Silver Creek Commons East & West
4737 Grant Line Rd,
New Albany, IN 47150
$1,195 - $1,335
2 Beds
Rental Market Trends in New Albany, IN
What is the average rent in New Albany, IN?
$957/month
Average Rent
795 Sq Ft
Average Apartment Size
-2%
Decrease in the Last Year
As of January 2026, the average rent in New Albany, IN is $957 per month. This is 41% lower than the national average rent of $1,624/month, making renting in New Albany more affordable than most cities in the US. When you rent an apartment in New Albany, you can expect to pay about $891 per month for a studio, $957 for a one-bedroom apartment, and around $1,112 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,386 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in New Albany, IN?
In the past year, rent has decreased by 2%, which averages out to $19 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2026
Legend
2025
2026
Rent Ranges in New Albany, IN
Last Updated January 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
5%
Below $700/month
40%
$700 - $1,000/month
55%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in New Albany?
Based on current rent prices, Downtown New Albany is the most affordable neighborhood in New Albany.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in New Albany?
Based on current rent prices, Downtown New Albany is the most expensive neighborhood in New Albany.
Neighborhood
Average Rent
Average Sq Ft
Which New Albany neighborhoods have the most rentals available?
The neighborhood in New Albany with the most apartments available is Downtown New Albany .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in New Albany, IN?
Because the average rent in New Albany is $957, you’ll want to make about $3,190 per month or $38,280 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does New Albany, IN compare to other nearby cities and neighborhoods?
Use the tool below to compare New Albany, IN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,031/month
$1,031/month
One Bedroom
$1,314/month
$1,314/month
Two Bedroom
$1,363/month
$1,363/month
Three Bedroom
-
-
Nearby City Rent Trends
Apartment communities in New Albany we think you'll love
Property Management Companies in New Albany, IN
Elon Property Management
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74
Communities
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10,811
Units
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42
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2 Communities in New Albany
Monarch Investment and Management Group
-
314
Communities
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76,967
Units
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142
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1 Community in New Albany
Flaherty & Collins, Inc
-
52
Communities
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12,833
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39
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1 Community in New Albany
Haley Communities
-
40
Communities
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8,319
Units
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33
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1 Community in New Albany
Gene B. Glick Company
-
37
Communities
-
9,216
Units
-
21
Cities
1 Community in New Albany
PMR Companies
-
46
Communities
-
7,303
Units
-
20
Cities
1 Community in New Albany
BRG Apartments
-
24
Communities
-
4,424
Units
-
20
Cities
1 Community in New Albany
J+G Companies
-
27
Communities
-
3,181
Units
-
16
Cities
1 Community in New Albany
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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 November 2025.
* Percentages may not total 100 due to rounding.