New Castle, PA—16101
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Castle, PA
As of Oct '25, the median home price in New Castle, PA is $112,000, with a year-over-year change of -0.9%. This indicates that home prices in New Castle, PA are flat. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $112,000 | -0.9% |
| Single Family | $110,000 | -1.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $60,000 | -6.2% |
2 Bed | $96,000 | -2.0% |
3 Bed | $136,000 | 0.0% |
4 Bed | $147,000 | 0.7% |
| 5 Bed | $104,000 | -1.9% |
% of Housing Stock
Rental Trends — New Castle, PA
As of July '25, Rentcast reports the average rent in New Castle, PA is $920, with a year-over-year rent change of 6.7%. Per bedroom, the median rent as of July '25 in New Castle, PA is studios: $675, 1-bedrooms: $705, 2-bedrooms: $927, 3-bedrooms: $1,030, 4-bedrooms: $1,350. The most common rental property sizes in New Castle, PA are 3-bedroom and 1-bedroom, accounting for 28.5% and 28.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $850 | $920 |
| Studio Rent | $675 | $675 |
| 1 Bed Rent | $700 | $705 |
| 2 Bed Rent | $925 | $927 |
| 3 Bed Rent | $900 | $1,030 |
| 4 Bed Rent | $1,200 | $1,350 |
% of Rental Stock
Property Listings — New Castle, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in New Castle, PA is 104. This is a increase of 70.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $77,400 | -21.0% |
Listing Count | 194 | 12.0% |
| Listings as % of Homes | 0.7% | 12.0% |
Days on Market | 104 | 70.0% |
Demographics — New Castle, PA
As of the latest ACS Survey released in 2023, New Castle, PA has a population of 31,000, which has decreased by -4.7% over the past 5 years. New Castle, PA is a moderately popular place for families, as children make up 21.4% of the population. The area has a poorly educated workforce, with 18.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,000 | -4.7% |
% Under 18 | 21.4% | 8.6% |
% Seniors | 22.4% | 1.8% |
% WFH | 10.8% | 440.0% |
% w/ College Degree | 18.1% | 7.7% |
As of the latest ACS Survey released in 2023, New Castle, PA is a predominantly white area, with 82.1% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in New Castle, PA is black, making up 7.4% of the population. Foreign-born residents account for 2.1% of the population in New Castle, PA, and this percentage has increased by 50.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.1% | -5.7% |
% Black | 7.4% | -5.1% |
% Hispanic | 3.4% | 183.3% |
% Asian | 0.2% | 0.0% |
% Foreign Born | 2.1% | 50.0% |
Mortgage and Risk — New Castle, PA
According to HUD data as of 2023, there were 658 mortgage originations in New Castle, PA, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in New Castle, PA. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 658 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — New Castle, PA
New Castle, PA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,345 |
Total Units Section 8 | 614 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $700 | $690 |
| 2 Bedroom | -$15 | $925 | $910 |
| 3 Bedroom | $370 | $900 | $1,270 |
| 4 Bedroom | $250 | $1,200 | $1,450 |
Affordability — New Castle, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $112,000 |
| Median Household Income | $50,500 |