Veyo became a distinct community from Gunlock in 1918. One tradition says the community name is an acronym of virtue, enterprise, youth, and order; another says it combines verdure and youth. There is a town of Veyo in Spain that is also referred to as La Peña, which means "rocky outcrop".[5]
As of the census[8] of 2010, there were 483 people living in the CDP. There were 193 housing units. The racial makeup of the town was 94.6% White, 0.8% American Indian and Alaska Native, 0.4% Asian, 0.2% Native Hawaiian and Other Pacific Islander, 2.3% from some other race, and 1.7% from two or more races. Hispanic or Latino of any race were 5.2% of the population.
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