Jamestown Village
1001 W Colonial Dr,
New Castle, IN 47362
1-3 Beds | $933 - $1,135
Rental Market Trends in New Castle, IN
What is the average rent in New Castle, IN?
$845/month
Average Rent
564 Sq Ft
Average Apartment Size
-0.6%
Decrease in the Last Year
As of July 2025, the average rent in New Castle, IN is $845 per month. This is 48% lower than the national average rent of $1,637/month, making renting in New Castle more affordable than most cities in the US. When you rent an apartment in New Castle, you can expect to pay about $574 per month for a studio, $845 for a one-bedroom apartment, and around $972 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $932 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in New Castle, IN?
In the past year, rent has decreased by 0.6%, which averages out to $4 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in New Castle, IN
Last Updated July 2025
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
33%
Below $700/month
50%
$700 - $1,000/month
17%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in New Castle?
Based on current rent prices, Blue River Valley Estates is the most affordable neighborhood in New Castle.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in New Castle?
Based on current rent prices, Blue River Valley Estates is the most expensive neighborhood in New Castle.
Neighborhood
Average Rent
Average Sq Ft
Which New Castle neighborhoods have the most rentals available?
The neighborhood in New Castle with the most apartments available is Blue River Valley Estates .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in New Castle, IN?
Because the average rent in New Castle is $845, you’ll want to make about $2,816 per month or $33,792 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does New Castle, IN compare to other nearby cities and neighborhoods?
Use the tool below to compare New Castle, IN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
-
One Bedroom
-
-
Two Bedroom
-
-
Three Bedroom
-
-
Apartment communities in New Castle we think you'll love
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.