111500 126450 128000 130000
Notes:  Not applicable
Sources:  Florida Department of Revenue, Sales Data Files

Median Gross Rent, Indian River County, 2010-2014 American Community Survey

Place Median Gross RentState Median Gross Rent
Indian River County 861 998
Notes:  American Community Survey is based on a sample of households and therefore involves a margin of error. To find the margin of error for this and other ACS-based tables, see the General Unit Characteristics tool. A "-" indicates that the value in the ACS is not statistically significant from zero.
Sources:  U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Summary File
  • In Indian River County and the surrounding metro area, the HUD Fair Market Rent in 2016, representing rent for a typical modest apartment, was $593 for a studio apartment, $692 for a one-bedroom, $833 for a two-bedroom, $1183 for a three-bedroom, and $1281 for a four-bedroom unit.

    Source: U.S. Department of Housing and Urban Development, 2016 Fair Market Rents

Households by Monthly Rent Paid, Indian River County, 2010-2014

Place <$200 $200-$299 $300-$499 $500-$749 $750-$999 $1,000-$1,499 $1,500 or More No Cash RentTotal
Indian River County 117 181 807 3492 4687 3507 1337 649 14777
Notes:  American Community Survey is based on a sample of households and therefore involves a margin of error. To find the margin of error for this and other ACS-based tables, see the General Unit Characteristics tool. A "-" indicates that the value in the ACS is not statistically significant from zero.
Sources:  U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Summary File

Manufactured Housing Parks and Condominiums

  • There are 37 licensed manufactured housing parks in Indian River with 5276 lots in 2012.
  • There are 414 licensed condominium developments in Indian River with 11785 units in 2012. Of these, 13 properties with 1047 units were converted from rental to condo.

    Source: Florida Department of Business and Professional Regulation

Home Purchase Loans by Property Type, Indian River County, 2005-2014

Application Count
Place County Property Type 2005 2006 2007 2008 2009 2010 2011 2012 20132014
Indian River County Indian River One to four-family (other than manufactured housing) 5390 4357 2689 1467 1303 1129 1056 2996 3631 4542
Indian River County Indian River Manufactured housing 69 42 28 15 9 4 5 12 20 18
Indian River County Indian River Multifamily 5 2 4 1 1 0 3 0 2 4
Notes:  Shows loan applications resulting in loan origination only. For more information, see HMDA User Guide
Sources:  Home Mortgage Disclosure Act data 2005-2014

Foreclosures and Serious Delinquencies

  • The Vero Beach MSA had a foreclosure rate for 1-4 unit homes of 7.49% and a serious delinquency (90+ day) rate of 2.89% in September 2013.

    Source: Analysis of LPI Applied Analytics data by LISC, tabulated by the Urban Institute
Affordable Housing Needs

Cost Burden, General

  • "Cost-burdened" households pay more than 30% of income for rent or mortgage costs. In 2015, 24403 Indian River County households (39%) pay more than 30% of income for housing. By comparison, 42% of households statewide are cost-burdened.
  • 11897 households in Indian River County (19%) pay more than 50% of income for housing.

Households by Cost Burden, Indian River County, 2015

Amount of Income Paid for Housing
0-30% 30-50%50% or more
Total 38970 12506 11897
Notes:  Click here to get household projections by tenure, age of householder, income, and cost burden.
Sources:   Not Available.
Homeowners and Renters

Households by Homeowner/Renter Status and Cost Burden, Indian River County, 2015

Amount of Income Paid for Housing
0-30% 30-50%50% or more
Owner 32533 8099 7053
Renter 6437 4407 4844
Notes:  Click here to get household projections by tenure, age of householder, income, and cost burden.
Sources:   Not Available.

Household Income

  • In the following table, household income is measured as a percentage of the median income for the county or area, adjusted for family size. In Indian River County and the surrounding metro area, the HUD-estimated median income for a family of four is $52800 in 2016.

Households by Income and Cost Burden, Indian River County, 2015

Household Income as Percentage of Area Median Income Amount of Income Paid for Housing
0-30% 30-50%50% or more
<=30% AMI 762 863 4835
30.01-50% AMI 2252 2796 3480
50.01-80% AMI 5146 3640 2034
80.01+% AMI 30810 5207 1548
Total 38970 12506 11897
Notes:  Click here to get household projections by tenure, age of householder, income, and cost burden.
Sources:   Not Available.

Elderly Households

  • 26942 households in Indian River County (42.5%) are headed by a person age 65 or older in 2015. In comparison, 29.6% of households statewide are headed by elderly persons.
  • 22830 of elderly households in Indian River (84.7%) own their homes.
  • 8631 elderly households (32%) pay more than 30% of income for rent or mortgage costs.

Elderly Households by Age and Cost Burden, Indian River County, 2015

Age of Householder Amount of Income Paid for Housing
0-30% 30-49.9%50+ %
65 or more 18311 4485 4146
Notes:  Click here to get household projections by tenure, age of householder, income, and cost burden.
Sources:   Not Available.

Supply Characteristics

Single Family Home Size and Age

  • In 2016, the median size for a new single-family home in Indian River County was 2167 square feet.

Year Structure Built, Indian River County, 2010-2014 American Community Survey

Place Number Share by Decade
2000 or After 1990-1999 1980-1989 1970-1979 1960-1969 1950-1959 1940-1949 1939 or Earlier Total 2000 or After 1990-1999 1980-1989 1970-1979 1960-19691959 or Earlier
Indian River County 21951 15360 18188 12308 4254 3124 592 1009 76786 28.6 20.0 23.7 16.0 5.5 6.2
Notes:  American Community Survey is based on a sample of households and therefore involves a margin of error. To find the margin of error for this and other ACS-based tables, see the General Unit Characteristics tool. A "-" indicates that the value in the ACS is not statistically significant from zero.
Sources:  U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Summary File

Housing Condition Characteristics (Occupied Units), Indian River County, 2010-2014 American Community Survey

Place Persons Per Room House Heating Fuel Kitchen Facilities Plumbing Facilities
1.01 or More Persons per Room Share of Occupied Units (%) No Fuel Used Share of Occupied Units (%) Lacking Complete Facilities Share of Occupied Units (%) Lacking Complete FacilitiesShare of Occupied Units (%)
Indian River County 862 1.5 605 1.1 1276 1.7 803 1.0
Notes:  Housing units are considered to be substandard if they are overcrowded, do not have heat, or lack complete kitchens or plumbing.
American Community Survey is based on a sample of households and therefore involves a margin of error. To find the margin of error for this and other ACS-based tables, see the General Unit Characteristics tool. A "-" indicates that the value in the ACS is not statistically significant from zero.
Sources:  U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Summary File