Newcastle, OK

Below Avg · 82

Oklahoma · Population 12,238 · Updated March 2026

$1,020
Median Rent / Month
$97,315
Median Income
$255,100
Median Home Value
$1,394
Owner Costs / Month

Affordability

How far your income goes in Newcastle

12.6%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Oklahoma

State-level tax rates that affect your costs

4.75%
Income Tax (Top Rate)
4.5%
Sales Tax
0.9%
Property Tax Rate

Estimated Annual Costs

$12,240
Annual Rent
$4,622
State Income Tax
$2,296
Property Tax (est.)

Cost of Living Overview

Newcastle is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 82 (where 100 equals the national median), Newcastle residents can expect to pay median rent of $1,020/month while earning a median household income of $97,315/year.

The median home value in Newcastle, OK is $255,100, with typical monthly owner costs around $1,394 including mortgage, insurance, and taxes. The median rent-to-income ratio of 12.6% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Oklahoma has a moderate income tax rate of 4.75%. Combined with a 4.5% sales tax rate and 0.9% effective property tax rate, the overall tax environment is a factor in the total cost of living in Newcastle.

Frequently Asked Questions

Common questions about living costs in Newcastle

What is the cost of living in Newcastle, OK?
The cost of living index in Newcastle, OK is 82 (US average = 100). Median monthly rent is $1,020, median household income is $97,315/year, and the median home value is $255,100.
Is Newcastle, OK affordable?
Yes, Newcastle is more affordable than the national average with a cost index of 82. The rent-to-income ratio is 12.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Newcastle, OK?
The median gross rent in Newcastle, OK is $1,020 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,240.
What is the median household income in Newcastle?
The median household income in Newcastle, OK is $97,315 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Oklahoma?
Oklahoma has a top income tax rate of 4.75%, a sales tax of 4.5%, and an effective property tax rate of 0.9%.