New Port Richey, FL—34654
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 $315,000, with a year-over-year change of -5.7%. This indicates that home prices in New Port Richey, FL are decreasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $315,000 | -5.7% |
| Single Family | $328,000 | -5.5% |
| Condos | $110,000 | -16.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $104,000 | -16.1% |
2 Bed | $209,000 | -6.3% |
3 Bed | $313,000 | -5.2% |
4 Bed | $452,000 | -3.6% |
| 5 Bed | $586,000 | -4.2% |
% of Housing Stock
Rental Trends — New Port Richey, FL
As of July '25, Rentcast reports the average rent in New Port Richey, FL is $2,100, with a year-over-year rent change of -3.7%. Per bedroom, the median rent as of July '25 in New Port Richey, FL is 1-bedrooms: $1,370, 2-bedrooms: $1,650, 3-bedrooms: $2,070, 4-bedrooms: $2,790. The most common rental property sizes in New Port Richey, FL are 2-bedroom and 3-bedroom, accounting for 39.6% and 35.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,100 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,370 |
| 2 Bed Rent | $1,600 | $1,650 |
| 3 Bed Rent | $2,100 | $2,070 |
| 4 Bed Rent | $2,820 | $2,790 |
% 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 87. This is a increase of 31.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $319,000 | -11.0% |
Listing Count | 171 | 7.0% |
| Listings as % of Homes | 1.2% | 7.0% |
Days on Market | 87 | 31.0% |
Demographics — New Port Richey, FL
As of the latest ACS Survey released in 2023, New Port Richey, FL has a population of 24,400, which has increased by 5.8% over the past 5 years. New Port Richey, FL is a moderately popular place for families, as children make up 18.0% of the population. The area has a poorly educated workforce, with 21.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,400 | 5.8% |
% Under 18 | 18.0% | -5.3% |
% Seniors | 20.7% | -15.5% |
% WFH | 15.6% | 105.3% |
% w/ College Degree | 21.9% | 21.7% |
As of the latest ACS Survey released in 2023, New Port Richey, FL is a predominantly white area, with 81.1% of the population identifying as white. The white population has shrunk by 7.4% in the last 5 years. The second most common race or ethnicity in New Port Richey, FL is hispanic, making up 10.0% of the population. Foreign-born residents account for 7.5% of the population in New Port Richey, FL, and this percentage has increased by 25.0% 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 | 81.1% | -7.4% |
% Black | 3.4% | 30.8% |
% Hispanic | 10.0% | 58.7% |
% Asian | 2.3% | 43.8% |
% Foreign Born | 7.5% | 25.0% |
Mortgage and Risk — New Port Richey, FL
According to HUD data as of 2023, there were 606 mortgage originations in New Port Richey, FL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in New Port Richey, FL. Investor activity is low, as 0.0% 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 | 606 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 0.0% |
% 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 1.0%. 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 | 18 |
Total Units Section 8 | 18 |
% Rentals under Section 8 | 1.0% |
% Occupied Section 8 | 70.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $310 | $1,400 | $1,710 |
| 2 Bedroom | $410 | $1,600 | $2,010 |
| 3 Bedroom | $470 | $2,100 | $2,570 |
| 4 Bedroom | $310 | $2,820 | $3,130 |
Affordability — New Port Richey, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $315,000 |
| Median Household Income | $64,200 |