New Castle, DE 19720 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

New Castle, DE—19720

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$277,000

2.8% YoY Growth

Household Income

$76,000

25.8% YoY Growth

Days on Market

7.0% Longer YoY

Home Price Forecast

1.6%

Median Rent

$1,700

8.1% YoY Growth

1-Bed Rent

$1,450

5.2% YoY Growth

2-Bed Rent

$1,500

13.5% YoY Growth

3-Bed Rent

$2,200

10.6% YoY Growth

Home Price Trends — New Castle, DE

As of Dec '25, the median home price in New Castle, DE is $277,000, with a year-over-year change of 2.8%. This indicates that home prices in New Castle, DE are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$277,000	2.8%
Single Family	$280,000	2.2%
Condos	$171,000	-1.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

1.9%

1 Bedroom

29.1%

2 Bedrooms

47.4%

3 Bedrooms

18.7%

4 Bedrooms

2.8%

5+ Bedrooms

0.1%

Property Listings — New Castle, DE

As of Dec '25, Realtor.com reports that the median days on market for a home in New Castle, DE is 37. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$321,000	-2.0%
Listing Count	97	-13.0%
Listings as % of Homes	0.4%	-13.0%
Days on Market	53	7.0%

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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%

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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%

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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%

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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

New Castle, DE—19720

Key Metrics at a Glance

Home Price Trends — New Castle, DE

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Castle, DE

% of Rental Stock

Property Listings — New Castle, DE

Demographics — New Castle, DE

Race and Ethnicity

Mortgage and Risk — New Castle, DE

Mortgages

Rentals and Section 8 — New Castle, DE

Section 8 Market Size

Section 8 Opportunity

Affordability — New Castle, DE

Home Price to Income Ratio

New Castle, DE — ZIP Code Boundary Map

Nearby ZIP Codes

Wilmington, DE

Delaware City

Saint Georges

Pennsville, NJ

Wilmington, DE

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$277,000
Median Household Income	$76,000

New Castle, DE—19720

Key Metrics at a Glance

Home Price Trends — New Castle, DE

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Castle, DE

% of Rental Stock

Property Listings — New Castle, DE

Demographics — New Castle, DE

Race and Ethnicity

Mortgage and Risk — New Castle, DE

Mortgages

Rentals and Section 8 — New Castle, DE

Section 8 Market Size

Section 8 Opportunity

Affordability — New Castle, DE

Home Price to Income Ratio

New Castle, DE — ZIP Code Boundary Map

Nearby ZIP Codes

Wilmington, DE

Delaware City

Saint Georges

Pennsville, NJ

Wilmington, DE

Frequently Asked Questions

What is the average home price in New Castle, DE 19720?

How have home prices in New Castle, DE 19720 changed over the past year?

What is the home price projection for New Castle, DE 19720?

What are the demographics of New Castle, DE 19720?

How long does it take homes to sell in New Castle, DE 19720?

What is the average rent price in New Castle, DE 19720?