New Port Richey is considered moderately affordable in 2025, with average rent for a 2-bedroom apartment at $1,450 per month and slightly lower grocery costs compared to the national average.
Housing Costs in New Port Richey
Housing options in New Port Richey range from apartments and condos to single-family homes. Typical rent for a 2-bedroom apartment falls between $1,300 and $1,600 per month, with a median around $1,450. Purchasing a 3-bedroom house usually costs between $280,000 and $350,000, depending on the neighborhood and property condition.
Some of the more affordable areas for renting include Gulf Harbors and Jasmine Lakes, while River Ridge tends to have higher-end properties. For home buyers, popular neighborhoods like The Villas at River Ridge and Magnolia Valley offer a mix of newer and older homes at various price points.
About 30% of properties in New Port Richey are part of an HOA, with monthly fees typically ranging from $200 to $400. This covers amenities like community pools, fitness centers, and landscaping in many developments.
Utilities and Energy Bills
Basic utility costs in New Port Richey are generally in line with the national average. Expect to pay around $120 per month for electricity for a 2-bedroom apartment, with costs rising in the summer due to increased AC usage. Water and trash services typically add another $60 to $80 per month.
| Utility | Estimated Monthly Cost |
|---|---|
| Electricity | $120 |
| Water | $40 |
| Trash | $25 |
| Natural Gas | $30 |
Groceries and Daily Expenses
Grocery costs in New Port Richey are about 5% lower than the national average. Expect to spend around $350 per month on groceries for a single person, or $800 to $1,000 for a family of four. Dining out at a mid-range restaurant typically costs $15 to $25 per person.
A sample grocery basket with staples like bread, milk, eggs, chicken, and produce totals about $50 in New Port Richey, compared to $55 in the average U.S. city. Discount grocery stores like Aldi and Save A Lot help keep food costs manageable for budget-conscious shoppers.
Taxes and Hidden Fees
Florida has no state income tax, which helps offset other living costs. However, New Port Richey’s property tax rate of 0.98% is slightly higher than the national average of 0.87%. For a home valued at $300,000, annual property taxes would be around $2,940.
Sales tax in Pasco County, which includes New Port Richey, is 7%. Vehicle registration fees are $225 for a new car and then $30 to $50 per year after that, depending on the vehicle’s weight.
Summary Monthly Budget
| Expense Category | Single Person | Couple | Family of 4 |
|---|---|---|---|
| Housing (Rent) | $1,450 | $1,450 | $1,800 |
| Utilities | $215 | $280 | $400 |
| Groceries | $350 | $600 | $900 |
| Transportation | $200 | $300 | $500 |
| Healthcare | $250 | $500 | $800 |
| Other Necessities | $200 | $350 | $500 |
| Monthly Total (Pre-Tax) | $2,665 | $3,480 | $4,900 |
Note that all budget figures reflect gross monthly income (pre-tax). To live comfortably in New Port Richey, aim for a monthly income of at least $2,700 for a single person, $3,500 for a couple, or $5,000 for a family of four.
Lifestyle Considerations
One advantage of living in New Port Richey is the relatively short commute times. The average commute is just 26 minutes, below the national average of 30 minutes. Many residents work in nearby cities like Tampa or Clearwater.
New Port Richey offers a mix of older, established neighborhoods and newer subdivisions with more spacious homes. Older areas tend to be more walkable, while newer developments often have amenities like community pools and parks.
Access to outdoor recreation is a big draw, with several parks, nature preserves, and beaches within a short drive. Key Vista Nature Park and James E. Grey Preserve are popular spots for hiking, birding, and picnicking.
Frequently Asked Questions
- Is New Port Richey cheaper than Tampa?
Yes, the cost of living in New Port Richey is about 10% lower than in Tampa. Housing costs in particular are more affordable in New Port Richey. - What salary do you need to live in New Port Richey?
To live comfortably, aim for a gross monthly income (pre-tax) of at least $2,700 for a single person, $3,500 for a couple, or $5,000 for a family of four. - What are the top 3 costs that surprise newcomers to New Port Richey?
Property taxes, HOA fees, and summer electric bills tend to catch newcomers off guard. Budget accordingly for these costs. - Is New Port Richey a good place to retire?
Yes, New Port Richey is popular with retirees due to its warm climate, outdoor recreation, and lower cost of living compared to other Florida cities. - How much can I expect to pay for car insurance in New Port Richey?
Car insurance costs around $150 per month for a single driver with a clean record. Rates vary based on age, vehicle type, and driving history.