In New Castle, a typical home is worth $98,000 and typical rent is $781 a month. Compared with all of Henry County, the typical home value is 37% lower, typical household income is 18% lower, and the share of households that own their home is 15 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $124,690 to $166,998.
Typical rent
$854a month
▲ 5.4% more than 12 months ago
Typical rent from Zillow, March 2025 to September 2026: from $785 to $854.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
New Castle is in Henry County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Henry County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical home in New Castle is worth $98,000,37% less than in Henry County as a whole ($154,400).
2
62% of households in New Castle own their home, against 76% in Henry County.
3
The typical household income in New Castle is $51,606,18% less than in Henry County as a whole ($63,150).
4
New Castle has the 10th lowest typical rent of the 132 cities in Indiana with more than 5,000 people ($781).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in New Castle
What homes there are in New Castle, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
New Castle
Henry County
Indiana
United States
Kind of home: New Castle and its comparisons
Measure
New Castle
Henry County
Indiana
United States
Detached house
73%
82%
73%
61%
Attached house
2%
2%
4%
6%
Building of 2 to 4
9%
5%
6%
8%
Apartments (5 or more)
12%
6%
13%
19%
Mobile home
4%
4%
4%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In New Castle, 7 in 10 homes are single-family detached houses; in Henry County, 8.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
New Castle
Henry County
Indiana
United States
Year built: New Castle and its comparisons
Measure
New Castle
Henry County
Indiana
United States
Before 1960
57%
49%
31%
26%
1960–1979
25%
27%
24%
24%
1980–1999
14%
16%
23%
25%
2000–2009
4%
6%
12%
14%
2010 or later
Unreliable estimate
3%
10%
11%
Homes in New Castle are older: the typical year built is 1956; in Henry County, 1961.
There are fewer big homes in New Castle than in Henry County: 51% have 3 bedrooms or more, against 65%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K52%
$100K–$200K32%
$200K–$300K10%
$300K–$500K5%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: New Castle and its comparisons
Measure
New Castle
Under $100K
52%
$100K–$200K
32%
$200K–$300K
10%
$300K–$500K
5%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable
$1M or more
Unreliable estimate
The FHA limit for Henry County is high ($541,287): at least 99% of owner-occupied homes in New Castle are worth less than $500,000.
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $50013%
$500–$99963%
$1,000–$1,49921%
HUD fair market rent, 2 bedrooms: $1,014
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: New Castle and its comparisons
Measure
New Castle
Under $500
13%
$500–$999
63%
$1,000–$1,499
21%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
HUD's 2-bedroom fair market rent (FMR) for Henry County is $1,014; about 77% of rents in New Castle are below it.
With a mortgage
$951 a month
Henry County: $1,136 a month
Without a mortgage
$448 a month
Henry County: $496 a month
Owners with a mortgage
57%
Henry County: 59%
The typical cost for an owner with a mortgage in New Castle is $951 a month, less than in Henry County ($1,136); without one, $448.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
New Castle+34%
Henry County+54%
Indiana+54%
United States+53%
Typical rent
New Castle+11%
Henry County+14%
Indiana+29%
United States+33%
Typical household income
New Castle+34%
Henry County+27%
Indiana+28%
United States+29%
Change since 2015–2019: New Castle and its comparisons
Measure
New Castle
Henry County
Indiana
United States
Typical home value
+34%
+54%
+54%
+53%
Typical rent
+11%
+14%
+29%
+33%
Typical household income
+34%
+27%
+28%
+29%
The typical home value in New Castle rose 34% since 2015–2019, less than in Henry County (54%).
Rents in New Castle rose more slowly than in Henry County: 11% since 2015–2019, against 14%.
While home values in New Castle changed +34% and rent +11%, the typical household income rose 34%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: New Castle and its comparisons
Measure
New Castle
Henry County
Indiana
United States
Rental vacancy
Unreliable estimate
7.3%
5.6%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.8%
0.9%
More than one person per room
Unreliable estimate
1.1%
1.8%
3.4%
People per household
2.36
2.46
2.46
2.53
Drive alone
75%
79%
76%
69%
Carpool
11%
9%
9%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
3%
2%
2%
3%
Work from home
9%
9%
11%
15%
Other means
Unreliable estimate
Unreliable estimate
1%
2%
Typical commute
10 to 19 minutes
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
Much as in Henry County, a household in New Castle has 2.36 people on average.
In New Castle, 75% of workers drive alone to work; in Henry County, 79%.
Do the math
What would you pay each month for a home in New Castle?
A typical home is within reach of the typical income
We start with a typical home in New Castle, worth $98,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 19% of the typical household income in New Castle, which is $51,606 a year.
The calculator's FHA and conventional loan limits are those of all of Henry County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in New Castle. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $3,430 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$812
at 7.18% · 30 years
Loan amount
$96,225
Total interest
$138,445
Paid off in
November 2056
Includes $1,655 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,204 a month
Your payment · 19%
Tight
$1,204 to $1,548 a month
Hard
more than $1,548 a month
Compared with the typical household income in New Castle ($51,606 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$652
Property tax
$76
Home insurance
$41
FHA mortgage insurance (MIP)
$43
You need at least $3,430 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $812; principal and interest $652.
The city and its county
New Castle and Henry County
New Castle is in Henry County, Indiana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
New Castle
Map of Henry County, Indiana, with New Castle marked. Around it, the neighboring counties.
New Castle
Henry County
Other cities with a page
New Castle's own numbers
Typical home value
$98,000
Typical monthly rent
$781
Typical yearly household income
$51,606
Households that own their home
62%
Effective property tax rate
0.93%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Henry County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,014
Price change over 5 years (FHFA)
+56%
Homes in a high flood-risk zone
1.1%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Henry County.
A typical home in New Castle is worth $98,000: 37% below the county and 55% below Indiana. With the typical household income in New Castle ($51,606 a year), a typical home costs 1.9 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
New Castle1.9 years
Henry2.4 years
Indiana3.0 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Henry County
According to FHFA’s house price index, home prices in Henry County rose 97% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Henry County.
Yearly change in FHFA’s price index in Henry County, 2016 to 2025
2016: +0.8% +0.8% 2016
2017: +4.5% +4.5% 2017
2018: +8.0% +8.0% 2018
2019: +7.9% +7.9% 2019
2020: +2.3% +2.3% 2020
2021: +11.4% +11.4% 2021
2022: +15.4% +15.4% 2022
2023: +9.6% +9.6% 2023
2024: +8.8% +8.8% 2024
2025: +2.1% +2.1% 2025
Change in FHFA’s price index in Henry County, Indiana and the United States
Period
County
Indiana
U.S.
Last year (2025)
+2.1%
+4.3%
+2.9%
5 years (2020–2025)
+56%
+53%
+47%
10 years (2015–2025)
+97%
+95%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
New Castle next to Henry County, Indiana and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
New Castle$98,000
Henry$154,400
Indiana$218,200
United States$332,700
Typical monthly rent
New Castle$781
Henry$820
Indiana$1,062
United States$1,413
Typical yearly household income
New Castle$51,606
Henry$63,150
Indiana$71,957
United States$80,734
See the full table
New Castle next to Henry County and Indiana
Measure
New Castle
Henry County
Indiana
U.S.
Typical home value
$98,000 ▼37% below the county
$154,400
$218,200
$332,700
Typical monthly rent
$781 ▼5% below the county
$820
$1,062
$1,413
Typical yearly household income
$51,606 ▼18% below the county
$63,150
$71,957
$80,734
Households that own their home
62% ▼15 points below the county
76%
71%
65%
Typical yearly property tax
$911 ▼19% below the county
$1,124
$1,614
$3,119
Effective property tax rate
0.93% ▲0.2 points above the county
0.73%
0.74%
0.94%
Renters with high rent for their income
39% ▼2 points below the county
41%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Henry County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in New Castle
For a typical $98,000 home in New Castle, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, New Castle's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$812a month
Least cash to close
Down payment
$3,430
Cash to close
$6,370
Rate
7.18%
Mortgage insurance
FHA MIP · $43
Conventional, 5% down$794a month
Down payment
$4,900
Cash to close
$7,840
Rate
7.18%
Mortgage insurance
PMI · $47
Conventional, 20% down, no PMI$648a month
Down payment
$19,600
Cash to close
$22,540
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$738a month
Down payment
$14,700
Cash to close
$17,640
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in New Castle
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$812
$3,430
$96,225
7.18%
FHA MIP · $43
$6,370
580
Conventional, 5% down
$794
$4,900
$93,100
7.18%
PMI · $47
$7,840
620*
Conventional, 20% down, no PMI
$648
$19,600
$78,400
7.18%
None
$22,540
620*
ITIN, 15% down (example)
$738
$14,700
$83,300
8.18%
None
$17,640
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in New Castle is $781 a month: 5% below the county. In New Castle, 39% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Henry County, by unit size. To pay the 2-bedroom one ($1,014 a month) without spending more than 30% of your income, you would need to earn $19.50 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Henry County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$805
$15.48
$32,200
1 bedroom
$810
$15.58
$32,400
2 bedrooms
$1,014
$19.50
$40,560
3 bedrooms
$1,208
$23.23
$48,320
4 bedrooms
$1,333
$25.63
$53,320
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in New Castle
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). New Castle is in ZIP code 47362.
For 2 bedrooms it is $1,010: $4 less than the fair market rent for Henry County ($1,014).
Fair market rent by ZIP code and size in New Castle, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
47362
$810
$810
$1,010
$1,210
$1,340
ZIP code2 bd3 bd
47362 $1,010$1,210
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for New Castle when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 11 buildings with rents for lower incomes in New Castle. These are the largest.
Maplewood Terrace274 S 14th St, New Castle 47362156 low-income homes · Run by New Castle Housing Authority · Average payment: $395 a month · Average wait: 7 months(765) 529-1517
Stonegate Village Apts3302 Stonegate Dr, New Castle 47362122 low-income homes · 1 bd: 16 · 2 bd: 66 · 3 bd: 40 · In service since 2010 · For families(765) 529-2464
Foster's Landing Apts317 Fosters Way, New Castle 4736290 homes, 85 low-income · 1 bd: 12 · 2 bd: 48 · 3 bd: 16 · 4 bd: 14 · In service since 2002
Autumn Oaks Apts100 Autumn Oaks Blvd, New Castle 4736272 homes, 68 low-income · 1 bd: 16 · 2 bd: 32 · 3 bd: 24 · In service since 2000
Grand Avenue Commons1628 A Ave, New Castle 4736252 low-income homes · 1 bd: 29 · 2 bd: 23 · In service since 2005
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Henry County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for New Castle or Henry County. The ones below are statewide in Indiana: they work in New Castle the same as in the rest of the state.
Indiana state agency program with down payment assistance of 2.5% or 3.5% of the price, alongside a 30-year FHA or conventional mortgage.Offered by Indiana Housing and Community Development Authority (IHCDA).
Indiana state agency 30-year FHA or conventional mortgage for first-time buyers (or homes in designated areas), with down payment assistance as a second mortgage with no interest or payments, repaid when the first mortgage ends.Offered by Indiana Housing and Community Development Authority (IHCDA).
No legal help resource on our list is for New Castle or Henry County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for New Castle and all of Henry County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in New Castle?
The typical home value in New Castle is $98,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Henry County it is $154,400.
How much does it cost to rent in New Castle?
Typical rent in New Castle is $781 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Henry County is $1,014.
What is the FHA loan limit in New Castle?
New Castle uses the FHA limit for all of Henry County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in New Castle?
The typical homeowner in New Castle pays $911 a year, according to the U.S. Census Bureau. That is 0.93% of the home’s value; in Henry County, the rate is 0.73%.
Where can I find free help to buy or rent in New Castle?
We found no HUD-approved counseling agencies with an office in Henry County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
