Apartments for Rent in New Albany, IN

Prices and availability in New Albany, IN were last updated on 26 Oct 2026.

The best apartments in New Albany, IN are: Knobs Pointe Apartments, The Commons Apartments, Huntley Ridge New Albany, HUB of New Albany Apartments and Lancaster Lofts.

The average rent in New Albany, IN is $1,088.

The price range for a studio apartment in New Albany, IN is between $75 and $1,137.

The price range for a 1-bedroom apartment in New Albany, IN is between $550 and $1,350.

The price range for a 2-bedroom apartment in New Albany, IN is between $75 and $1,473.

The price range for a 3-bedroom apartment in New Albany, IN is between $739 and $1,599.

In New Albany 45% of the housing is rented out compared to 55% of homes are owned, according to the most recent Census Bureau estimates. 13% of New Albany's apartments are found in large buildings of 50 units or more, 60% are located in smaller apartment complexes with less than 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.

Studio apartments in New Albany are around 2% of rentals, while 1-bedroom floor plans represent 25% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 65% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.