At $854/mo, rent takes about 20% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $854 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in New Castle changed +5.7% over the year to September 2026. Across the 49 Indiana cities Zillow tracks, the typical change was +4.5%.
Rent has risen 4 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($51,606) is $1,290 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,250).
From Zillow's monthly rent index (ZORI) for New Castle. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
New Castle, IN is majority owner-occupied, has a median income below the national average, 13.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How New Castle, IN has changed in 5 years
Census figures show median household income at $51,606 today, compared with $46,112 five years earlier. About 38.5% of households rent today, against 35.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 16.4% to 13.3%.
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At $854/mo, how New Castle rent compares to typical pay (30% rule).
New Castle rent by bedroom count
Median rent for each apartment size in New Castle. Click any size for full breakdown.
Tips for renters in New Castle
Last updated: October 17, 2026
The median rent in New Castle is $854/mo as of October 2026. A studio apartment averages $730/mo while a 2-bedroom runs $930/mo. One-bedroom apartments average $730/mo and 3-bedroom units go for $1,130/mo.
At 20% of local median household income ($51,606/yr), New Castle ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.7% over the past year.
Frequently asked questions
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Is rent going up or down in New Castle?
How does New Castle rent compare to other cities in Indiana?
At $854/mo, rent takes ~20% of New Castle's median household income ($51,606/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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