Port Richey, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Port Richey, FL Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Port Richey Housing Market Information

With a population of 2,761, 1,295 total housing units (homes and apartments), and a median house value of $187,071, 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 39.12% of the city's housing units. Other types of housing that are prevalent in Port Richey include large apartment complexes or high rise apartments ( 30.30%), mobile homes or trailers ( 17.24%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.21%).

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 2000 and later ( 14.84%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.11%). There's also some housing in Port Richey built before 1939 ( 1.00%).

Vacant housing appears to be an issue in Port Richey. Fully 27.73% 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.

Port Richey Home Appreciation Rates

Homes have actually lost value in Port Richey over the last then years, as home values have seen a decline of 29.68% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Port Richey home appreciation rates at 1.28%, which equates to an annual appreciation rate of 5.24%.

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 12.60%, which is higher than appreciation rates in 98.13% 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 1.28%, which equates to an annual appreciation rate of 5.24%.

Relative to Florida, our data show that Port Richey's latest annual appreciation rate is higher than 80% 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.

Average Home Values

 

Median Home Value:
$187,071

Port Richey, FL HOME PRICES

Value Range
> $1,416,000 3.1
$1,062,001 - $1,416,000 1.6
$708,001 - $1,062,000 0.3
$566,001 - $708,000 3.6
$425,001 - $566,000 6.9
$284,001 - $425,000 16.8
$141,001 - $284,000 23.6
$71,001 - $141,000 26.8
$0 - $71,000 17.2

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
35.6849876948318 51.2820512820513

Number Of Homes And Apartments:
1,295

Port Richey Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
51.52% 2.44% 2 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,130 / per month

Homeownership Rate

Homeownership
Owners 64.59
Renters 35.41
Vacant 27.73

Housing Market Details

 

Age of Homes

AGE OF Port Richey HOMES
2000 or Newer 14.8
1970 - 1999 72.0
1940 - 1969 12.1
1939 or Older 1.0

Types of Homes

TYPE OF Port Richey HOMES
Single-Family 39.1
Townhomes 4.1
Small Apt. Buildings 9.2
Apt. Complexes 30.3
Mobile Homes 17.2
Other 0.0

Home Size

SIZE OF Port Richey HOMES
No Bedroom 5.30
1 Bedroom 11.16
2 Bedrooms 57.76
3 Bedrooms 20.15
4 Bedrooms 5.08
5 or more bedrooms 0.56