States › Indiana › New Castle

Is New Castle, IN expensive to live in?

CheapRent takes 19 cents of every $1 people earn here.
🏠 Rent per month (2026)$86051% lower than U.S. average
💵 Families earn per year (2026)$55,657about $4,638/month · 36% lower than U.S. average
🔑 House price$98,00071% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $34,400 a year. That is $17 an hour at a full-time job.

Is rent cheaper than other Indiana cities?

Yes. Rent here is cheaper than in most of Indiana. It is number 11 of 132 cities from cheapest to most expensive.

New Castle
$860
Huntington
$957
Logansport
$959
Lebanon
$1,097
Warsaw
$1,546
Vincennes
$968
Crawfordsville
$1,063

How much do households earn in New Castle?

Under $25k
23.2%
$25k–50k
28.2%
$50k–100k
32.9%
$100k–150k
8.0%
$150k+
2.3%

Share of households by yearly income. 10.3% of households earn $100,000 or more.

Rent by apartment size in New Castle

SizeNew CastleU.S. average
1 bedroom$670$1,324
2 bedrooms$937$1,509
3 bedrooms$1,073$1,698
4 bedrooms$1,014$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is New Castle overall?

Everyday prices in Indiana overall are 7% below the U.S. average (index 93.3, U.S. = 100).

Housing
74
Goods (food, clothes…)
96
Utilities
86
Other services
99
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for New Castle, so the Indiana figure is shown.

Taxes and bills in New Castle

🏛️ Property tax$911a year · 0.93% of home value · U.S. $3,119
⚡ Electric bill$126a month (typical) · U.S. $156

Life in New Castle

Commute to work20.8 minU.S.: 26.4 min
College degree13.3%U.S.: 35.7%
Own their home61.5%U.S.: 65.2%
Below poverty line20.1%U.S.: 12.5%
Unemployment4.9%U.S.: 5.2%

Is it cheaper to rent or buy in New Castle?

Buying is cheaper month to month: about $180 a month less than renting.

Renting
$860
Owning
$680

Owning assumes a typical $98,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $9,800 for the down payment.

Frequently asked questions

What is the average rent in New Castle, IN?

Renting in New Castle costs a median of about $860 a month in 2026, including utilities. The Indiana median is $1,219.

How much do I need to make to live in New Castle?

To keep rent under 30% of income, you need about $34,400 a year, or $17 an hour at a full-time job.

Is New Castle cheap or expensive?

New Castle is rated Cheap: rent takes 18.5% of the typical household income of $55,657. It ranks 11th cheapest of 132 Indiana cities we track.

How much are property taxes in New Castle?

The median homeowner in New Castle pays $911 a year in property taxes, about 0.93% of the median home value.

Is New Castle more expensive than the national average?

Overall prices in Indiana are 7% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in New Castle?

The median home value in New Castle is $98,000, about 1.8 times the typical yearly household income.

17,367 people live in New Castle. Numbers are typical (middle) values.