New Castle, IN Cost Of Living
Cost Of Living In New Castle, IN Summary
Cost of living in New Castle research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means New Castle is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in New Castle is 86, with 100 being the average.
The cost of living index in New Castle is 0.9x lower than the national average.
New Castle ranks as the #29 cheapest in Indiana out of 128.
New Castle ranks as the #639 cheapest out of 6,489 in the US.
The median home value in New Castle is $162,857.
The median income in New Castle is $48,977.
Table Of Contents
New Castle's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in New Castle, IN?
According to the most recent data on the cost of living, New Castle has an overall cost of living index of 86, which is 0.9x lower than the national index of 100.
Compared to Indiana, New Castle has a cost of living index that's 0.9x lower than Indiana's index of 92.
The standard of living in New Castle ranks as #29 most affordable out of the 128 places we measured in Indiana. By definition, that implies New Castle ranks as the #99 most expensive place in the Hoosier State.
For more reading on life in New Castle, check out:
In Indiana
In America
New Castle Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in New Castle. Here is how it fairs on each of the criteria:
The Services index in New Castle is 97.
The Groceries index in New Castle is 96.
The Health index in New Castle is 95.
The Housing index in New Castle is 52.
The Transportation index in New Castle is 97.
The Utilities index in New Castle is 114.
| Living Expense | New Castle | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 86 | 92 | 100 | |
| Services | 97 | 95 | 100 | |
| Groceries | 96 | 97 | 100 | |
| Health | 95 | 94 | 100 | |
| Housing | 52 | 73 | 100 | |
| Transportation | 97 | 94 | 100 | |
| Utilities | 114 | 107 | 100 | |
New Castle, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in New Castle is $162,857.
The Median Rent in New Castle is $797.
The Median Income in New Castle is $48,977.
The Home Value To Income in New Castle is 3.3x.
The Rent To Monthly Income in New Castle is 0.2x.
| Statistic | New Castle | Indiana | United States |
|---|---|---|---|
| Median Home Value | $162,857 | $251,301 | $303,400 |
| Median Rent | $797 | $1,020 | $1,348 |
| Median Income | $48,977 | $70,051 | $78,538 |
| Home Value To Income | 3.3x | 3.6x | 3.9x |
| Rent To Monthly Income | 0.2x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
New Castle, IN Costs By Category
Detailed New Castle Services Costs Vs. Indiana
| Item | New Castle | Indiana |
|---|---|---|
| Shampoo | $1.3 | $1.28 |
| Movie | $11.69 | $12.13 |
| Bowling | $11.24 | $18 |
| Haircut | $16.5 | $24.26 |
| Beauty Salon | $30.94 | $45.56 |
Detailed New Castle Groceries Costs Vs. Indiana
| Item | New Castle | Indiana |
|---|---|---|
| Ground Beef | $5.74 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.59 | $4.67 |
| Potatoes | $4.88 | $4.93 |
| Pizza | $12.18 | $12.09 |
| Beer | $9.64 | $10.41 |
| Toothpaste | $3.69 | $3.7 |
Detailed New Castle Health Costs Vs. Indiana
| Item | New Castle | Indiana |
|---|---|---|
| Optometrist | $138.77 | $125.68 |
| Doctor | $101.43 | $135.78 |
| Dentist | $122.83 | $113.29 |
Detailed New Castle Transportation Costs Vs. Indiana
| Item | New Castle | Indiana |
|---|---|---|
| Gasoline | $3.51 | $3.46 |
| Tire Balancing | $47.59 | $59.92 |
Detailed New Castle Utilities Costs Vs. Indiana
| Item | New Castle | Indiana |
|---|---|---|
| All Electricity | $236.28 | $193.99 |
| Phone | $189.86 | $192.25 |
New Castle SnackAbility
/10
Cost Of Living In Cities Around New Castle
The cost of living varies in the cities and towns around New Castle. Here's a quick look at the cost of living in the most populous nearby places:
Carmel, IN has a cost of living index of 119, 1.4x New Castle.
Noblesville, IN has a cost of living index of 104, 1.2x New Castle.
Westfield, IN has a cost of living index of 114, 1.3x New Castle.
| City | Population | Cost Of Living | Vs. New Castle |
|---|---|---|---|
| Carmel, IN | 100,501 | 119 | 1.4x |
| Noblesville, IN | 71,940 | 104 | 1.2x |
| Westfield, IN | 51,109 | 114 | 1.3x |
| Zionsville, IN | 31,442 | 127 | 1.5x |
| Oxford, OH | 22,069 | 95 | 1.1x |
| Greenville, OH | 12,748 | 83 | 1.0x |
| Middletown, KY | 9,622 | 105 | 1.2x |
| Union, KY | 7,494 | 121 | 1.4x |
| Union, OH | 6,930 | 93 | 1.1x |
