Located 50 miles east of Indianapolis along the Big Blue River, New Castle is a small city of around 17,000 with a rich history. The county seat of Henry County, it is surrounded by rural agricultural land. "It is the quintessential, small-town Midwest America," says Jon Kindred, Realtor with Broker at F.C. Tucker/Crossroads. "It's the kind of town where if you walk into The Press [Coffee Co], you'll see someone you know and talk for 20 minutes."
In the 1900s, New Castle was known as an automobile and piano manufacturing hub, and today, manufacturing and retail make up much of the city’s jobs. Some workers opt for the hour-long commute to Indianapolis. Today, it’s known for its basketball scene, home to the Indiana Basketball Hall of Fame and New Castle Fieldhouse, the largest high school gymnasium in the nation. It's also the birthplace of former NBA star Kent Benson and Indiana University legend Steve Alford.
The Press Coffey Co. is a local New Castle hot spot for coffee drinks and smoothies.
New Castle is known for its basketball scene, home to the Indiana Basketball Hall of Fame, and the birthplace of former NBA star Kent Benson and Indiana University legend Steve Alford.
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Shopping on Broad and Memorial
Downtown New Castle has been revamped in recent years but still holds onto its historic appeal. Centered around the intersection of Main Street and Broad, also known as State Route 38, historic streetscapes house locally owned storefronts and restaurants. Big box stores and chain restaurants line Memorial Drive, also known as State Route 3, mainly between Broad Street and Riley Road.
State Routes 38 and 3 serve as more than shopping districts; they're also the primary commute routes in New Castle.
New Castle has many of the big box stores one would find in a larger city.
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Commuting using State Routes 38 and 3
State Routes 38 and 3 serve as more than shopping districts; they're also the primary commute routes. While Route 38 runs east and west, Route 3 runs north and south and merges with Interstate 70 about 3 miles south. New Castle Henry County Municipal Airport is a small public-use airport. Commercial flights are available from Indianapolis, the largest international airport within a 70-mile radius. Henry Community Health sits on the northern border of New Castle and offers 24-hour medical care. It's also the most significant medical employer in the city.
Affordable, longstanding houses that are being revamped
Affordable, established homes attract buyers who want more space for a lower price. With a median home price of about $180,000, New Castle is far cheaper than Indianapolis, while homes are larger than those in Muncie. These lower-priced, larger homes also appeal to investors.
"Part of the reasons people look there is because when prices got high in Indy, [buyers] looked to what's close but still good for their budgets," says Alison Fernandez, Realtor at The Stewart Home Group. "I think you can get a lot of house there for less."
Fernandez notes that she recently sold a five-bedroom fixer-upper in New Castle to an investor. When repairs are done and the house hits the market, she estimates she will list it for mid-to-high $200,000. This is commonplace in New Castle, as many investors come in, revamp older housing stock and sell it at a price point that is still accessible. Houses generally sell after 33 days on the market, compared to the US average of 45 days.
Buyers can get a much larger home for the money in New Castle compared to surrounding cities.
There are newer neighborhoods in New Castle on the outskirts of town.
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New Castle Community School Corporation
New Castle Community School Corporation has a B-rating on Niche and ranks among the top 200 school districts in the state. It serves about 3,000 students across six elementary schools, one middle school and one high school. It's known for its junior and senior high school athletics teams, ranking as Indiana's 62nd-best school district for athletes. "The town, in general, is really focused on sports," Kindred says. "Sports are a big thing that really brings people together." Along with being home to the largest high school gymnasium in the nation, New Castle High School offers over 20 sports programs. Many of these are champion contenders, most recently with the boys' soccer team winning its third straight Sectional Championship in October 2024.
New Castle Fieldhouse is the largest high school gymnasium in the nation.
New Castle's Wilbur Wright Elementary School has 294 students in grades PK, K-6.
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Eight parks across the city
The New Castle Park system consists of eight parks, including Baker Park and Osbourne Park. Baker Park offers a variety of activities, including a skate park and disc golf course, while Osbourne Park is used primarily for trail walks and picnics. Running along the western edge of the city, the Big Blue River is home to canoeing and fishing.
Running along the western edge of the city, New Castle's Big Blue River is home to canoeing and fishing.
New Castle children love to visit the castle themed playground at Baker Park.
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Events in The Heart of New Castle
Annual events are mostly held downtown at The Heart of New Castle, a pavilion in the center of town that hosts the town Christmas Tree. Jack's Donuts has been a city stalwart since 1961, but it's been hosting a massive donut hole-eating contest for four years. Held every May, participants compete to set the world record and gain bragging rights. In 2024, the winner set a world record for 350 donut holes in 8 minutes.
Jack's Donuts has been a New Castle stalwart since 1961, but it's been hosting a massive donut hole-eating contest for four years.
Annual events are mostly held downtown at The Heart of New Castle, a pavilion in the center of town that hosts the town Christmas Tree.
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Decreasing crime rates and natural disaster risks
According to the New Castle Police Department's annual report released in 2022, petty theft counts have gradually decreased since 2017, while drug-related crimes have increased. Violent crime counts have also reduced slowly. Overall, violent and property crimes were slightly higher than the national averages in each category.
Indiana is prone to tornadoes, although occurrences in New Castle and the surrounding area are infrequent. According to the National Weather Service, there were only 23 tornadoes in Henry County between 1950 and 2023. The most recent tornado was an E-F1 in 2024.
Licensed Real Estate Broker with a demonstrated history in residential and agricultural real estate sales. Associate Broker/Realtor with Flesher Brothers Auctioneering & Real Estate in Albany Indiana. Gary is a member of the Mid-Eastern Indiana Association of Realtors as well as MIBOR Realtor Association (Indianapolis) and specializes in personal service, knowledgeable guidance and timely communication.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
