Rentometer, Inc. | Data as of 10/23/2025
New Castle, Indiana, offers a vibrant metro rental market that balances small‑town charm with convenient access to larger urban centers. Residents enjoy a mix of housing options, from historic single‑family homes to modern apartment communities within walking distance of downtown boutiques, cafés, and cultural venues such as the Strand Theatre. The city's well‑maintained parks, including River Run Nature Preserve and the popular New Castle City Lake, provide ample opportunities for outdoor recreation, while nearby colleges and medical facilities contribute to a steady demand for rental housing.
Apartment living is particularly appealing in New Castle, with 1‑bedroom units typically renting in the $800‑$900 range and 2‑bedroom apartments often found in the $900‑$1,100 range. These price points reflect a competitive market that attracts young professionals, students, and families seeking affordable yet comfortable accommodations. Many complexes feature modern amenities like fitness centers, on‑site laundry, and pet‑friendly policies, enhancing the overall quality of life for renters.
The city’s strategic location along major highways connects commuters to Indianapolis and other regional employment hubs, making New Castle an attractive base for those who value a shorter commute without sacrificing lifestyle amenities. With its blend of historic neighborhoods, thriving downtown scene, and accessible transportation, New Castle continues to be a desirable destination for renters seeking both affordability and a welcoming community atmosphere.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $836 | $912 | $376 - $992 | $855 - $971 |
| Apartment | 2 Bedroom | $913 | $1,009 | $459 - $1,176 | $999 - $1,176 |
In the current period, the average rent in New Castle, IN was $836 for 1 Bedroom, and $911 for 2 Bedroom.
Data provided by Rentometer, Inc.