New Port Richey, FL 34654 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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New Port Richey, FL—34654

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$314,000

5.6% YoY Growth

Household Income

$64,200

31.3% YoY Growth

Days on Market

88

21.0% Longer YoY

Home Price Forecast

0.8%

Median Rent

$2,100

3.7% YoY Growth

1-Bed Rent

$1,400

30.5% YoY Growth

2-Bed Rent

$1,600

1.8% YoY Growth

3-Bed Rent

$2,100

3.7% YoY Growth

Other Zip Codes in New Port Richey, FL

34652 34653 34655

Home Price Trends — New Port Richey, FL

As of Dec '25, the median home price in New Port Richey, FL is $314,000, with a year-over-year change of -5.6%. This indicates that home prices in New Port Richey, FL are decreasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$314,000	-5.6%
Single Family	$327,000	-5.2%
Condos	$109,000	-16.8%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

1.1%

1 Bedroom

10.2%

2 Bedrooms

39.6%

3 Bedrooms

35.2%

4 Bedrooms

9.3%

5+ Bedrooms

4.7%

Property Listings — New Port Richey, FL

As of Dec '25, Realtor.com reports that the median days on market for a home in New Port Richey, FL is 86. This is a increase of 30.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$320,000	-10.0%
Listing Count	152	-5.0%
Listings as % of Homes	1.2%	-5.0%
Days on Market	88	21.0%

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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%

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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%

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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%

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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