New Port Richey Home Prices: $289K, Down 4.4% — 4 ZIPs (2026)
$289,251. That’s the typical home price in New Port Richey as of February 2026 — down 4.4% from a year ago. The decline stretches a full twelve months, though the drop has slowed in early 2026.
Quick answer: The average home price in New Port Richey, FL is $289,251 as of February 2026, down 4.4% year over year according to Zillow.
Current Home Prices in New Port Richey
The typical home in New Port Richey now sits at $289,251. That price covers a wide range across the city, from a low of $213,610 in the oldest ZIP to $378,364 on the north end.
| Metric | Value |
|---|---|
| Median home value | $289,251 |
| Year-over-year change | -4.4% |
| Lowest ZIP value | $213,610 |
| Highest ZIP value | $378,364 |
| ZIP codes tracked | 4 |
| Data as of | February 28, 2026 |
A year ago, prices were closer to $302,000. Since then, values have fallen every single month through late 2025 before flattening in December, January, and February. The pace of decline has eased, but the overall direction is still down.
The gap between the cheapest and most expensive ZIP is $164,754. That’s a 77% spread — meaning the priciest homes in town cost nearly double the cheapest. For a city this small, that’s a wide divide and worth paying attention to if you’re shopping.
Tampa-area buyers priced out of bigger cities often look here. The data shows New Port Richey sits well below the broader Tampa metro median, which is part of why population keeps climbing even as home values drift lower.
New Port Richey Home Prices by Neighborhood
New Port Richey has four ZIP codes. Prices differ sharply depending on which side of the city you’re looking at.
| ZIP Code | Median Home Value | Typical Rent | Vs City Average |
|---|---|---|---|
| 34655 | $378,364 | $2,056 | +31% |
| 34654 | $317,240 | $1,984 | +10% |
| 34653 | $247,789 | $1,580 | -14% |
| 34652 | $213,610 | $1,634 | -26% |
Most Expensive
- 34655 — $378,364. The top-priced ZIP sits 31% above the city average and commands the highest rents at $2,056 a month.
- 34654 — $317,240. The second-priciest ZIP runs 10% above average with rents close behind 34655 at $1,984.
- 34653 — $247,789. Middle of the pack on price but the lowest rent in town at $1,580.
Most Affordable
- 34652 — $213,610. The cheapest ZIP, 26% below the city average. Rent runs $1,634 — higher than 34653 despite lower home prices.
- 34653 — $247,789. Second most affordable and the lowest-rent ZIP in the city.
- 34654 — $317,240. Still below the priciest area but well above the two cheapest ZIPs.
One oddity in the rent data: 34652 has lower home values than 34653 but higher rents. That’s a signal — it suggests rental demand in 34652 is stronger than sale prices would imply.
Rent vs Buy in New Port Richey
Rents in New Port Richey span $1,580 to $2,056 a month. The citywide midpoint falls near $1,800.
| ZIP Code | Monthly Rent | Annual Rent |
|---|---|---|
| 34655 | $2,056 | $24,672 |
| 34654 | $1,984 | $23,808 |
| 34652 | $1,634 | $19,608 |
| 34653 | $1,580 | $18,960 |
At $289,251, a 20% down payment comes to $57,850. That leaves $231,401 to finance. The monthly mortgage payment, property taxes, insurance, and maintenance would need to be compared against local rents to know which option wins financially.
In the cheapest ZIP (34652), you could rent for $1,634 or buy for $213,610. That’s a 131x price-to-rent ratio in annual terms — high enough that renting saves money on a monthly cash basis for most buyers who don’t plan to stay more than five years.
In the priciest ZIP (34655), rent is $2,056 for homes worth $378,364. The ratio is similar. Either way, the buy-versus-rent math favors renters on monthly cost, but favors buyers on long-term equity if prices stabilize.
The rent data here uses the Zillow Observed Rent Index, which tracks typical asking rents across listed units. Your actual rent may vary by property type and condition.
Population Growth and Migration
New Port Richey has 18,130 residents as of 2024, up from 16,768 in 2020. That’s 8.1% growth over four years — roughly 2% per year.
| Year | Population |
|---|---|
| 2020 | 16,768 |
| 2021 | 17,074 |
| 2022 | 17,393 |
| 2023 | 17,808 |
| 2024 | 18,130 |
Growth has been steady, not explosive. Every year adds between 300 and 420 new residents. The city is small enough that even modest in-migration moves the percentage growth rate up.
Compare that to nearby Florida cities:
| City | 2024 Population | 4-Year Growth |
|---|---|---|
| Port St. Lucie | 258,575 | 25.0% |
| Cape Coral | 233,025 | 19.2% |
| Miami | 487,014 | 10.0% |
| Orlando | 334,854 | 8.8% |
| New Port Richey | 18,130 | 8.1% |
| Tampa | 414,547 | 6.7% |
New Port Richey grows faster than Tampa but much slower than Port St. Lucie or Cape Coral. The 8.1% figure puts it in the middle of the Florida growth pack.
Demand is there. But prices dropped 4.4% despite population gains — meaning supply or affordability is the binding constraint, not lack of buyers.
New Port Richey Housing Market Trends
Twelve months of data shows a market that peaked in early 2025 and has drifted lower since.
| Month | Median Value |
|---|---|
| Feb 2026 | $289,251 |
| Jan 2026 | $288,781 |
| Dec 2025 | $288,856 |
| Nov 2025 | $289,067 |
| Oct 2025 | $289,534 |
| Sep 2025 | $290,463 |
| Aug 2025 | $291,832 |
| Jul 2025 | $293,684 |
| Jun 2025 | $295,623 |
| May 2025 | $297,768 |
| Apr 2025 | $300,001 |
| Mar 2025 | $302,590 |
The peak was $302,590 in March 2025. Prices fell every month after that until December 2025, bottoming at $288,781 in January 2026.
February 2026 ticked up $470 from January. That’s not a reversal — it’s noise at this scale — but it’s the first month-over-month increase in nearly a year.
The total drop from March 2025 to February 2026 was $13,339, or 4.4%. Most of the damage came in the middle of 2025, when prices lost more than $2,000 per month. By fall, the declines had slowed to a few hundred dollars per month.
Is New Port Richey a Good Place to Buy in 2026?
Prices are down 4.4% year over year. Population is up 8.1% over four years. Those two numbers pull in opposite directions — and for a buyer, that’s useful.
Falling prices give buyers an edge. A buyer in February 2026 pays less than a buyer in March 2025 did. If the market has stopped sliding — and January-to-February data hints at that — you may be buying close to a local bottom.
Rising population means demand isn’t going away. People keep moving in. Supply is what drove prices down, not collapsing interest.
The cheapest ZIP (34652) at $213,610 puts homes within reach of buyers priced out of Tampa proper. For investors, the rent-to-price ratios in 34652 and 34653 are the most favorable in the city.
This looks like a softer buyer’s market. Not a fire sale — a slow slide that’s flattening. If you have a long time horizon, the math works.
New Port Richey Housing Market Outlook for 2026-2027
The 3-month trend suggests prices are stabilizing. January 2026 marked a low of $288,781, and February came in 0.16% higher. That’s not a recovery, but it’s the first stop in the bleeding.
If the current pace continues, prices could hold near $290,000 through spring 2026. The decline from $302,590 to $288,781 played out over nine months — that kind of sustained drop usually needs continued supply pressure to keep going.
The steeper declines happened in mid-2025, when monthly drops ran $1,500 to $2,600. Those drops have shrunk to near zero. Unless something changes in the Tampa metro economy, the second half of 2026 likely sees flat-to-slightly-up pricing rather than another leg down.
Population growth of 2% a year provides a floor. Watch the March and April 2026 numbers — two more months of upward movement would confirm the trend has turned.
Similar Markets in FL
- Tampa — the larger metro New Port Richey feeds into, with different price dynamics.
- Orlando — another Central Florida market with population growth to compare.
- Jacksonville — a lower-priced Florida metro worth comparing on affordability.
- Port Saint Lucie — the fastest-growing Florida city on this list at 25% four-year growth.
- Miami — the opposite end of the Florida price spectrum.
Frequently Asked Questions
What is the average home price in New Port Richey?
The average home price in New Port Richey, FL is $289,251 as of February 2026. That figure is the median across four ZIP codes in the city, ranging from $213,610 to $378,364.
Are home prices going up or down in New Port Richey?
Home prices are down 4.4% year over year. The typical home has lost about $13,000 in value since early 2025, though the pace of decline has slowed in recent months.
Is it cheaper to rent or buy in New Port Richey?
Typical rents run from $1,580 to $2,056 depending on ZIP code. With a median home price of $289,251, renting has a lower monthly cash cost than buying with a 20% down payment, though buying builds equity over time.
What is the most affordable neighborhood in New Port Richey?
ZIP code 34652 is the cheapest area, with a typical home value of $213,610. That’s 26% below the city average and the best entry point for first-time buyers.
Methodology
Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.