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New Prospect, TX—75652

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$183,000
2.4% YoY Growth
Household Income
$67,000
38.1% YoY Growth
Days on Market
123
26.0% Longer YoY
Home Price Forecast
1.8%
Median Rent
$950
30.8% YoY Growth
1-Bed Rent
$760
N/A
2-Bed Rent
$950
N/A
3-Bed Rent
$900
27.7% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — New Prospect, TX

As of Dec '25, the median home price in New Prospect, TX is $183,000, with a year-over-year change of -2.4%. This indicates that home prices in New Prospect, TX are decreasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$183,000-2.4%
Single Family $183,000-1.6%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		N/AN/A
    3 Bed
    		N/AN/A
    4 Bed
    		N/AN/A
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    2.3%
    1 Bedroom
    5.0%
    2 Bedrooms
    24.1%
    3 Bedrooms
    54.8%
    4 Bedrooms
    13.5%
    5+ Bedrooms
    0.2%

    Rental Trends — New Prospect, TX

    As of July '25, Rentcast reports the average rent in New Prospect, TX is $1,100, with a year-over-year rent change of -30.8%. Per bedroom, the median rent as of July '25 in New Prospect, TX is 1-bedrooms: $760, 2-bedrooms: $1,080, 3-bedrooms: $1,150, 4-bedrooms: $1,400. The most common rental property sizes in New Prospect, TX are 2-bedroom and 3-bedroom, accounting for 42.9% and 32.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$950$1,100
    Studio Rent N/AN/A
    1 Bed Rent $760$760
    2 Bed Rent $950$1,080
    3 Bed Rent $900$1,150
    4 Bed Rent $1,400$1,400
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    % of Rental Stock

    Studio
    8.2%
    1 Bedroom
    12.1%
    2 Bedrooms
    42.9%
    3 Bedrooms
    32.8%
    4 Bedrooms
    4.0%

    Property Listings — New Prospect, TX

    As of Dec '25, Realtor.com reports that the median days on market for a home in New Prospect, TX is 116. This is a increase of 10.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$265,000-3.0%
    Listing Count
    		5333.0%
    Listings as % of Homes0.6%33.0%
    Days on Market
    		12326.0%
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    Demographics — New Prospect, TX

    As of the latest ACS Survey released in 2023, New Prospect, TX has a population of 14,800, which has decreased by -12.8% over the past 5 years. New Prospect, TX is a less popular place for families, as children make up 14.3% of the population. The area has a poorly educated workforce, with 14.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.3% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		14,800-12.8%
    % Under 18
    		14.3%-23.9%
    % Seniors
    		14.9%-2.6%
    % WFH
    		3.3%-41.1%
    % w/ College Degree
    		14.7%2.1%
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    As of the latest ACS Survey released in 2023, New Prospect, TX is a predominantly white area, with 54.2% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in New Prospect, TX is hispanic, making up 20.0% of the population. Foreign-born residents account for 6.9% of the population in New Prospect, TX, and this percentage has decreased by 15.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		54.2%-3.6%
    % Black
    		19.7%-12.1%
    % Hispanic
    		20.0%3.1%
    % Asian
    		0.5%-44.4%
    % Foreign Born
    		6.9%-15.9%
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    Mortgage and Risk — New Prospect, TX

    According to HUD data as of 2023, there were 131 mortgage originations in New Prospect, TX, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in New Prospect, TX. Investor activity is low, as 6.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		131
    % Conventional Loans
    		87.0%
    % Government Loans
    		13.0%
    % Investor Loans
    		6.0%
    % Second Loans
    		6.0%
    % Cash Out Refinance
    		6.0%
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    Rentals and Section 8 — New Prospect, TX

    As of 2024, the percent of homes in New Prospect, TX under the Section 8 program is 5.1%. 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 Prospect, TX, 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
    		127
    Total Units Section 8
    		57
    % Rentals under Section 8
    		5.1%
    % Occupied Section 8
    		82.8%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$90$760$850
    2 Bedroom$160$950$1,110
    3 Bedroom$510$900$1,410
    4 Bedroom$100$1,400$1,500

    Affordability — New Prospect, TX

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.8
    Median Home Price$183,000
    Median Household Income$67,000

    New Prospect, TX — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions