The typical owner-occupied home in Newcastle is worth about $271,800, 36% above the Oklahoma median of $199,800 and 18% below the national median of $332,700. Owners pay a median $2,502 a year in property taxes, about 0.92% of their home's value, higher than the Oklahoma rate of 0.80%. The median household earns $93,398 a year, so the median home costs 2.9 times the median income (3.1 times for Oklahoma). 84% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Newcastle at a glance
| Newcastle | Oklahoma | U.S. | |
|---|---|---|---|
| Median home value | $271,800 | $199,800 | $332,700 |
| Median property tax paid per year | $2,502 | $1,599 | $3,119 |
| Property tax as a share of value | 0.92% | 0.80% | 0.94% |
| Median household income | $93,398 | $65,039 | $80,734 |
| Homes lived in by their owners | 84% | 66% | 65% |
| Owner homes with a mortgage | 66% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,862 | $1,539 | $1,963 |
| Those costs as a share of the owners' income | 20.2% | 19.6% | 21.0% |
| Median rent | $1,105 | $1,014 | $1,413 |
| Rent as a share of renters' income | 29.9% | 28.4% | 30.6% |
| Median year homes were built | 2002 | 1980 | 1980 |
| Vacant homes | 5.5% | 12.0% | 10.1% |
| Population | 13,001 | 4,028,634 | 334,922,499 |
What a typical home costs per month in Newcastle
At this week's average 30-year rate of 7.11%, buying the median Newcastle home of $271,800 with 20% down costs about $1,784 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,237, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $76,473 for the 20%-down payment. That payment is 23% of the median Newcastle household income of $93,398; at that income and 20% down, the 28% guideline points to a home of about $332,000.
The median rent here is $1,105 a month, so owning the median home costs about $679 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $54,360 |
|---|---|
| Loan amount | $217,440 |
| Principal and interest | $1,463 |
| Property taxes (0.92% a year) | $208 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| PMI | $0 |
| Total per month | $1,784 |
Change the numbers in the calculator
| Down payment | $9,513 |
|---|---|
| Loan amount | $266,877 |
| Principal and interest | $1,795 |
| Property taxes (0.92% a year) | $208 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| FHA mortgage insurance | $120 |
| Total per month | $2,237 |
Change the numbers in the calculator
Questions about home buying in Newcastle
What is the median home value in Newcastle?
About $271,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Newcastle?
Homeowners pay a median $2,502 a year, which is about 0.92% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Newcastle?
For the median home with 20% down at 7.11%, the payment is about $1,784 a month. Keeping that under 28% of gross income takes about $76,473 a year.
More about Newcastle
- Mortgage Refinance in Newcastle
- Debt Relief in Newcastle
- Home Equity Loans in Newcastle
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data