New Prospect, TX—75652
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Prospect, TX
As of Oct '25, the median home price in New Prospect, TX is $180,000, with a year-over-year change of -3.0%. This indicates that home prices in New Prospect, TX are decreasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $180,000 | -3.0% |
| Single Family | $180,000 | -2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,100 |
| Studio Rent | N/A | N/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 |
% of Rental Stock
Property Listings — New Prospect, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in New Prospect, TX is 93. This is a decrease of -9.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $259,000 | 5.0% |
Listing Count | 57 | 35.0% |
| Listings as % of Homes | 0.6% | 35.0% |
Days on Market | 93 | -9.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $180,000 |
| Median Household Income | $67,000 |