New Albany, Indiana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the New Albany, Indiana rental market.
New Albany, Indiana
Average Apartment Rent
$1,121
Y-o-Y Change in Average
Apartment Rent
2.2%
As of May 2026
Compared to a year ago, New Albany, Indiana apartments have recorded a 2.2% rent increase.
New Albany, Indiana Average apartment rent trend
New Albany, Indiana Average Apartment Rent
New Albany, Indiana Apartment rent ranges
At 64.47%, apartments priced $1,000 - $1,500 represent the bulk of New Albany, Indiana rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 3.57%.
New Albany, Indiana Housing tenure**
Renters take up 43% of New Albany, Indiana real estate, occupying a total of 6,802 units, while homeowners live in 9,104 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$36,728
Average household size of renter-occupied housing units**
2.16
Rental vacancy rate**
9.4%
New Albany, Indiana Renter-occupied housing units by no. of bedrooms**
There are 3,517 rentals in New Albany, Indiana with 2 beds making up the highest share of the market, at 52%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 161 units. Overall, the median number of rooms in New Albany, Indiana homes for rent is 4.4.
New Albany, Indiana Renter-occupied units by age of householder**
Most condos for rent in New Albany, Indiana are occupied by residents in the 25 - 34 years age group (29%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
New Albany, Indiana Renter-occupied housing units by family type**
New Albany, Indiana Renter-occupied housing units by the presence of own children**
A total of 2,975 apartments for rent in New Albany, Indiana, or 44% of all rentals are family households. Additionally, 29% of rental homes include children under the age of 18 – that’s 1,942 units. All in all, the median size of a renter-occupied household in New Albany, Indiana is 2.16.
New Albany, Indiana Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 18% of the rental market. In contrast, residents with less than a high school degree reside in 13% of the homes for rent in New Albany, Indiana.
New Albany, Indiana Renter-occupied units by year structure built**
The highest share of New Albany, Indiana apartment rentals, namely 19% or 1,267 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (14%, 966 units), and the ones Built 1980 - 1989 (13%, 906 units).
New Albany, Indiana Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most New Albany, Indiana renters (40%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their New Albany, Indiana condos for rent is 2017.
New Albany, Indiana Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of New Albany, Indiana renters have 1 vehicle available per household, 25% of them have 2 vehicles available, and 16% have No vehicle available.
New Albany, Indiana Means of transportation to work of householders living in renter-occupied housing units**
New Albany, Indiana Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all New Albany, Indiana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
