New Port Richey, FL—34653
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Port Richey, FL
As of Oct '25, the median home price in New Port Richey, FL is $246,000, with a year-over-year change of -8.1%. This indicates that home prices in New Port Richey, FL are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $246,000 | -8.1% |
| Single Family | $258,000 | -7.9% |
| Condos | $124,000 | -15.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $101,000 | -16.5% |
2 Bed | $197,000 | -7.9% |
3 Bed | $282,000 | -6.3% |
4 Bed | $356,000 | -4.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Port Richey, FL
As of July '25, Rentcast reports the average rent in New Port Richey, FL is $1,780, with a year-over-year rent change of -4.3%. Per bedroom, the median rent as of July '25 in New Port Richey, FL is studios: $758, 1-bedrooms: $1,310, 2-bedrooms: $1,550, 3-bedrooms: $1,960, 4-bedrooms: $2,260. The most common rental property sizes in New Port Richey, FL are 2-bedroom and 3-bedroom, accounting for 54.3% and 20.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,780 |
| Studio Rent | $758 | $758 |
| 1 Bed Rent | $1,300 | $1,310 |
| 2 Bed Rent | $1,500 | $1,550 |
| 3 Bed Rent | $1,920 | $1,960 |
| 4 Bed Rent | $2,300 | $2,260 |
% of Rental Stock
Property Listings — New Port Richey, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in New Port Richey, FL is 79. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $268,000 | -7.0% |
Listing Count | 220 | 9.0% |
| Listings as % of Homes | 0.8% | 9.0% |
Days on Market | 79 | 19.0% |
Demographics — New Port Richey, FL
As of the latest ACS Survey released in 2023, New Port Richey, FL has a population of 36,100, which has increased by 3.1% over the past 5 years. New Port Richey, FL is a moderately popular place for families, as children make up 16.5% of the population. The area has a poorly educated workforce, with 17.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,100 | 3.1% |
% Under 18 | 16.5% | -14.5% |
% Seniors | 27.4% | 10.5% |
% WFH | 11.6% | 132.0% |
% w/ College Degree | 17.7% | 12.7% |
As of the latest ACS Survey released in 2023, New Port Richey, FL is a predominantly white area, with 73.8% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in New Port Richey, FL is hispanic, making up 13.9% of the population. Foreign-born residents account for 11.4% of the population in New Port Richey, FL, and this percentage has increased by 72.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 73.8% | -8.4% |
% Black | 5.8% | 87.1% |
% Hispanic | 13.9% | -2.8% |
% Asian | 1.8% | 125.0% |
% Foreign Born | 11.4% | 72.7% |
Mortgage and Risk — New Port Richey, FL
According to HUD data as of 2023, there were 709 mortgage originations in New Port Richey, FL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in New Port Richey, FL. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 709 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — New Port Richey, FL
As of 2024, the percent of homes in New Port Richey, FL under the Section 8 program is 4.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In New Port Richey, FL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 348 |
Total Units Section 8 | 203 |
% Rentals under Section 8 | 4.1% |
% Occupied Section 8 | 70.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $1,300 | $1,410 |
| 2 Bedroom | $160 | $1,500 | $1,660 |
| 3 Bedroom | $210 | $1,920 | $2,130 |
| 4 Bedroom | $290 | $2,300 | $2,590 |
Affordability — New Port Richey, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $246,000 |
| Median Household Income | $47,700 |