Homes & Apartments for Rent in New Castle, IN 47362

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What to Know About

Life in New Castle & Beyond

New Castle shares many of the great qualities that make Indiana a desirable place to live.

Indiana is where the past meets the present, and the great outdoors is right at your fingertips. Get to know the rich cultural heritage of this Midwestern gem by visiting incredible museums like the Eiteljorg Museum of American Indians and Western Art, or check out the top universities like Purdue University and Indiana University. Indiana is a hub of economic activity, with its thriving manufacturing, agriculture, and transportation industries.

The state also offers plenty of opportunities for those seeking adventure and excitement. From exploring the beautiful state parks to fishing in its many lakes and rivers, Indiana is a nature-lovers paradise from the Hoosier National Forest to the Ohio River. And for sports fans, check out the Indianapolis Colts (NFL) and Indiana Pacers (NBA) or catch a game at universities like Purdue or Indiana. In addition, discover famous attractions like the Indianapolis Motor Speedway, home of the world-famous Indianapolis 500 race, the Children's Museum of Indianapolis, and the historic town of Brown County.

With its strong economy, quality education, and lively atmosphere, Indiana is the perfect place to live.

Rental Market Trends

New Castle, IN

As of October 2026, New Castle's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. New Castle's average rent is 25.4% ($323) lower than the Indiana average of $1,270 and 47.9% ($872) lower than the U.S. average of $1,819.

Average Rent
$947
Monthly ChangeMonth Over Month Change
Increased15.1% ($124)
Yearly ChangeYear Over Year Change
Increased3.3% ($30)
Avg. Days on MarketAverage Days on Market
29
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $765 Increased4.1% ($30) Increased10.7% ($74)
2 Beds $1,001 Decreased2.2% ($22) Decreased0.6% ($6)
3 Beds $1,162 Increased0.4% ($5) Decreased11.1% ($145)
Nearby Cities Average Rent Avg. Rent vs. New CastleAverage Rent vs. New Castle Avg. Days on MarketAverage Days on Market
Middletown $888 Decreased6.2% ($59) 28 days
Muncie $980 Increased3.5% ($33) 32 days
Yorktown $1,517 Increased60.2% ($570) 32 days
Anderson $956 Increased1% ($9) 36 days
Pendleton $1,671 Increased76.5% ($724) 31 days
Rental market trends are calculated using listing data from RentalSource.
Property Managers

Who Has Rentals in Indiana

137 property managers have 2,740 rentals available in Indiana right now, including Granite Student Living - Bloomington (238), MiddleTown Living (178) and T&H Realty Services (109).

Compare property managers in Indiana
Frequently Asked Questions
New Castle Rental Market FAQs

Explore rental prices, market trends, and availability in New Castle, IN.

The average rent in New Castle, IN is $947 per month.
Homes in New Castle typically rent for between $600 and $1,511 per month, with an average of $947 per month.
In New Castle, the average rent for a 1-bedroom home is $765 per month, for a 2-bedroom home, $1,001 per month, and a 3-bedroom home is $1,162 per month.
The average rent in New Castle is 47.9% ($872) lower than the national average of $1,819 per month.
The average rent in New Castle has increased by 15.1% ($124) in the last month and increased by 3.3% ($30) over the past year.
The rental market in New Castle, IN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In New Castle, IN, the average rental stays on the market for approximately 29 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 14 rental properties available in New Castle, IN.
Based on the current averages, a household would need an annual income of $40,040 to comfortably afford a 2-bedroom home in New Castle.
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