New Albany renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.
Rental Price Key
Luxury
High-end
Mid-tier
Most affordable
On average, the cost of rent in New Albany is about $1,045 per month. This puts it in the 80th percentile compared to the state average cost of rent, which is $1,043. Households in New Albany have a median income of $4,906 per month so the average renter in New Albany is spending roughly 21% of their earnings on housing.
Nationally, and in New Albany, home values are the data point most closely correlated with the cost of rent. The median price of a home in New Albany is $188,873 right now, which is lower than cities nearby, meaning that rents in New Albany also tend to be lower versus these nearby cities.
Higher rent prices are common in the northeastern parts of New Albany while lower rent rates are often available in southeastern areas.
Nearby Cities
- Clarksville, IN: less expensive rent prices
- Floyds Knobs, IN: less expensive rent prices
- Jeffersonville, IN: less expensive rent prices
- Sellersburg, IN: more expensive rent prices
- Louisville, KY: more expensive rent prices
- Edwardsville, IN: less expensive rent prices
- Galena, IN: more expensive rent prices
- Mockingbird Valley, KY: more expensive rent prices
- Georgetown, IN: less expensive rent prices
- Rolling Fields, KY: more expensive rent prices
Cities with Similar Populations
- Coral Gables, FL: more expensive rent prices
- Zephyrhills, FL: more expensive rent prices
- Evans, GA: more expensive rent prices
- East Honolulu, HI: more expensive rent prices
- Chesterfield, MO: more expensive rent prices
- Wauwatosa, WI: more expensive rent prices
- Cocoa, FL: more expensive rent prices
- Spring Valley, NY: more expensive rent prices
- Draper, UT: more expensive rent prices
- Haltom City, TX: more expensive rent prices
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