Apartments for Rent in New Albany, IN

Prices and availability in New Albany, IN were last updated on 10 Sep 2026.

The best apartments in New Albany, IN are: High Park Apartments, Villas at Green Valley, Lancaster Lofts, The Commons Apartments 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 $1,217.

The price range for a 1-bedroom apartment in New Albany, IN is between $595 and $1,519.

The price range for a 2-bedroom apartment in New Albany, IN is between $739 and $1,626.

The price range for a 3-bedroom apartment in New Albany, IN is between $830 and $1,626.

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 average age of rental buildings in New Albany is 32 years old, with 30% being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 3 stories, of which all are garden-style apartment communities, none are mid-sized buildings, and none are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.

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.