New Albany, IN 47150 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

New Albany, IN—47150

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$226,000

3.4% YoY Growth

Household Income

$62,200

19.5% YoY Growth

Days on Market

3.0% Longer YoY

Home Price Forecast

1.6%

Median Rent

$1,050

3.4% YoY Growth

1-Bed Rent

$850

4.7% YoY Growth

2-Bed Rent

$1,120

6.4% YoY Growth

3-Bed Rent

$1,400

3.3% YoY Growth

Home Price Trends — New Albany, IN

As of Dec '25, the median home price in New Albany, IN is $226,000, with a year-over-year change of 3.4%. This indicates that home prices in New Albany, IN are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$226,000	3.4%
Single Family	$226,000	3.2%
Condos	$219,000	-3.9%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — New Albany, IN

As of July '25, Rentcast reports the average rent in New Albany, IN is $1,140, with a year-over-year rent change of -3.4%. Per bedroom, the median rent as of July '25 in New Albany, IN is studios: $838, 1-bedrooms: $907, 2-bedrooms: $1,160, 3-bedrooms: $1,480, 4-bedrooms: $1,810. The most common rental property sizes in New Albany, IN are 2-bedroom and 1-bedroom, accounting for 53.0% and 24.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,050	$1,140
Studio Rent	$820	$838
1 Bed Rent	$850	$907
2 Bed Rent	$1,120	$1,160
3 Bed Rent	$1,400	$1,480
4 Bed Rent	$1,700	$1,810

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% of Rental Stock

Studio

2.9%

1 Bedroom

24.2%

2 Bedrooms

53.0%

3 Bedrooms

16.3%

4 Bedrooms

2.6%

5+ Bedrooms

1.0%

Property Listings — New Albany, IN

As of Dec '25, Realtor.com reports that the median days on market for a home in New Albany, IN is 42. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$250,000	3.0%
Listing Count	206	57.0%
Listings as % of Homes	0.3%	57.0%
Days on Market	53	3.0%

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Demographics — New Albany, IN

As of the latest ACS Survey released in 2023, New Albany, IN has a population of 49,600, which has increased by 3.7% over the past 5 years. New Albany, IN is a moderately popular place for families, as children make up 20.7% of the population. The area has a moderately educated workforce, with 26.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	49,600	3.7%
% Under 18	20.7%	-2.8%
% Seniors	18.2%	15.2%
% WFH	11.5%	259.4%
% w/ College Degree	26.5%	7.3%

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As of the latest ACS Survey released in 2023, New Albany, IN is a predominantly white area, with 81.8% of the population identifying as white. The white population has shrunk by 1.9% in the last 5 years. The second most common race or ethnicity in New Albany, IN is black, making up 7.6% of the population. Foreign-born residents account for 3.1% of the population in New Albany, IN, and this percentage has increased by 19.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	81.8%	-1.9%
% Black	7.6%	-8.4%
% Hispanic	4.6%	4.5%
% Asian	1.5%	36.4%
% Foreign Born	3.1%	19.2%

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Mortgage and Risk — New Albany, IN

According to HUD data as of 2023, there were 1099 mortgage originations in New Albany, IN, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in New Albany, IN. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	1,099
% Conventional Loans	78.0%
% Government Loans	22.0%
% Investor Loans	3.0%
% Second Loans	1.0%
% Cash Out Refinance	13.0%

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Rentals and Section 8 — New Albany, IN

As of 2024, the percent of homes in New Albany, IN under the Section 8 program is 14.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In New Albany, IN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

Section 8 Market Size

Total Units under HUD	1,676
Total Units Section 8	1,136
% Rentals under Section 8	14.8%
% Occupied Section 8	91.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$190	$850	$1,040
2 Bedroom	$150	$1,120	$1,270
3 Bedroom	$240	$1,400	$1,640
4 Bedroom	$200	$1,700	$1,900

New Albany, IN—47150

Key Metrics at a Glance

Home Price Trends — New Albany, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Albany, IN

% of Rental Stock

Property Listings — New Albany, IN

Demographics — New Albany, IN

Race and Ethnicity

Mortgage and Risk — New Albany, IN

Mortgages

Rentals and Section 8 — New Albany, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — New Albany, IN

Home Price to Income Ratio

New Albany, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Windy Hills, Louisville, KY

Lyndon Center, Louisville, KY

Clarksville, IN

West Louisville, Louisville, KY

Floyds Knobs, IN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$226,000
Median Household Income	$62,200

New Albany, IN—47150

Key Metrics at a Glance

Home Price Trends — New Albany, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Albany, IN

% of Rental Stock

Property Listings — New Albany, IN

Demographics — New Albany, IN

Race and Ethnicity

Mortgage and Risk — New Albany, IN

Mortgages

Rentals and Section 8 — New Albany, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — New Albany, IN

Home Price to Income Ratio

New Albany, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Windy Hills, Louisville, KY

Lyndon Center, Louisville, KY

Clarksville, IN

West Louisville, Louisville, KY

Floyds Knobs, IN

Frequently Asked Questions

What is the average home price in New Albany, IN 47150?

How have home prices in New Albany, IN 47150 changed over the past year?

What is the home price projection for New Albany, IN 47150?

What are the demographics of New Albany, IN 47150?

How long does it take homes to sell in New Albany, IN 47150?

What is the average rent price in New Albany, IN 47150?