A+
13%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
34%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index New Port Richey Florida National
Cost of living8798100
Goods & Services9398100
Groceries10099100
Health care9296100
Housing6696100
Transportation10099100
Utilities9997100

An Overview of Cost of Living in New Port Richey, FL

Knowing the cost of living in New Port Richey allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in New Port Richey stands at 87, marking it 13% lower than the national average.

What Do Locals Say About the Cost of Living in New Port Richey?

Nobody knows their city better than the people who actually live there. So, we asked 9 local residents how they would rate the cost of living in New Port Richey and this is how they responded. 78% of people said that the cost of living was affordable, with prices decreasing, while 22% of people said that the cost of living was very expensive and prices continue to rise.

Is New Port Richey Affordable?

Wondering if New Port Richey is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In New Port Richey, for example, the median home price is 46.1% lower than what folks pay nationally, and monthly rent is 7.1% lower than the usual rates. Plus, income levels matter too, with New Port Richey boasting a median household income of $36,798, which is 33.5% lower than the national average.

What Factors can Influence the Cost of Living in New Port Richey?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In New Port Richey, the groceries index is 0.5% lower than the national average.

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In New Port Richey, healthcare costs are 8% lower than the national average.

Where is the Data From?

The New Port Richey cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

New Real Estate Listings in New Port Richey Area
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Cost Of Living Quick Facts

  • The cost of living in New Port Richey is 11% lower than the Florida average
  • The cost of living in New Port Richey is 13% lower than the national average
  • New Port Richey housing is 34% lower than the national average
  • Florida general sales tax is 18% higher than the national average
  • Florida state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around New Port Richey

See all the best places to live around New Port Richey

Compare New Port Richey, FL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$42,888$3,574$1,001$1,287
      Renters$29,083$2,424$679$873
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in New Port Richey, FL, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for New Port Richey homeowners, is $42,888. This would allow for a maximum of $1,001 per month to be spent on housing costs. For renters, the median monthly income is $29,083 which would result in a maximum of $679 to be spent on rental costs.

      Florida Sales Tax

      State General Sales Tax With Max Surtax
      Florida 6% 7.5%

      Florida Income Tax

      State Income Tax (Low) Income Tax (High)
      Florida 0% 0%

      Goods & Services

      Item New Port Richey National avg. Difference
      Haircut $15.67$24.2635.4%
      Beauty Salon $54.72$45.5620.1%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.48$1.2815.3%
      Movie $8.61$12.1329.1%
      Bowling $19.67$18.009.3%

      Groceries

      Item New Port Richey National avg. Difference
      Ground Beef $6.06$5.843.8%
      Fried Chicken $1.48$1.575.7%
      Milk $4.56$4.672.3%
      Potatoes $5.34$4.938.1%
      Pizza $8.38$12.0930.6%
      Beer $10.69$10.412.6%

      Health Care

      Item New Port Richey National avg. Difference
      Optometrist $146.67$125.6816.7%
      Doctor $122.32$135.789.9%
      Dentist $103.33$113.298.8%
      Ibuprofen $10.74$10.650.8%
      Lipitor $523.90$468.6011.8%

      Housing

      Item New Port Richey National avg. Difference
      Home Price $99,500.00$184,700.0046.1%
      Avg. Mortgage Payment $1,846.50$2,346.6921.3%
      Apartment Rent $882.00$949.007.1%

      Transportation

      Item New Port Richey National avg. Difference
      Gasoline $3.42$3.461.0%
      Tire Balancing $57.28$59.924.4%

      Utilities

      Item New Port Richey National avg. Difference
      All Electricity $219.66$193.9913.2%
      Phone $194.37$192.251.1%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Moon Lake, FL4,2348317.1%
      Holiday, FL21,0068713.2%
      Beacon Square, FL7,0318712.7%
      Bayonet Point, FL26,7048812.2%
      Elfers, FL12,9158811.7%
      New Port Richey, FL16,5428713.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Vienna, VA16,53218584.6%
      South Venice, FL16,5551066.1%
      Washington, IL16,555963.7%
      Abington, MA16,55714040.2%
      Gainesville, TX16,557981.9%
      New Port Richey, FL16,5428713.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.