New Castle, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating New Castle Neighborhoods Since 2000




New Castle, DE Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

New Castle Housing Market Information

With 5,382 people, 2,318 houses or apartments, and a median cost of homes of $204,775, 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 43.12% of the city's housing units. Other types of housing that are prevalent in New Castle include row houses and other attached homes ( 26.54%), large apartment complexes or high rise apartments ( 18.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.20%).

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 64.11% owning and 35.89% renting.

The housing in New Castle was primarily built before 1939 ( 36.55%), 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 ( 24.15%), followed by between 1940-1969 ( 22.20%). There's also some housing in New Castle built between 2000 and later ( 17.10%).

New Castle Home Appreciation Rates

Homes have actually lost value in New Castle over the last then years, as home values have seen a decline of 19.52% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows New Castle home appreciation rates at 0.08%, which equates to an annual appreciation rate of 0.32%.

Over the last year, New Castle appreciation rates have trailed the rest of the nation. In the last twelve months, New Castle's appreciation rate has been 1.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Castle were at 0.08%, which equates to an annual appreciation rate of 0.32%.

Relative to Delaware, our data show that New Castle's latest annual appreciation rate is lower than 80% 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:
$204,775

New Castle, DE HOME PRICES

Value Range
> $1,058,000 0.9
$794,001 - $1,058,000 3.1
$530,001 - $794,000 1.7
$424,001 - $530,000 3.1
$318,001 - $424,000 5.1
$212,001 - $318,000 33.4
$106,001 - $212,000 43.5
$53,001 - $106,000 6.5
$0 - $53,000 2.6

Low for DE
High for Nation

Value Relative to Nation Value Relative to State
31.1203562639166 63.6363636363636

Number Of Homes And Apartments:
2,318

New Castle Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
40.94% 2.01% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,652 / per month

Homeownership Rate

Homeownership
Owners 64.11
Renters 35.89
Vacant 7.61

Housing Market Details

 

Age of Homes

AGE OF New Castle HOMES
2000 or Newer 17.1
1970 - 1999 24.2
1940 - 1969 22.2
1939 or Older 36.5

Types of Homes

TYPE OF New Castle HOMES
Single-Family 43.1
Townhomes 26.5
Small Apt. Buildings 11.2
Apt. Complexes 18.8
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF New Castle HOMES
No Bedroom 2.43
1 Bedroom 8.45
2 Bedrooms 28.26
3 Bedrooms 45.28
4 Bedrooms 12.55
5 or more bedrooms 3.03