New Castle, VA—24127
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Castle, VA
As of Oct '25, the median home price in New Castle, VA is $210,000, with a year-over-year change of 4.8%. This indicates that home prices in New Castle, VA are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $210,000 | 4.8% |
| Single Family | $211,000 | 5.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Castle, VA
New Castle, VA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Castle, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in New Castle, VA is 126. This is a increase of 105.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $208,000 | 23.0% |
Listing Count | 14 | 71.0% |
| Listings as % of Homes | 0.3% | 71.0% |
Days on Market | 126 | 105.0% |
Demographics — New Castle, VA
As of the latest ACS Survey released in 2023, New Castle, VA has a population of 4,180, which has increased by 16.2% over the past 5 years. New Castle, VA is a popular place for families, as children make up 26.4% of the population. The area has a poorly educated workforce, with 14.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,180 | 16.2% |
% Under 18 | 26.4% | 109.5% |
% Seniors | 19.0% | -26.1% |
% WFH | 9.6% | 336.4% |
% w/ College Degree | 14.9% | -21.6% |
As of the latest ACS Survey released in 2023, New Castle, VA is a predominantly white area, with 97.1% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in New Castle, VA is hispanic, making up 0.9% of the population. Foreign-born residents account for 0.6% of the population in New Castle, VA, and this percentage has increased by Inf% 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 | 97.1% | -2.7% |
% Black | 0.1% | -50.0% |
% Hispanic | 0.9% | 800.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.6% | ∞% |
Mortgage and Risk — New Castle, VA
According to HUD data as of 2023, there were 83 mortgage originations in New Castle, VA, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 82.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in New Castle, VA. Investor activity is low, as 6.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 83 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 6.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — New Castle, VA
New Castle, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 12 |
Total Units Section 8 | 12 |
% Rentals under Section 8 | 4.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $810 |
| 2 Bedroom | N/A | N/A | $980 |
| 3 Bedroom | N/A | N/A | $1,370 |
| 4 Bedroom | N/A | N/A | $1,590 |
Affordability — New Castle, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $210,000 |
| Median Household Income | $59,100 |