Prices and availability in New Albany, IN were last updated on 24 Aug 2026.
The best apartments in New Albany, IN are: High Park Apartments, The Commons Apartments, Villas at Green Valley, Lancaster Lofts and Monon Crossing.
The average rent in New Albany, IN is $1,088.
The price range for a studio apartment in New Albany, IN is between $595 and $1,216.
The price range for a 1-bedroom apartment in New Albany, IN is between $595 and $1,612.
The price range for a 2-bedroom apartment in New Albany, IN is between $781 and $1,519.
The price range for a 3-bedroom apartment in New Albany, IN is between $830 and $1,612.
In New Albany, 45% of the residents are renting compared to 55% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 13% of New Albany's rentals, 60% are small-scale complexes with under 50 units, and 26% are single-family rentals.
The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in New Albany are about 32 years old, on average. Of these, 30% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About all of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.
Rental apartments in New Albany come in a range of sizes and floorplans. Studio apartments represent 2% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 25% of the total apartments in the city, while 2-bedroom floorplans represent around 65% of all rentals in New Albany. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.
