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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 22,375, 9,579 total housing units (homes and apartments), and a median house value of $62,687, house prices in New Castle are some of the most affordable in Pennsylvania as well as the nation.
Single-family detached homes are the single most common housing type in New Castle, accounting for 71.05% of the city's housing units. Other types of housing that are prevalent in New Castle include duplexes, homes converted to apartments or other small apartment buildings ( 13.25%), large apartment complexes or high rise apartments ( 12.35%), and a few row houses and other attached homes ( 3.03%).
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 54.41% owning and 45.59% renting.
The housing in New Castle was primarily built before 1939 ( 47.11%), 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 1940-1969 ( 38.66%), followed by between 1970-1999 ( 13.60%).
Vacant housing appears to be an issue in New Castle. Fully 15.95% of the housing stock is classified as vacant. Left unchecked, vacant New Castle homes and apartments can be a drag on the real estate market, holding New Castle real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in New Castle have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.21%, which ranks in the top 50% nationwide. This equates to an annual average New Castle house appreciation rate of 0.22%.
NeighborhoodScout's data show that during the latest twelve months, New Castle's appreciation rate, at 3.29%, has been at or slightly above the national average. In the latest quarter, New Castle's appreciation rate has been -1.59%, which annualizes to a rate of -6.20%.
Notably, New Castle's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that New Castle's latest annual appreciation rate is higher than 60% of the other cities and towns in Pennsylvania.
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.
|$796,001 - $1,061,000||0.0|
|$531,001 - $796,000||0.5|
|$425,001 - $531,000||0.1|
|$319,001 - $425,000||1.5|
|$212,001 - $319,000||1.0|
|$106,001 - $212,000||9.9|
|$53,001 - $106,000||47.0|
|$0 - $53,000||40.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF New Castle HOMES|
|2000 or Newer||0.6|
|1970 - 1999||13.6|
|1940 - 1969||38.7|
|1939 or Older||47.1|
|TYPE OF New Castle HOMES|
|Small Apt. Buildings||13.2|
|SIZE OF New Castle HOMES|
|5 or more bedrooms||1.59|