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Affordable Housing In New Castle
Henry County, Indiana

10 Low Income Apartment Communities In New Castle

Willow Glen Apartments

2800 S Main St
New Castle, Indiana
Income Based
1 BR
Subsidized
62+

Stonegate Village Apartments

3302 Stonegate Dr
New Castle, Indiana
Subsidized

Faith Community

2238 Q Ave
New Castle, Indiana
Subsidized
62+
Accessible
Elderly Supportive Housing

Bethany Village Apartments New Castle

1509 Washington St
New Castle, Indiana
Subsidized
62+
Accessible
Elderly Supportive Housing

Grand Avenue Commons

1628 A Ave
New Castle, Indiana
Accepts Vouchers

Maplewood Terrace

274 S 14th St
New Castle, Indiana

Rose Court Apartments

720 S 14th St
New Castle, Indiana
Accepts Vouchers

Autumn Oaks Apartments

100 Autumn Oaks Blvd
New Castle, Indiana
Accepts Vouchers

New Castle Elderly Housing

100 Woodside Manor Ct
New Castle, Indiana

Fosters Landing Apartments

317 Fosters Way
New Castle, Indiana
Accepts Vouchers
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Housing Authorities that serve New Castle

Housing Authority Programs
New Castle Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in New Castle, Indiana

There are 10 low income housing apartment communities offering 652 affordable apartments for rent in New Castle, Indiana.

Income Based Apartments in New Castle, Indiana

New Castle features 384 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in New Castle, Indiana

There are 268 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Castle.

Housing Choice Vouchers in New Castle, Indiana

On average, Section 8 Housing Choice vouchers pay New Castle landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in New Castle.

The maximum amount a voucher would pay on behalf of a low-income tenant in New Castle, Indiana for a two-bedroom apartment is between $645 and $789.

2020 New Castle, Indiana Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $502 $580 $717 $958 $1,009
Payment Standard Range $452 to $552 $522 to $638 $645 to $789 $862 to $1,054 $908 to $1,110

Sourced from federal housing data and AffordableHousingOnline.com research.

New Castle, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 10
Total Low Income Apartments 652
Total Housing Units with Rental Assistance 384
Percentage of Housing Units Occupied By Renters 41.46%
Average Renter Household Size 2.21
Average Household Size 2.35
Median Household Income $32,840 ±$2,266
Median Rent $602 ±$24
Percentage Of Renters Overburdened 48.09% ± 6.17pp
Total Population 17,755

Population and Household Demographics

New Castle is a city in Henry County, Indiana with a population of 17,755. There are 7,369 households in the city with an average household size of 2.35 persons. 41.46% of households in New Castle are renters.

Income and Rent Overburden in New Castle

The median gross income for households in New Castle is $32,840 a year, or $2,737 a month. The median rent for the city is $602 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In New Castle, a household making less than $2,007 a month would be considered overburdened when renting an apartment at or above the median rent. 48.09% of households who rent are overburdened in New Castle.

Area Median Income In New Castle

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For New Castle, the AMI is calculated from all households within Henry County.

In New Castle, HUD calculates the Area Median Income for a family of four as $60,600

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in New Castle

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in New Castle

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,750 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $43,100
50% of Median $22,900 $26,150 $29,400 $32,650 $35,300 $37,900 $40,500 $43,100
80% of Median $36,600 $41,800 $47,050 $52,250 $56,450 $60,650 $64,800 $69,000