The typical owner-occupied home in New Castle is worth about $77,400, 70% below the Pennsylvania median of $254,500 and 77% below the national median of $332,700. Owners pay a median $1,557 a year in property taxes, about 2.01% of their home's value, higher than the Pennsylvania rate of 1.30%. The median household earns $42,219 a year, so the median home costs 1.8 times the median income (3.3 times for Pennsylvania). 55% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
New Castle at a glance
| New Castle | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $77,400 | $254,500 | $332,700 |
| Median property tax paid per year | $1,557 | $3,311 | $3,119 |
| Property tax as a share of value | 2.01% | 1.30% | 0.94% |
| Median household income | $42,219 | $77,971 | $80,734 |
| Homes lived in by their owners | 55% | 69% | 65% |
| Owner homes with a mortgage | 53% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,079 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 21.4% | 19.4% | 21.0% |
| Median rent | $741 | $1,209 | $1,413 |
| Rent as a share of renters' income | 32.1% | 29.2% | 30.6% |
| Median year homes were built | 1944 | 1965 | 1980 |
| Vacant homes | 11.4% | 9.2% | 10.1% |
| Population | 21,579 | 13,018,639 | 334,922,499 |
What a typical home costs per month in New Castle
At this week's average 30-year rate of 7.11%, buying the median New Castle home of $77,400 with 20% down costs about $578 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $707, 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 $24,790 for the 20%-down payment. That payment is 16% of the median New Castle household income of $42,219; at that income and 20% down, the 28% guideline points to a home of about $132,000.
The median rent here is $741 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $15,480 |
|---|---|
| Loan amount | $61,920 |
| Principal and interest | $417 |
| Property taxes (2.01% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| PMI | $0 |
| Total per month | $578 |
Change the numbers in the calculator
| Down payment | $2,709 |
|---|---|
| Loan amount | $75,998 |
| Principal and interest | $511 |
| Property taxes (2.01% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| FHA mortgage insurance | $34 |
| Total per month | $707 |
Change the numbers in the calculator
Questions about home buying in New Castle
What is the median home value in New Castle?
About $77,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in New Castle?
Homeowners pay a median $1,557 a year, which is about 2.01% 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 New Castle?
For the median home with 20% down at 7.11%, the payment is about $578 a month. Keeping that under 28% of gross income takes about $24,790 a year.
More about New Castle
- Mortgage Refinance in New Castle
- Debt Relief in New Castle
- Home Equity Loans in New Castle
- 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