New Castle cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexNew CastleIndianaNational
Cost of living index7488100
IndexNew CastleIndianaNational
Goods & Services index8595100
Groceries index9192100
Health care index8295100
Housing index4773100
Transportation index8993100
Utilities index7893100
The above illustration supplies generalized information for the New Castle, IN cost of living index. Compared to other cities in Indiana and cities across the country, the cost of living index in New Castle, IN is 74, which is 16% lower than the Indiana average and 26% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in New Castle, IN are 11% lower than the average for Indiana and 16% lower than the rest of the country.

Did you know?

  • The cost of living in New Castle is 16% lower than the Indiana average.
  • The cost of living in New Castle is 26% lower than the national average.
  • The cost of housing in New Castle is 53% lower than the national average.
  • Indiana general sales tax is 37% higher than the national average.
  • Indiana state income tax is 48% higher than the national average.

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Salary Calculator

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Groceries index
Health care index
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Use the salary calculator to compare your current income in New Castle, IN to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of New Castle, IN, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the New Castle, IN salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in New Castle, IN, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In New Castle, IN, the median monthly income is $41,837 for those who own their own homes. Under the standard rule, that income level would allow for $976 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $19,632, per the median income in the area. That would allow for renters to spend up to $458 on monthly rental expenses.

Indiana Sales Tax

StateGeneral Sales TaxWith Max Surtax

Indiana Income Tax

StateIncome Tax (Low)Income Tax (High)
The Indiana sales tax and Indiana income tax rates should definitely be considered when determining the overall cost of living in New Castle, IN. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Indiana sales tax is 7% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Indiana income tax rates range from 3.3% to 3.3%.

Goods & Services

ItemNew CastleNational avg.Difference
Haircut $12.00$14.5917.8%
Beauty Salon $22.00$34.6836.6%
Toothpaste $1.88$2.4724.0%
Shampoo $0.84$1.0217.8%
Movie $8.79$9.8710.9%
Bowling $3.50$4.3920.3%


ItemNew CastleNational avg.Difference
Ground Beef $4.14$4.487.5%
Fried Chicken $1.19$1.4618.7%
Milk $1.93$2.3618.1%
Potatoes $3.11$3.061.6%
Pizza $7.99$9.2413.6%
Beer $7.54$8.6312.7%

Health Care

ItemNew CastleNational avg.Difference
Optometrist $58.00$99.7841.9%
Doctor $71.50$105.0331.9%
Dentist $69.75$88.7021.4%
Ibuprofen $8.36$9.4111.2%
Lipitor $323.26$298.508.3%


ItemNew CastleNational avg.Difference
Home Price $67,800.00$175,700.0061.4%
Avg. Mortgage Payment $865.75$1,081.0319.9%
Apartment Rent $621.00$920.0032.5%


ItemNew CastleNational avg.Difference
Gasoline $1.94$2.097.3%
Tire Balancing $36.00$45.2920.5%


ItemNew CastleNational avg.Difference
All Electricity$149.16$170.8012.7%
Phone $18.44$28.2634.7%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Mount Auburn, IN11671-29%
Blountsville, IN10871-29%
Springport, IN17473-27%
Modoc, IN26173-27%
Milton, IN52173-27%
New Castle, IN17,85974-26%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Willimantic, CT17,84511111%
Burke Centre, VA17,84213737%
Creve Coeur, MO17,84112222%
Tiffin, OH17,83588-12%
Wallingford Center, CT17,82412424%
New Castle, IN17,85974-26%
Source: The New Castle, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.