Real Estate Investing in New Port Richey, Florida (34654)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 34654 (New Port Richey, FL)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 12.3% of homes vacant — above national norms.
What’s happening in New Port Richey, FL (34654)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 34654 New Port Richey
Looking more closely, ZIP 34654 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $316K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 34654 comes in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
On the rental side, 34654 offers a low basis, the region around New Port Richey has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 34654 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in New Port Richey:
Property Strategy for 34654
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $104,234 | $1,720 | 11.9% | +9.9% | $104,234 |
| 2BR | $209,119 | $2,000 | 6.9% | +9.9% | $104,560 |
| 3BR | $313,251 | $2,560 | 5.9% | +8.6% | $104,417 |
| 4BR | $451,863 | $3,110 | 5.0% | +8.9% | $112,966 |
| 5BR | $585,532 | — | — | +9.0% | $117,106 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 34654 Compare?
| Metric | 34654 | New Port Richey | Tampa-St. Petersburg-Clearwater, FL | Florida |
|---|---|---|---|---|
| Home Value | $315,842 | $291,619 | N/A | $374,697 |
| 5-Year CAGR | 4.1% | 4.2% | N/A | 7.4% |
| Avg Rent | $1,904 | $1,785 | N/A | - |
| Cap Rate | 4.7% | 4.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 34654 (New Port Richey, FL). Anonymous, moderated, never written by AI.
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Property managers serving Pasco County
Manage rentals here? List your business →Dennis Property Management offers rental agency and management services in the Tampa Bay area, including multi-family management, investor packages, and resources for homeowners and tenants. summary from their website
Jerome Property Management LLC offers property management services. summary from their website
Paragon Property Services, LLC offers full-service home inspection services in Central Florida, including Lake, Sumter, Seminole, Orange, Osceola, Polk, Pasco, Hernando, Hillsborough, Volusia, and Cit summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $315,842 |
| Monthly Rent | $1,904 |
| Price-to-Rent | 13.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.2% |
| Cap Rate | 4.7% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | -0.5% ▼ |
| 3-Year CAGR | -1.4% ▼ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 34654
Population: 24,357
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 34654
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,108 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is New Port Richey in FL worth investing in?
Our data puts New Port Richey, FL at 3.0/5 for investability. Home prices of $316K and rents around $1,904/mo create a solid backdrop for investor activity.
Does house hacking make sense in New Port Richey, FL?
House hacking in New Port Richey, FL is reasonable to execute. Prices around $316K and rents of $1,904/mo solid owner-occupant economics.
How much is rent in New Port Richey, FL?
New Port Richey, FL rentals go for roughly $1,904/mo a month. That puts gross yield in solid territory relative to $316K acquisition costs.
How much should I expect to pay for a home in New Port Richey, FL?
Expect median prices around $316K in New Port Richey, FL. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
Do landlords face vacancy issues in New Port Richey, FL?
Expect elevated vacancy in New Port Richey, FL. Rents at $1,904/mo are absorbed by the tenant base without meaningful lag.
You know 34654 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 34654 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 34654 ranks in Tampa-St. Petersburg-Clearwater, FL
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