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Cost of Living in New Castle

Is it better to rent or buy in New Castle? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$64,219
$921/mo

Median in area: $921

$162,000

Median in area: $162,000

$32,400

If you Rent

$1,126 /mo
Base Rent$921
Est. Utilities$205
% of Income21.0%
Pre-tax Residual$4,226

If you Buy

$1,264 /mo
P&I (6.978%)$860
Taxes & Ins$199
Est. Utilities$205
% of Income23.6%
Pre-tax Residual$4,087

Cost of Living FAQs

Is it cheaper to rent or buy in New Castle?›

Based on median housing data, renting is currently more affordable on a monthly basis in New Castle. The estimated all-in monthly cost for renting is $1,126, while owning a median-priced home with a 20% down payment is roughly $1,264 per month (a difference of $138).

How much do utilities cost in New Castle?›

The average monthly utility cost (electricity and natural gas) for a typical home in New Castle is approximately $205. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in New Castle?›

To comfortably afford the median rent and utilities in New Castle without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $45,040 per year.