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ZIP Code · IN

ZIP 47362

Pop. 29,337·Henry County·144th most expensive ZIP in Indiana
Median rent (all units)
$709/mo
Year-over-Year
-20.4%
Month-over-Month
-17.2%
vs US Median
-$1,256
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 47362 · $709
More affordable than 100% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$555
1 BR
$562
2 BR
$692
3 BR
$829
4 BR+
$916
Research median
$692/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$8,508/yr
At $709/mo median
Location
StateIN
CountyHenry County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 20.4% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-20.4% YoY, -17.2% MoM), not inventory.
Demographics

Who lives here

ZIP 47362 (New Castle, IN) is majority owner-occupied, has a median income below the national average, 14.8% of residents hold a bachelor's degree or higher.

Population
29,337
Median income
$60,258
Median age
42.3
Renters
27.6%
Age distribution
19%
22.5%
26.5%
13.5%
18.6%
Under 1819%
18–3422.5%
35–5426.5%
55–6413.5%
65+18.6%
Gender
53.6%
46.4%
Male53.6%
Female46.4%
Race & ethnicity
90.9%
White90.9%
Black3.4%
Hispanic2.1%
Asian0.6%
Other3%
Education (25+)
42.5%
31.8%
14.8%
No HS diploma10.8%
HS diploma42.5%
Some college31.8%
Bachelor's+14.8%
Housing tenure
72.4%
27.6%
Owner72.4%
Renter27.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 47362 in New Castle, IN has changed in 5 years

Income
$51,628 → $60,258
up 16.7%
Population
29,463 → 29,337
down 0.4%
Renter share
26.5% → 27.6%
+1.1 pts
Bachelor's+
16% → 14.8%
-1.2 pts

Median household income climbed from $51,628 to $60,258 between 2021 and 2024, a 16.7% shift.

Community

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Local insights

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About renting in ZIP 47362

Last updated: July 20, 2026

ZIP code 47362 covers New Castle, IN. The median rent here is $709/mo as of July 2026. A 1-bedroom rents for a median of $562/mo. A 2-bedroom rents for a median of $692/mo.

At 14% of local median household income ($60,258/yr), ZIP 47362 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 20.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 47362?

As of July 20, 2026, the median monthly rent in ZIP 47362 (New Castle, IN) is $709. This is based on aggregated data from public sources and community submissions.

How does ZIP 47362 rent compare to the US average?

ZIP 47362's median rent of $709/mo is $1,256 (64%) below the US national median of $1,965/mo.

How does ZIP 47362 compare to other ZIPs in Indiana?

ZIP 47362 is among the more affordable ZIP codes in Indiana, ranking #144 out of 144 ZIPs at $709/mo.

How much income do you need to rent in ZIP 47362?

To keep rent at or below 30% of gross income, you would need to earn at least $28,000/year (~$13/hour full-time) to afford the median rent of $709/mo in ZIP 47362. The local median household income is $60,258/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 47362?

Rent in ZIP 47362 has decreased 20.4% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 47362 an affordable place to rent?

ZIP 47362 is considered very affordable for renters. At $709/mo, rent takes approximately 14% of the local median household income ($60,258/yr). The standard benchmark is 30%. ZIP 47362 falls comfortably within that range.

What percentage of ZIP 47362 residents rent vs. own?

According to Census data, approximately 27.6% of ZIP 47362 households are renters, while 72.4% are owner-occupied. ZIP 47362 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 47362 compare to the rest of New Castle?

ZIP 47362 is more affordable than New Castle overall. At $709/mo, it's $47 below the New Castle citywide median of $756/mo.

When was rent data for ZIP 47362 last updated?

Rent data for ZIP 47362 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
14%
VERY AFFORDABLE

At $709/mo, rent takes ~14% of ZIP 47362's median household income ($60,258/yr). The standard benchmark is 30%.

ZIP 47362 14%Benchmark 30%
State income tax3.05%
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Schools nearby

Public schools near ZIP 47362 (New Castle, IN)

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