What is the average home price in New Castle, VA 24127?

As of May '26, the median home price in New Castle, VA 24127 is $229,000, based on Zillow home estimates.

How have home prices in New Castle, VA 24127 changed over the past year?

As of May '26, home prices have increased 5.4% over the past year, according to Zillow home estimates data.

What is the home price projection for New Castle, VA 24127?

As of May '26, Zillow projects home prices in New Castle, VA 24127 to increase 1.9% in the next year.

What are the demographics of New Castle, VA 24127?

According to the latest Census, the demographics of New Castle, VA 24127 are 97.1% White, 0.1% Black, 0.0% Asian, 0.9% Hispanic. The population is 4,180, with 26.4% under 18 years old.

How long does it take homes to sell in New Castle, VA 24127?

According to Realtor.com, as of May '26, the median home in New Castle, VA 24127 is on the market for 61 days. This is a decrease of 22.0% from last year.

What is the average rent price in New Castle, VA 24127?

The average rent price in New Castle, VA 24127, as of the latest data, is N/A. The average rent for 1 bedroom homes is N/A. For 2, 3, and 4 bedroom homes, the average rent is N/A, N/A, and N/A respectively.

New Castle, VA 24127 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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New Castle, VA—24127

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$229,000

5.4% YoY Growth

Household Income

$59,100

26.0% YoY Growth

Days on Market

22.0% Shorter YoY

Home Price Forecast

1.9%

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — New Castle, VA

As of May '26, the median home price in New Castle, VA is $229,000, with a year-over-year change of 5.4%. This indicates that home prices in New Castle, VA are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$229,000	5.4%
Single Family	$229,000	6.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

0.7%

2 Bedrooms

78.1%

3 Bedrooms

21.2%

Property Listings — New Castle, VA

As of May '26, Realtor.com reports that the median days on market for a home in New Castle, VA is 61. This is a decrease of -22.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$327,000	41.0%
Listing Count	17	0.0%
Listings as % of Homes	0.3%	0.0%
Days on Market	61	-22.0%

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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%

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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%	∞%

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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%

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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

New Castle, VA—24127

Key Metrics at a Glance

Home Price Trends — New Castle, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Castle, VA

% of Rental Stock

Property Listings — New Castle, VA

Demographics — New Castle, VA

Race and Ethnicity

Mortgage and Risk — New Castle, VA

Mortgages

Rentals and Section 8 — New Castle, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — New Castle, VA

Home Price to Income Ratio

New Castle, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Catawba, VA

Salem, VA

Elliston, VA

Troutville, VA

Roanoke, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$229,000
Median Household Income	$59,100