The story of this market
The typical home in ZIP 47362 sells for about $150,000, or $123 per square foot.
Prices are roughly flat from a year ago (-0.27%), a market in balance. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $786 a month.
ZIP 47362 — New Castle
The housing market in 47362 is characterized by stable, affordable pricing with a median sale price of $150,000. Demand remains steady for single-family homes, though the market is influenced by the local economic reliance on specific anchor employers and a slower pace of new development.
This ZIP is well-suited for budget-conscious family buyers and those seeking a stable, small-town residential environment with historic charm.
Median prices moved down 0.3% year over year.
Homes spend a median of 45 days on market with 3.4 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.2% · poverty 15.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 47362, Henry County, IN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by the New Castle Community School Corporation, which operates several elementary schools and a high school, generally reflecting a mid-sized district profile.
The local economy is anchored by the New Castle Correctional Facility and a mix of manufacturing and service-sector employers.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Indiana) — Ad Valorem Property Assessment: Property is assessed at 100% of true tax value, determined by market-based assessment systems and annual adjustments. State (Indiana) — Standard Homestead Deduction: Removes the first $45,000 of the homestead's assessed value from taxation. State (Indiana) — Indiana Property Tax Caps (Circuit Breaker): Limits annual property tax liability to 1% of gross assessed value for principal residences, 2% for other residential property, and 3% for non-residential property.
Residents typically rely on personal vehicles for commuting, with a mean travel time to work of approximately 20.8 minutes.
The area features local parks and historic sites, including the William Grose House and the New Castle Commercial Historic District.
The rental market is characterized by a mix of single-family homes and older housing stock, with moderate vacancy pressure.
The economy is supported by the New Castle Correctional Facility and regional manufacturing operations.
The area is primarily accessible by car, with regional connectivity provided by local highway networks.
Development is focused on maintaining existing residential stock and supporting local infrastructure.
The Henry County assessor manages property valuations for tax purposes.
Parcels are subject to local school district taxes and county-level assessments.
Standard residential property insurance is available, with premiums influenced by regional weather patterns.
Data retrieved from Census Reporter and ACS 2024 profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Listed on the National Register of Historic Places.
Features preserved architecture from the city's history.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.