New Castle, IN housing market
The typical New Castle home is worth about $172,000, up 2.2% in a year, 34% below the Indiana typical home. Homes typically sell in 21 days, below asking.
Home values, sales, trends and how New Castle compares with the towns next door — updated as new data is published.
New Castle at a glance
A seller's market
Supply is tight — about 2.4 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | New Castle | Indiana |
|---|---|---|
| 2017 | $80,000 | $135,000 |
| 2018 | $86,000 | $144,000 |
| 2019 | $93,000 | $154,000 |
| 2020 | $103,000 | $164,000 |
| 2021 | $116,000 | $183,000 |
| 2022 | $133,000 | $209,000 |
| 2023 | $146,000 | $227,000 |
| 2024 | $153,000 | $237,000 |
| 2025 | $165,000 | $249,000 |
| 2026 | $169,000 | $256,000 |
| August 2026 | $172,000 | $260,000 |
8 new homes permitted in 2025
Builders were permitted 8 new homes in New Castle in 2025, all single-family houses, worth about $1.7 million to build. That's 0.5 per 1,000 residents, slower than across Indiana (6). Over the past 10 years, New Castle has permitted 67 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, New Castle's population fell by 718 even though 25 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Indiana: 1.7 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 13 | 13 | 0 | $3.7 million |
| 2025 | 8 | 8 | 0 | $1.7 million |
| 2024 | 14 | 10 | 4 | $2.1 million |
| 2023 | 14 | 14 | 0 | $3.7 million |
| 2022 | 4 | 4 | 0 | $491,000 |
| 2021 | 3 | 3 | 0 | $561,000 |
| 2020 | 13 | 13 | 0 | $1.2 million |
| 2019 | 5 | 5 | 0 | $262,000 |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 2 | 2 | 0 | $254,000 |
| 2016 | 4 | 4 | 0 | $799,000 |
| 2015 | 2 | 2 | 0 | $331,000 |
| 2014 | 1 | 1 | 0 | $134,000 |
| 2013 | 1 | 1 | 0 | $34,000 |
| 2012 | 5 | 5 | 0 | $514,000 |
| 2011 | 1 | 1 | 0 | $30,000 |
| 2010 | 4 | 4 | 0 | $673,000 |
| 2009 | 3 | 3 | 0 | $346,000 |
| 2008 | 2 | 2 | 0 | $160,000 |
| 2007 | 5 | 5 | 0 | $467,000 |
| 2006 | 9 | 9 | 0 | $881,000 |
| 2005 | 77 | 16 | 61 | $4.7 million |
| 2004 | 69 | 6 | 63 | $3.9 million |
| 2003 | 15 | 15 | 0 | $1.9 million |
| 2002 | 135 | 15 | 120 | $5.3 million |
| 2001 | 103 | 13 | 90 | $4.6 million |
| 2000 | 59 | 25 | 34 | $3 million |
How New Castle ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
3.3 years of income
The typical New Castle home costs about 3.3 years of the town's median household income, about the same as across Indiana (3.6).
How New Castle ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $960
HUD's Fair Market Rent for a two-bedroom in New Castle is $960 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in New Castle pay a median of $781, so moving in tends to cost more than staying put. A two-bedroom takes about 22% of the town's median household income.
Studio $770 · 4 bedrooms $1,270
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (47362; Henry County, IN), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in New Castle
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.