The Breakwater
411 E Spring St,
New Albany, IN 47150
$1,030 - $1,775
Studio - 2 Beds
Downtown New Albany
New Albany, IN
Downtown New Albany - New Albany, IN
Area Guide
Bask in historic charm and metropolitan flair on the Ohio River
Suburban
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Urban
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Historic
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Quaint
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Charming
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Walkable
•
Vibrant
•
Convenient
•
Growing
•
Welcoming
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Situated on the banks of the Ohio River in southern Indiana, Downtown New Albany is a national historic district teeming with buildings of various architectural stylings and new growth. Downtown New Albany maintains its small-town charm with friendly residents and a strong sense of community fostered by weekly festivals, live music, and special events.
Downtown New Albany boasts a wide variety of locally owned restaurants and boutiques located within walking distance of art galleries, museums, bars, and entertainment venues. Downtown New Albany is also just a short drive away from Louisville, Kentucky. Convenient access to I-64 and I-265 makes getting around from Downtown New Albany a breeze.
Rent Trends
As of February 2026, the average apartment rent in Downtown New Albany is $1,011 for a studio, $1,158 for one bedroom, and $1,400 for two bedrooms. Apartment rent in Downtown New Albany has decreased by -16.0% in the past year.
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Studio
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533 sq ft
Average Sq Ft
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$1,011/month
Average Rent
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1 BR
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780 sq ft
Average Sq Ft
-
$1,158/month
Average Rent
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2 BR
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1,127 sq ft
Average Sq Ft
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$1,400/month
Average Rent
Transportation
81
Very Walkable
out of 100 WalkScore® Rating
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
55
Bikeable
out of 100 BikeScore® Rating
While there’s some bike infrastructure in this area, you’ll still need a car for many errands.
Points of Interest
Shopping Centers
Parks and Recreation
- Portland Museum
- Falls of the Ohio State Park
- Kentucky Science Center
- Louisville Zoo
- Chickasaw Park
Military Bases
Airports
- Louisville Muhammad Ali International
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.