Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 4,398, 1,587 total housing units (homes and apartments), and a median house value of $352,399, Verona real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Verona, accounting for 81.97% of the town's housing units. Other types of housing that are prevalent in Verona include mobile homes or trailers ( 6.70%), duplexes, homes converted to apartments or other small apartment buildings ( 5.15%), and a few large apartment complexes or high rise apartments ( 4.06%).
The most prevalent building size and type in Verona are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.92% owning and 37.08% renting.
There is a lot of housing in Verona built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Verona built between 1940-1969 ( 31.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.07%).
Verona's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Verona during the period has been just 4.91%, which is lower than 80% of US communities.
Over the last year, Verona appreciation rates have trailed the rest of the nation. In the last twelve months, Verona's appreciation rate has been 0.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Verona were at 3.27%, which equates to an annual appreciation rate of 13.71%.
Importantly, this makes Verona one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Virginia, our data show that Verona's latest annual appreciation rate is lower than 90% of the other cities and towns in Virginia.
$352,399
for Virginia
for nation
1,587
$1,639 / per month