Photo: Jeffrey Beall · CC BY 4.0Even on the area’s higher pay, New Castle costs more to live in than 67% of U.S. towns
It ranks #45 of 158 in Colorado for affordability. Up 3.3% in a year, 22% above the Colorado typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Rifle, CO micro area ($96K). How TownRatings grades cost of living
Only 2 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade measures what housing costs against what households in the area earn. New Castle’s area earns well above the typical U.S. town ($96K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 40% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 70% of renters.
In dollars
- $646Ktypical home, 22% above the Colorado typical homeZillow, September 2026
- $1,620a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 4.8 yrsof area income buys the typical home; the typical U.S. town: 3.3$96K, Rifle-area income
- 17%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 70%of renters pay 30%+ of income for housing; across Colorado: 53%Census 2020–24
- 40%of owners do; the typical U.S. town: 20%Census 2020–24
The short version on homes in New Castle
Values rose faster than Colorado’s over five years
The typical New Castle home is up 38% in five years, against 6.2% across Colorado. Since October 2016 it has about doubled, from $314K to $646K. Price trend ↓
About two in three renters are stretched
70% of renter households spend 30% or more of their income on rent, against 53% across Colorado. A standard two-bedroom would take 24% of the median household income. Renting ↓
Still rising while Colorado slips
Over the past year the typical New Castle home gained 3.3%, while the Colorado typical home lost 1.3%. Price trend ↓
Mostly newer homes
Half of New Castle’s homes were built after 2002, against 1988 for Colorado as a whole. Property taxes ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind New Castle’s grade
Measured against what households in the area earn, New Castle is more affordable than 33% of U.S. towns, #45 of 158 in Colorado. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Values have outpaced Colorado: the typical New Castle home is up 37.7% in five years, against 6.2% statewide (Zillow).
Up 37.7% in five years
Faster than Colorado (6.2%).
Show as a table
| January | New Castle | Colorado |
|---|---|---|
| 2017 | $321,000 | $336,000 |
| 2018 | $342,000 | $363,000 |
| 2019 | $364,000 | $386,000 |
| 2020 | $377,000 | $403,000 |
| 2021 | $412,000 | $440,000 |
| 2022 | $493,000 | $519,000 |
| 2023 | $545,000 | $544,000 |
| 2024 | $578,000 | $545,000 |
| 2025 | $611,000 | $551,000 |
| 2026 | $641,000 | $537,000 |
| September 2026 | $646,000 | $529,000 |
A typical New Castle home worth $314K in October 2016 is worth about $646K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A typical home costs 4.8 years of area income
The calculator starts from the area income the grade uses. Switch to New Castle’s own median, or type yours.
That’s $244K short of a typical New Castle home.
A two-bedroom rents for about $1,620 a month here, $1,980 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, New Castle’s typical property tax (0.39% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,620
Renters already here pay a median of $1,393, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Garfield County, CO): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
19 new homes permitted in 2025
Builders were permitted 19 new homes in New Castle in 2025, all single-family houses, worth about $6.3 million to build. That's 3.9 per 1,000 residents, slower than across Colorado (6.9). Over the past 10 years, New Castle has permitted 273 homes in all.
Between the 2010 and 2020 censuses, New Castle gained 405 residents while 218 new homes were permitted: about 1.9 new residents per new home, fewer than across Colorado (2.5): building outpaced growth.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 9 | 9 | 0 | $3.3 million |
| 2025 | 19 | 19 | 0 | $6.3 million |
| 2024 | 7 | 7 | 0 | $4.5 million |
| 2023 | 14 | 12 | 2 | $5.6 million |
| 2022 | 14 | 12 | 2 | $6.7 million |
| 2021 | 27 | 22 | 5 | $7.7 million |
| 2020 | 7 | 7 | 0 | $2.3 million |
| 2019 | 6 | 2 | 4 | $1.6 million |
| 2018 | 75 | 10 | 65 | $14 million |
| 2017 | 74 | 10 | 64 | $14 million |
| 2016 | 30 | 13 | 17 | $4.8 million |
| 2015 | 17 | 13 | 4 | $2.6 million |
| 2014 | 12 | 12 | 0 | $2 million |
| 2013 | 3 | 3 | 0 | $623,000 |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 1 | 1 | 0 | $156,000 |
| 2009 | 2 | 2 | 0 | $667,000 |
| 2008 | 146 | 79 | 67 | $27.4 million |
| 2007 | 82 | 42 | 40 | $9.6 million |
| 2006 | 98 | 46 | 52 | $11 million |
| 2005 | 89 | 89 | 0 | $12.1 million |
| 2004 | 73 | 73 | 0 | $9.9 million |
| 2003 | 46 | 46 | 0 | $5.9 million |
| 2002 | 89 | 89 | 0 | $9.8 million |
| 2001 | 84 | 84 | 0 | $10.7 million |
| 2000 | 97 | 61 | 36 | $9.3 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Colorado norm
The median bill is $1,776 (Colorado: $2,602), 0.39% of a home’s value a year, against 0.48% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
New Castle and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| New Castle | C | $646K | $454K | 0.39% | $1,620 |
Questions about the cost of living in New Castle
Is New Castle expensive to live in?
Measured against what households in the area earn, New Castle costs more than 67% of U.S. towns: a C for cost of living, #45 of 158 in Colorado. The typical home costs 4.8 years of the median household income of the Rifle, CO micro area ($96K).
How much does a house cost in New Castle?
About $646K, Zillow’s typical value for September 2026, up 3.3% in a year. The Colorado typical home is $529K.
What salary do you need to live in New Castle?
To buy the typical home with 20% down at 6.3%, about $154,000 a year, keeping the payment (about $3,600 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $65,000.
How much is rent in New Castle?
HUD puts a two-bedroom at about $1,620 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,393 (Census 2020–24).
What are property taxes in New Castle?
The median bill is $1,776 a year, 0.39% of the median home value (Colorado: $2,602, 0.48%), from the Census 2020–24.
Are home prices in New Castle going up?
Yes: up 3.3% in the past year and 37.7% in five years, against 6.2% across Colorado (Zillow).
Neighbors talk housing
What New Castle buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.