New Castle, DE—19720
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Castle, DE
As of Oct '25, the median home price in New Castle, DE is $276,000, with a year-over-year change of 3.4%. This indicates that home prices in New Castle, DE are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $276,000 | 3.4% |
| Single Family | $278,000 | 2.6% |
| Condos | $169,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $179,000 | 8.5% |
2 Bed | $208,000 | 3.0% |
3 Bed | $262,000 | 2.7% |
4 Bed | $362,000 | 3.4% |
| 5 Bed | $414,000 | 3.2% |
% of Housing Stock
Rental Trends — New Castle, DE
As of July '25, Rentcast reports the average rent in New Castle, DE is $1,860, with a year-over-year rent change of 8.1%. Per bedroom, the median rent as of July '25 in New Castle, DE is studios: $1,620, 1-bedrooms: $1,460, 2-bedrooms: $1,480, 3-bedrooms: $2,190, 4-bedrooms: $2,990. The most common rental property sizes in New Castle, DE are 2-bedroom and 1-bedroom, accounting for 47.4% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,860 |
| Studio Rent | $1,350 | $1,620 |
| 1 Bed Rent | $1,450 | $1,460 |
| 2 Bed Rent | $1,500 | $1,480 |
| 3 Bed Rent | $2,200 | $2,190 |
| 4 Bed Rent | $2,500 | $2,990 |
% of Rental Stock
Property Listings — New Castle, DE
As of Oct '25, Realtor.com reports that the median days on market for a home in New Castle, DE is 33. This is a increase of 4.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $324,000 | -1.0% |
Listing Count | 111 | 8.0% |
| Listings as % of Homes | 0.4% | 8.0% |
Days on Market | 33 | 4.0% |
Demographics — New Castle, DE
As of the latest ACS Survey released in 2023, New Castle, DE has a population of 60,600, which has decreased by -1.2% over the past 5 years. New Castle, DE is a moderately popular place for families, as children make up 21.9% of the population. The area has a poorly educated workforce, with 21.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 60,600 | -1.2% |
% Under 18 | 21.9% | -6.0% |
% Seniors | 14.9% | 15.5% |
% WFH | 13.8% | 527.3% |
% w/ College Degree | 21.6% | 5.4% |
As of the latest ACS Survey released in 2023, New Castle, DE is a predominantly black area, with 43.3% of the population identifying as black. The black population has grown by 3.6% in the last 5 years. The second most common race or ethnicity in New Castle, DE is white, making up 34.8% of the population. Foreign-born residents account for 12.2% of the population in New Castle, DE, and this percentage has increased by 10.9% 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 | 34.8% | -11.5% |
% Black | 43.3% | 3.6% |
% Hispanic | 17.4% | 22.5% |
% Asian | 1.7% | -46.9% |
% Foreign Born | 12.2% | 10.9% |
Mortgage and Risk — New Castle, DE
According to HUD data as of 2023, there were 933 mortgage originations in New Castle, DE, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in New Castle, DE. Investor activity is low, as 3.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 933 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — New Castle, DE
As of 2024, the percent of homes in New Castle, DE under the Section 8 program is 9.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in New Castle, DE, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 686 |
Total Units Section 8 | 672 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 76.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$80 | $1,450 | $1,370 |
| 2 Bedroom | $130 | $1,500 | $1,630 |
| 3 Bedroom | -$240 | $2,200 | $1,960 |
| 4 Bedroom | -$270 | $2,500 | $2,230 |
Affordability — New Castle, DE
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $276,000 |
| Median Household Income | $76,000 |