Welcome to the boards!
Two main things to check to fix this:
1. Is the new address marked as your home address? Make sure it is marked correctly. You can't delete a home address without first making a different address home.
2. Do you still have credit cards registered to that address on PayPal? If so, you'll want to edit the billing address for those cards (or remove them entirely) in the Credit Cards section in your Profile.
Hope this helps,
Adrian
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