Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 2,869 people, 1,342 houses or apartments, and a median cost of homes of $280,058, Port Richey real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Port Richey, accounting for 45.17% of the city's housing units. Other types of housing that are prevalent in Port Richey include large apartment complexes or high rise apartments ( 26.20%), mobile homes or trailers ( 17.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.34%).
People in Port Richey primarily live in small (one, two or no bedroom) single-family detached homes. Port Richey has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Port Richey built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Port Richey built between 1940-1969 ( 11.75%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.49%). There's also some housing in Port Richey built before 1939 ( 1.27%).
Vacant housing appears to be an issue in Port Richey. Fully 25.98% of the housing stock is classified as vacant. Left unchecked, vacant Port Richey homes and apartments can be a drag on the real estate market, holding Port Richey real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Port Richey has experienced some of the highest home appreciation rates of any community in the nation. Port Richey real estate appreciated 118.57% over the last ten years, which is an average annual home appreciation rate of 8.13%, putting Port Richey in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Port Richey definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Port Richey that despite a nationwide downturn in the housing market, Port Richey real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Port Richey appreciation rates continue to be some of the highest in America, at 7.04%, which is higher than appreciation rates in 90.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Port Richey. Port Richey appreciation rates in the latest quarter were at 1.85%, which equates to an annual appreciation rate of 7.62%.
Importantly, this makes Port Richey one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Florida, our data show that Port Richey's latest annual appreciation rate is higher than 70% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Port Richey differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Port Richey - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Port Richey real estate investment or home purchase decisions.
|$1,182,001 - $1,576,000||1.0|
|$788,001 - $1,182,000||3.5|
|$630,001 - $788,000||8.5|
|$473,001 - $630,000||5.7|
|$316,001 - $473,000||16.4|
|$158,001 - $316,000||26.2|
|$79,001 - $158,000||23.4|
|$0 - $79,000||12.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Port Richey HOMES|
|2000 or Newer||9.5|
|1970 - 1999||77.5|
|1940 - 1969||11.7|
|1939 or Older||1.3|
|TYPE OF Port Richey HOMES|
|Small Apt. Buildings||6.3|
|SIZE OF Port Richey HOMES|
|5 or more bedrooms||0.94|