New Castle, PA—16105
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 $203,000, with a year-over-year change of 4.3%. This indicates that home prices in New Castle, PA are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $203,000 | 4.3% |
| Single Family | $199,000 | 3.6% |
| Condos | $258,000 | 2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $157,000 | 4.0% |
3 Bed | $201,000 | 4.1% |
4 Bed | $309,000 | 4.7% |
| 5 Bed | $350,000 | 5.1% |
% of Housing Stock
Rental Trends — New Castle, PA
As of July '25, Rentcast reports the average rent in New Castle, PA is $1,420, with a year-over-year rent change of 46.2%. Per bedroom, the median rent as of July '25 in New Castle, PA is studios: $1,990, 1-bedrooms: $675, 2-bedrooms: $1,220, 3-bedrooms: $1,150. The most common rental property sizes in New Castle, PA are 2-bedroom and 3-bedroom, accounting for 36.5% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,420 |
| Studio Rent | $800 | $1,990 |
| 1 Bed Rent | $675 | $675 |
| 2 Bed Rent | $1,000 | $1,220 |
| 3 Bed Rent | $1,000 | $1,150 |
| 4 Bed Rent | N/A | N/A |
% 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 72. This is a increase of 29.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $244,000 | 7.0% |
Listing Count | 81 | 7.0% |
| Listings as % of Homes | 1.1% | 7.0% |
Days on Market | 72 | 29.0% |
Demographics — New Castle, PA
As of the latest ACS Survey released in 2023, New Castle, PA has a population of 15,200, which has remained stable by -0.6% over the past 5 years. New Castle, PA is a moderately popular place for families, as children make up 18.7% of the population. The area has a moderately educated workforce, with 34.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,200 | -0.6% |
% Under 18 | 18.7% | -7.4% |
% Seniors | 26.2% | 16.4% |
% WFH | 12.1% | 195.1% |
% w/ College Degree | 34.7% | 2.1% |
As of the latest ACS Survey released in 2023, New Castle, PA is a predominantly white area, with 93.5% of the population identifying as white. The white population has remained stable in the last 5 years. The second most common race or ethnicity in New Castle, PA is black, making up 2.8% of the population. Foreign-born residents account for 2.3% of the population in New Castle, PA, and this percentage has increased by 4.5% 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 | 93.5% | 0.0% |
% Black | 2.8% | 86.7% |
% Hispanic | 2.0% | -25.9% |
% Asian | 0.7% | -30.0% |
% Foreign Born | 2.3% | 4.5% |
Mortgage and Risk — New Castle, PA
According to HUD data as of 2023, there were 300 mortgage originations in New Castle, PA, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in New Castle, PA. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 300 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
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 | 266 |
Total Units Section 8 | 228 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $225 | $675 | $900 |
| 2 Bedroom | $180 | $1,000 | $1,180 |
| 3 Bedroom | $650 | $1,000 | $1,650 |
| 4 Bedroom | N/A | N/A | $1,880 |
Affordability — New Castle, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $203,000 |
| Median Household Income | $67,300 |