New Port Richey, FL 34653 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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New Port Richey, FL—34653

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$253,000

3.7% YoY Growth

Household Income

$47,700

18.2% YoY Growth

Days on Market

65

27.0% Longer YoY

Home Price Forecast

-1.1%

Median Rent

$1,750

4.3% YoY Growth

1-Bed Rent

$1,300

4.0% YoY Growth

2-Bed Rent

$1,500

0.6% YoY Growth

3-Bed Rent

$1,920

3.9% YoY Growth

Other Zip Codes in New Port Richey, FL

34652 34655 34654

Home Price Trends — New Port Richey, FL

As of May '26, the median home price in New Port Richey, FL is $253,000, with a year-over-year change of -3.7%. This indicates that home prices in New Port Richey, FL are decreasing. According to Zillow, the 1-year price projection is -1.1%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$253,000	-3.7%
Single Family	$264,000	-2.6%
Condos	$122,000	-11.6%

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 $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

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% of Rental Stock

Studio

2.0%

1 Bedroom

18.8%

2 Bedrooms

54.3%

3 Bedrooms

20.4%

4 Bedrooms

1.4%

5+ Bedrooms

3.2%

Property Listings — New Port Richey, FL

As of May '26, Realtor.com reports that the median days on market for a home in New Port Richey, FL is 65. This is a increase of 27.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$256,000	-2.0%
Listing Count	207	-7.0%
Listings as % of Homes	0.8%	-7.0%
Days on Market	65	27.0%

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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 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%

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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%

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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%

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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 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