New Castle, PA—16102
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 $108,000, with a year-over-year change of -0.1%. This indicates that home prices in New Castle, PA are flat. According to Zillow, the 1-year price projection is -1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $108,000 | -0.1% |
| Single Family | $108,000 | -0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $81,000 | -4.7% |
3 Bed | $142,000 | 2.2% |
4 Bed | $171,000 | 1.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Castle, PA
As of July '25, Rentcast reports the average rent in New Castle, PA is $774, with a year-over-year rent change of -2.5%. Per bedroom, the median rent as of July '25 in New Castle, PA is 2-bedrooms: $695, 3-bedrooms: $1,000, 4-bedrooms: $700. The most common rental property sizes in New Castle, PA are 2-bedroom and 3-bedroom, accounting for 38.5% and 30.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $695 | $774 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $695 | $695 |
| 3 Bed Rent | $1,000 | $1,000 |
| 4 Bed Rent | $600 | $700 |
% 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 94. This is a increase of 91.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $69,900 | -15.0% |
Listing Count | 22 | -19.0% |
| Listings as % of Homes | 1.3% | -19.0% |
Days on Market | 94 | 91.0% |
Demographics — New Castle, PA
As of the latest ACS Survey released in 2023, New Castle, PA has a population of 4,930, which has decreased by -17.3% over the past 5 years. New Castle, PA is a moderately popular place for families, as children make up 19.1% of the population. The area has a poorly educated workforce, with 18.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,930 | -17.3% |
% Under 18 | 19.1% | -15.1% |
% Seniors | 22.8% | 26.0% |
% WFH | 9.2% | 104.4% |
% w/ College Degree | 18.4% | -14.4% |
As of the latest ACS Survey released in 2023, New Castle, PA is a predominantly white area, with 90.7% of the population identifying as white. The white population has shrunk by 0.5% in the last 5 years. The second most common race or ethnicity in New Castle, PA is black, making up 2.3% of the population. Foreign-born residents account for 0.3% of the population in New Castle, PA, and this percentage has decreased by 76.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.7% | -0.5% |
% Black | 2.3% | -25.8% |
% Hispanic | 0.6% | 0.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.3% | -76.9% |
Mortgage and Risk — New Castle, PA
According to HUD data as of 2023, there were 17 mortgage originations in New Castle, PA, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 81.0%, with 59.0% above 90% LTV (very high). This implies large mortgage risk in New Castle, PA. Investor activity is low, as 6.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 17 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
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 | 64 |
Total Units Section 8 | 26 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | $305 | $695 | $1,000 |
| 3 Bedroom | $400 | $1,000 | $1,400 |
| 4 Bedroom | $990 | $600 | $1,590 |
Affordability — New Castle, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $108,000 |
| Median Household Income | $52,500 |