Cost of Living in New Albany, IN
Population 37,581 · Census ACS 2020–2024 5-year estimates
The median rent in New Albany, IN is $1,026/month, 3% lower than the Indiana median and 27% lower than the U.S. median. The median home value is $180,500, 46% lower than the national median. Households earn a median of $54,710 a year, 24% lower than the state median.
Affordability
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New Albany vs. Indiana vs. U.S.
| New Albany | Indiana | U.S. | |
|---|---|---|---|
| Median rent | $1,026 | $1,062 | $1,413 |
| Median home value | $180,500 | $218,200 | $332,700 |
| Median household income | $54,710 | $71,957 | $80,734 |
| Homeownership rate | 55.4% | 70.6% | 65.2% |
| Bachelor's degree or higher | 23.7% | 29.5% | 35.7% |
| Poverty rate | 18.9% | 12.3% | 12.5% |
| Unemployment rate | 6.0% | 4.3% | 5.2% |
| Work from home | 12.0% | 10.7% | 15.1% |
| Median age | 38.2 | 38.1 | 38.9 |
FAQ
What is the average rent in New Albany, IN?
The median gross rent in New Albany, IN is $1,026 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in New Albany, IN?
Using the common 30% rule, renting a median-priced home takes about $41,040 a year in gross income.
Is New Albany, IN expensive to live in?
Rent there is 27% lower than the U.S. median, and the median home costs about 3.3 times the median household income.
Other cities in Indiana
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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