Commercial Real Estate Market in New Castle, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
61 active listings and 874 off-market properties in New Castle, IN. Commercial property asks $15/SF to buy and $9.41/SF/Yr to lease.
Market Trends
New Castle, IN spans 147.7 square miles in Henry County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in New Castle, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in New Castle, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in New Castle, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in New Castle, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
New Castle, IN has 30,184 residents in 12,523 households. Density runs 204 people per square mile. Median household income here is $56,564 and median gross rent $792 a month.
30,184
Population
12,523
Households
2.4
Avg Household Size
43
Median Age
15%
College-Educated
89%
High-School Grad
147.7 sq mi
ZIP Area
204
Density / Sq Mi
$56,564
Median Household Income
$38,568
Median Earnings
$792
Median Rent
$131,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Henry | — | — |
| Westwood | — | — |
| Messick | — | — |
| Mount Summit | — | — |
Commercial property in New Castle, IN asks $15/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in New Castle?
Commercial property in New Castle, IN asks an average of $15 per square foot.
How much does it cost to lease commercial space in New Castle?
Asking lease rates in New Castle, IN average $9.41 per square foot per year.
Where does Realmo's New Castle market data come from?
Realmo compiles New Castle, IN figures from 44 active sale listings, 17 active lease listings, 874 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 44 active for-sale and 17 active for-lease listings in New Castle, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
