INDIAN RIVER COUNTY  ― The area of Indian River County designated as the “West Vero Corridor” by the U.S. Census Bureau has been named the most affordable place to live in Florida by the SmartAsset financial website.

The West Vero Corridor is located southeast of the center of Indian River County, extending four miles along both sides of State Road 60 west of Vero Beach. It is bordered to the west by Interstate 95.

According to the United States Census Bureau, the West Vero Corridor has a total area of just under five square miles.

SmartAsset weighed real estate taxes, homeowners’ insurance, and home costs relative to the local median income. Places where home ownership costs were lowest relative to the median income in each location were considered the most affordable.

The analysis included all cities with a population of 5,000 or greater, measuring the total cost of owning a home in each city over a five-year period. That cost was then measured as a proportion of median household income in each place to determine affordability.

According to SmartAsset, in the West Vero Corridor, the average closing costs are $1,957 compared to a Florida average of $4,562; the annual property tax is $663 (Florida average $1,503); the annual homeowner's insurance is $521 (Florida average $1,612); the average annual mortgage payment is $2,330 (Florida average $7,203); and the median income is $41,340 (Florida average $55,660.)

The West Vero Corridor was named the most affordable in the state and #15 in the nation. The only other Treasure Coast city to make the top ten list is Indiantown at #8 in Florida and #136 in the nation.

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