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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Port Richey Housing Market Information

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.

Port Richey Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$280,058

Port Richey, FL HOME PRICES

Value Range
> $1,576,000 3.4
$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

High for FL
High for Nation

Value Relative to Nation Value Relative to State
24.0408759124088 36.1702127659575

Number Of Homes And Apartments:
1,342

Port Richey Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2020 Q2
139.84% 4.36%
7
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,353 / per month

Homeownership Rate

Homeownership
Owners 62.29
Renters 37.71
Vacant 25.98

Housing Market Details

 

Age of Homes

AGE OF Port Richey HOMES
2000 or Newer 9.5
1970 - 1999 77.5
1940 - 1969 11.7
1939 or Older 1.3

Types of Homes

TYPE OF Port Richey HOMES
Single-Family 45.2
Townhomes 5.2
Small Apt. Buildings 6.3
Apt. Complexes 26.2
Mobile Homes 17.0
Other 0.0

Home Size

SIZE OF Port Richey HOMES
No Bedroom 1.88
1 Bedroom 12.47
2 Bedrooms 59.24
3 Bedrooms 20.46
4 Bedrooms 5.02
5 or more bedrooms 0.94