• Renter Tools
    • Favorites
    • Saved Searches
  • Manage Rentals
  • Apartments For Rent
    • Clarksville Apartments For Rent
    • Elizabethtown Apartments For Rent
    • Glendale Apartments For Rent
    • Jeffersontown Apartments For Rent
    • Jeffersonville Apartments For Rent
    • Louisville Apartments For Rent
    • Lyndon Apartments For Rent
    • Middletown Apartments For Rent
    • New Albany Apartments For Rent
    • Okolona Apartments For Rent
  • Houses For Rent
    • Elizabethtown Houses For Rent
    • Fairdale Houses For Rent
    • Fern Creek Houses For Rent
    • Flaherty Houses For Rent
    • Glendale Houses For Rent
    • Jeffersontown Houses For Rent
    • Louisville Houses For Rent
    • New Albany Houses For Rent
    • Okolona Houses For Rent
    • Radcliff Houses For Rent
  • Condos For Rent
    • Country Squire Lakes Condos For Rent
    • Fairdale Condos For Rent
    • Fern Creek Condos For Rent
    • Flaherty Condos For Rent
    • Fort Knox Condos For Rent
    • Jeffersontown Condos For Rent
    • Jeffersonville Condos For Rent
    • Louisville Condos For Rent
    • Lyndon Condos For Rent
    • North Vernon Condos For Rent
  • Townhomes For Rent
    • Elizabethtown Townhomes For Rent
    • Fairdale Townhomes For Rent
    • Flaherty Townhomes For Rent
    • Glendale Townhomes For Rent
    • Hillview Townhomes For Rent
    • Jeffersonville Townhomes For Rent
    • Louisville Townhomes For Rent
    • New Albany Townhomes For Rent
    • Okolona Townhomes For Rent
    • Pioneer Village Townhomes For Rent
  • Help Center
  • Area Guide
  • Rent Calculator
  • Property Management Companies

Language

Apartments.com Logo
Manage Rentals      Sign Up / Sign In
Add a Property

Rental Market Trends in New Albany, IN

What is the average rent in New Albany, IN?

$948/month

Average Rent

797 Sq Ft

Average Apartment Size

+2%

Increase in the Last Year

As of October 2025, the average rent in New Albany, IN is $948 per month. This is 42% lower than the national average rent of $1,630/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 $826 per month for a studio, $948 for a one-bedroom apartment, and around $1,127 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,388 or more.

Floor Plan Type
Average Rent
Average Sq Ft
Studio
$826/month
525 Sq Ft
One Bedroom
$948/month
797 Sq Ft
Two Bedroom
$1,127/month
1,087 Sq Ft
Three Bedroom
$1,388/month
1,283 Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Two Bedroom
$1,148/month
861 Sq Ft
Three Bedroom
$1,434/month
1,005 Sq Ft
Four Bedroom
$1,788/month
1,831 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 increased by 2%, which averages out to $19 more per month.

Market Trends Over Time   The chart below compares average rent prices to the previous year during the same time period.
Last Updated October 2025
Legend
2024 2025
Market Trends Over Time
Rent Ranges in New Albany, IN
Last Updated October 2025
$1,001 - $1,500
Most rental prices fall within this range
Rent Ranges in New Albany, IN
Percentage*
Rent Range
7% Below $700/month
34% $700 - $1,000/month
54% $1,001 - $1,500/month
5% $1,501 - $2,000/month
0% Above $2,000/month

Rent by Neighborhood

Last Updated Today
  • Most Affordable
  • Most Expensive
  • Most Available

What are the most affordable neighborhoods in New Albany?

Based on current rent prices, Oakwood, Beacon Heights and Downtown New Albany are the most affordable neighborhoods in New Albany.

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Oakwood
$976/month
770 Sq Ft
Beacon Heights
$976/month
770 Sq Ft
Downtown New Albany
$1,324/month
802 Sq Ft

What are the most expensive neighborhoods in New Albany?

Based on current rent prices, Downtown New Albany, Oakwood and Beacon Heights are the most expensive neighborhoods in New Albany.

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Downtown New Albany
$1,324/month
802 Sq Ft
Oakwood
$976/month
770 Sq Ft
Beacon Heights
$976/month
770 Sq Ft

Which New Albany neighborhoods have the most rentals available?

The neighborhoods in New Albany with the most apartments available are Oakwood, Beacon Heights and Downtown New Albany .

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Oakwood
$976/month
770 Sq Ft
Beacon Heights
$976/month
770 Sq Ft
Downtown New Albany
$1,324/month
802 Sq Ft
This information is based on data collected by CoStar Group researchers.†

What salary do I need to live comfortably in New Albany, IN?

Because the average rent in New Albany is $948, you’ll want to make about $3,160 per month or $37,920 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.

City

New Albany, IN

279 Available Apartments for Rent

Search for Nearby Apartments

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.

Explore the Area Guide for New Albany, IN

Apartment Averages

Oakwood

New Albany, IN

Downtown New Albany

New Albany, IN

Studio
-
$1,018/month
One Bedroom
-
$1,237/month
Two Bedroom
-
$1,658/month
Three Bedroom
-
-
Search
Search

Nearby City Rent Trends

  • Clarksville Average Rent
  • Jeffersonville Average Rent

Apartment communities in New Albany we think you'll love

Stonecrest Apartments

Stonecrest Apartments

4737 Grant Line Rd,
New Albany, IN 47150

$1,200 - $1,325

2 Beds

The Bend

The Bend

1909 Greentree Blvd,
Clarksville, IN 47129

$1,175 - $1,345

1-3 Beds

Lochwood Apartments

Lochwood Apartments

1429 Slate Run Rd,
New Albany, IN 47150

$1,055 - $1,465

1-2 Beds

The Villas At Green Valley

The Villas At Green Valley

2406 Green Valley Rd,
New Albany, IN 47150

$1,100 - $1,575

1-3 Beds

Property Management Companies in New Albany, IN

Elon Property Management
Elon Property Management
  • 69

    Communities

  • 10,026

    Units

  • 38

    Cities

2 Communities in New Albany
Monarch Investment and Management Group
Monarch Investment and Management Group
  • 311

    Communities

  • 75,994

    Units

  • 143

    Cities

1 Community in New Albany
Elmington Capital
Elmington Capital
  • 143

    Communities

  • 23,346

    Units

  • 73

    Cities

1 Community in New Albany
Flaherty & Collins, Inc
Flaherty & Collins, Inc
  • 50

    Communities

  • 12,149

    Units

  • 40

    Cities

1 Community in New Albany
Haley Communities
Haley Communities
  • 39

    Communities

  • 8,127

    Units

  • 32

    Cities

1 Community in New Albany
Gene B. Glick Company
Gene B. Glick Company
  • 36

    Communities

  • 8,935

    Units

  • 21

    Cities

1 Community in New Albany
PMR Companies
PMR Companies
  • 45

    Communities

  • 7,102

    Units

  • 20

    Cities

1 Community in New Albany
BRG Apartments
BRG Apartments
  • 20

    Communities

  • 3,962

    Units

  • 19

    Cities

1 Community in New Albany

Learn More with Helpful Articles

Everything You Need To Know About Self-Guided Apartment Tours

Explore great finds on your own time.

Tips for Finding an Apartment in a New City

Concrete jungle or small-town suburb? Your new home awaits.

The Benefits of Renters Insurance

Better safe than sorry! Protect yourself(and your stuff) with renters insurance.

Non-Monetary Factors to Consider When Renting or Buying a Home

Money isn't the only matter.

Explore the Renterverse

Rental management, simplified

Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com

Start managing your rentals
United States Indiana New Albany Rental Trends

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 September 2025.

* Percentages may not total 100 due to rounding.

  • About Us
  • Advertise
  • Legal Notices
  • Privacy Notice
  • Avoid Scams
  • Accessibility
  • Blog
  • Sitemap
apartments.com
© 2025 CoStar Group, Inc. Equal Housing Opportunity

Equal Housing Opportunity

© 2025 CoStar Group, Inc.

Equal Housing Opportunity