New Albany, IN Rental Market Trends
Last updated: November 18, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in New Albany is $1,114, a 1.85% increase compared to the previous year, when the average rent was $1,094.
Studio Apartments at $944 offer the most budget-friendly option with 510 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 834 square feet for $980, balancing privacy and affordability.
Two-beedroom units at $1,144 offer 1,101 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,334 sq ft) for $1,374, suitable for larger households.
Average rent in New Albany, IN
Last updated: November 18, 2025
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,114 | 1,041 sq. ft. |
| Studio | $944 | 510 sq. ft. |
| 1 Bed | $980 | 834 sq. ft. |
| 2 Beds | $1,144 | 1,101 sq. ft. |
| 3 Beds | $1,374 | 1,334 sq. ft. |
New Albany, IN rent trends
Rental prices in New Albany, IN have increased by 1.85% over the past year. The average rent moved from $1,094 to $1,114.
What's the typical rent budget in New Albany, IN?
The largest share of rentals in New Albany, IN (57%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in New Albany, IN?
7,128 or 44% of the households in New Albany, IN are renter-occupied while 9,028 or 56% are owner-occupied.
How New Albany Compares to Other Cities
| City | Average Rent |
|---|---|
| New Albany | $1,114 |
| Indianapolis | $1,250 |
| Evansville | $1,024 |
| Bloomington | $1,595 |
| Fort Wayne | $1,126 |
| Lafayette | $1,168 |
| Jeffersonville | $1,223 |
| Hammond | $1,224 |
| South Bend | $1,343 |
| Greenwood | $1,372 |
| West Lafayette | $1,861 |
| Louisville, KY | $1,314 |
| Shively, KY | $845 |
| Jeffersontown, KY | $1,357 |
| Lyndon, KY | $1,300 |
| St. Matthews, KY | $1,307 |
| Fairdale, KY | $1,217 |
| Corydon, IN | $861 |
| Crestwood, KY | $1,225 |
| Middletown, KY | $1,573 |
| Prospect, KY | $2,030 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all New Albany apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.