Cost of Living in New Castle, IN
Population 17,356 · Indiana · Data vintage 2023
(100 = US avg)
New Castle is a smaller Indiana community of around 17000 residents, where median household incomes of $48,977 and housing costs ($95,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape.
New Castle is about 30 miles east of Fishers, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 74% lower than Fishers' $370,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in New Castle
The median home value in New Castle is $95,100 — 69% below the national median of $305,000. Median rent runs $797/month, 39% lower than the national median of $1,314/month. The median household income of $48,977/year is 34% lower than the US median of $74,580. The local unemployment rate is 5.7%, above the national average of 4.8%. Indiana's top state income tax rate is 3.0% and the combined sales tax is 7.0%. Overall, New Castle has a cost of living index of 43 versus the US average of 100, meaning it is 57% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in New Castle, IN?
New Castle has a cost index of 43 (100 = national average). It is 57% below the national average.
What is average rent in New Castle, IN?
The median gross rent in New Castle is $797 per month based on 2023 Census data.
What is the average home price in New Castle?
The median home value in New Castle is $95,100 according to Zillow and Census data.
What is the median income in New Castle?
The median household income in New Castle is $48,977 per year (2023 ACS 5-year estimates).
What is the sales tax in New Castle, IN?
The combined state and local sales tax rate in New Castle is 7.0%. The Indiana state income tax top rate is 3.0%.
Is New Castle, IN affordable?
Yes, New Castle is generally considered affordable, with a cost of living index of 43 — about 57% below the US national average of 100.
New Castle at a Glance
- Population
- 17,356
- Median Income
- $48,977
- Home Value
- $95,100
- Median Rent
- $797/mo
- Unemployment
- 5.7%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Indiana Rankings
Similar Cost Cities
Cities in other states with comparable housing costs