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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



New Castle, DE Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

New Castle, DE Housing Market Trends

With 5,533 people, 2,711 houses or apartments, and a median cost of homes of $353,962, New Castle real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in New Castle, accounting for 41.81% of the city's housing units. Other types of housing that are prevalent in New Castle include row houses and other attached homes ( 28.77%), large apartment complexes or high rise apartments ( 19.98%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.44%).

The most prevalent building size and type in New Castle are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.96% owning and 38.04% renting.

The housing in New Castle was primarily built before 1939 ( 29.76%), making the housing stock in New Castle some of the oldest overall in America, although there is a range of ages of homes in New Castle. The next most important housing age is between 1970-1999 ( 27.16%), followed by between 1940-1969 ( 23.64%). There's also some housing in New Castle built between 2000 and later ( 19.43%).

New Castle Home Appreciation Rates

Real estate appreciation rates in New Castle's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.95% during the period.

NeighborhoodScout's data show that during the latest twelve months, New Castle's appreciation rate, at 7.60%, has been at or slightly above the national average. In the latest quarter, New Castle's appreciation rate has been 2.18%, which annualizes to a rate of 9.02%.

Relative to Delaware, our data show that New Castle's latest annual appreciation rate is higher than 60% of the other cities and towns in Delaware.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within New Castle differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Castle - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best New Castle real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$353,962

New Castle, DE Home Prices
> $1,388,000
$1,041,001 - $1,388,000
$694,001 - $1,041,000
$555,001 - $694,000
$416,001 - $555,000
$278,001 - $416,000
$139,001 - $278,000
$69,001 - $139,000
$0 - $69,000
2.3%
2.3%
0.7%
0.7%
1.1%
1.1%
11.6%
11.6%
8.9%
8.9%
44.4%
44.4%
29.9%
29.9%
0.8%
0.8%
0.3%
0.3%
0% 100.0%
% of Homes
Low

for Delaware

High

for nation

Number of Homes And Apartments:

2,711

New Castle Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,678 / per month

Homeownership Rate

Owners
Renters
62.0%
62.0%
38.0%
38.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.3%
7.3%
92.7%
92.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
19.4%
19.4%
27.2%
27.2%
23.6%
23.6%
29.8%
29.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
41.8%
41.8%
28.8%
28.8%
9.4%
9.4%
20.0%
20.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
15.0%
15.0%
31.3%
31.3%
41.0%
41.0%
8.8%
8.8%
3.8%
3.8%
0% 100.0%
% of Homes