Cost of Living in New Albany, IN
Population 37,589 · Indiana · Data vintage 2023
(100 = US avg)
The New Albany cost-of-living profile is closer to the US median than most headline-grabbing metros — typical homes around $170,000, rents near $971 a month.
New Albany sits roughly 14 miles northwest of Louisville/Jefferson County metro government (balance) — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 23% lower than Louisville/Jefferson County metro government (balance)'s $222,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in New Albany
The median home value in New Albany is $169,600 — 44% below the national median of $305,000. Median rent runs $971/month, 26% lower than the national median of $1,314/month. The median household income of $54,152/year is 27% lower than the US median of $74,580. The local unemployment rate is 5.3%, above the national average of 4.8%. Indiana's top state income tax rate is 3.0% and the combined sales tax is 7.0%. Overall, New Albany has a cost of living index of 63 versus the US average of 100, meaning it is 37% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in New Albany, IN?
New Albany has a cost index of 63 (100 = national average). It is 37% below the national average.
What is average rent in New Albany, IN?
The median gross rent in New Albany is $971 per month based on 2023 Census data.
What is the average home price in New Albany?
The median home value in New Albany is $169,600 according to Zillow and Census data.
What is the median income in New Albany?
The median household income in New Albany is $54,152 per year (2023 ACS 5-year estimates).
What is the sales tax in New Albany, IN?
The combined state and local sales tax rate in New Albany is 7.0%. The Indiana state income tax top rate is 3.0%.
Is New Albany, IN affordable?
Yes, New Albany is generally considered affordable, with a cost of living index of 63 — about 37% below the US national average of 100.
New Albany at a Glance
- Population
- 37,589
- Median Income
- $54,152
- Home Value
- $169,600
- Median Rent
- $971/mo
- Unemployment
- 5.3%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Indiana Rankings
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