Living in New Albany, Indiana
Cost of living, income, home prices, rent and demographics of New Albany · Census data 2020–2024
New Albany has 37,581 residents with a median age of 38.2. The median household income is $54,710 (24% lower than the Indiana median), the median home value is $180,500, the median rent is $1,026/month.
New Albany at a glance
- Population
- 37,581
- Median age
- 38.2State: 38.1
- Median household income
- $54,710State: $71,957
- Median home value
- $180,500State: $218,200
- Median rent
- $1,026/moState: $1,062
- Homeowners
- 55.4%
- Bachelor's degree or higher
- 23.7%
- Average commute
- 20 min
Is New Albany a good place to live?
Pros: Home values 17% lower than the state median; an average commute of 20 minutes.
Cons: Median household income 24% lower than the Indiana median; unemployment of 6%; a poverty rate of 18.9%.
The weather is best in May and August to October.
Cost of living in New Albany
Housing is the biggest part of the cost of living. In New Albany the median home value is $180,500, 46% lower than the U.S. median. Renters pay a median of $1,026 per month, which is 29.2% of household income. Homeowners with a mortgage pay $1,229 a month in housing costs.
New Albany median household income
The median household income in New Albany is $54,710 and the income per person is $30,946. 18.9% of residents live below the poverty line (Indiana: 12.3%).
Housing in New Albany: homes for sale and rent
- Housing units
- 18,263
- Owner-occupied
- 55.4%
- Renter-occupied
- 44.6%
- Vacant
- 10.3%Includes seasonal homes
- Median year built
- 1965
- Average household size
- 2.22
New Albany demographics
- Population
- 37,581
- Median age
- 38.2
- Under 18
- 20.2%
- 65 and older
- 17.9%
- Households
- 16,389
- Foreign-born
- 3.3%
- Veterans
- 6%Adults 18+
Hispanic or Latino can be of any race. Population history of New Albany ›
Education in New Albany
23.7% of adults 25 and older in New Albany have a bachelor's degree or higher (Indiana: 29.5%), and 8.7% have a graduate or professional degree.
Jobs and commute in New Albany
- Unemployment rate
- 6%State: 4.3%
- Average commute
- 20 minState: 24 min
- Work from home
- 12%
- Drive alone
- 75.5%
- Public transit
- 0%
- Walk to work
- 1.4%
- Homes with broadband
- 85.9%
New Albany vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| New Albany | 37,581 | $54,710 | $180,500 | $1,026 |
| Clarksville | 22,016 | $60,467 | $179,700 | $1,110 |
| Floyds Knobs | 4,515 | $126,341 | $372,500 | $1,169 |
| Sellersburg | 10,137 | $72,179 | $231,500 | $1,151 |
| Galena | 1,549 | $127,738 | $281,200 | — |
| Jeffersonville | 51,043 | $70,930 | $216,800 | $1,148 |
| Georgetown | 3,800 | $113,265 | $302,300 | $980 |
| Shively | 15,638 | $50,221 | $154,700 | $899 |
| Mockingbird Valley | 138 | $250,001 | $1,178,600 | — |
More for people moving to New Albany
New Albany ZIP code ›Weather and climate ›Living in New Albany: FAQ
What is the median household income in New Albany, IN?
The median household income in New Albany is $54,710, 24% lower than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in New Albany?
The median home value in New Albany is $180,500, compared with $218,200 in Indiana.
How much is rent in New Albany?
The median gross rent in New Albany is $1,026 per month, about 29.2% of household income.
Is New Albany, IN a good place to live?
Pluses: home values 17% lower than the state median; an average commute of 20 minutes. Minuses: median household income 24% lower than the Indiana median; unemployment of 6%; a poverty rate of 18.9%.
What is the median age in New Albany?
The median age in New Albany is 38.2 years (Indiana: 38.1).
How long is the commute in New Albany?
The average commute to work in New Albany is 20 minutes; 12% of workers work from home.
What is the unemployment rate in New Albany?
The unemployment rate in New Albany is 6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is New Albany?
23.7% of adults in New Albany have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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