Cost of Living in New Albany, IN
Population: 37,589 • 2026 Data
$54,152
Median Household Income
-30% vs national
$971
Median Monthly Rent
-28% vs national
$169,600
Median Home Value
-50% vs national
5.3%
Unemployment Rate
Housing in New Albany
The median home value in New Albany, IN is $169,600. Monthly rent for a typical unit averages $971, while total monthly housing costs (including utilities and insurance) average $968.
Rent-to-income ratio: 21.5%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in New Albany, IN is $54,152. The unemployment rate stands at 5.3%, with a labor force of 18,924 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.