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Studio Apartment for Rent in New Castle, DE

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    Starting at $1,260 Per Month

    • Studio - 2 Beds

    595 Tulip Ln, New Castle, DE 19720

    William Penn Village Apartments, surround yourself in the most charming community in New Castle County. Our fabulous one and two bedroom apartments provide you with all the comforts and conveniences you deserve in your new home. Our impressive list of apartment features includes fully equipped eat-in kitchens, neutral decor, individually controlled heat/air and wonderful closet space. Relax and

    William Penn Village Apartment Homes

    595 Tulip Ln, New Castle, DE 19720

Why Live in New Castle

New Castle, Delaware, is a small city situated along the Delaware River, known for its historic downtown district and suburban residential subdivisions. The city features homes built in the 1950s and later, including midcentury Ranch-style houses, brick Cape Cods, and contemporary Colonial Revivals, many with driveways or attached garages. Higher budgets can secure stately mansions or well-preserved historical residences. The Colonial School District, including Carrie Downie Elementary and New Castle Elementary, is recognized for its innovative "Power of We" teaching approach. For things to do, residents enjoy outdoor activities at Rogers Manor Park, which offers a playground and athletic facilities, and New Castle Battery Park, where visitors can fish, picnic, or cycle along the river trail to Deemers Beach. The city's rich history is celebrated at Jessop's Tavern and during the annual Separation Day festivities. Wilmington, just six miles away, provides additional dining, shopping, and business opportunities. US Route 13 serves as a main thoroughfare, leading to supermarkets, big box stores, and local dining spots like the 24-hour Dove Diner, which features a fresh Art Deco style. The New Castle Farmers Market is a popular weekend destination, offering a variety of goods from fresh flowers to vintage watches.

Frequently Asked Questions

How much does it cost to rent a home in New Castle, DE?
The median rent for a home in New Castle, DE is $1,950 per month, though prices vary by neighborhood, size, and property type. As of August 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in New Castle, DE?
To comfortably afford the median rent in New Castle, DE, a household needs to earn roughly $78,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,950 per month in New Castle, DE, renters typically need to show $5,850 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in New Castle, DE?
In New Castle, DE, the price-to-rent ratio is 14.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,950
Median Single Family Home Rent
$1,950
Median Townhouse Rent
$1,700
Median Condo Rent
$1,800
How to Rent a Home