Updated 2026 · Based on median market data for New Castle, PA
The median monthly rent in New Castle, PA is $1,140, translating to $13,680 in annual gross rental income per unit. The rent-to-price ratio is 0.74% — below the 1% rule but within a range where deals can work with good financing.
Renters in New Castle spend approximately 29% of the local median household income ($47,800) on rent. This is within the healthy 25-30% range, indicating rent is affordable relative to local incomes. There may be room for moderate rent increases, especially for updated or well-located units.
The vacancy rate in New Castle is 6%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.2% annually provides stable demand.
New Castle's GRM (price divided by annual rent) is 11.3x. A GRM under 12x is excellent — it means you're paying less than 12 years of gross rent for the property, suggesting strong income relative to price. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,140/mo, a single-family rental in New Castle generates approximately $13,680 in gross annual income. After accounting for 6% vacancy ($821 lost), property taxes of $2,139, insurance (~$620), and maintenance (~$620), the estimated NOI is $9,480 per year, or $790/mo.
New Castle vs Pennsylvania state average and national average across key investment metrics. New Castle outperforms both benchmarks on cap rate.