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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
53
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
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

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 TypeMedian Home ValueYoY % Change
All Homes
$226,0003.4%
Single Family $226,0003.2%
Condos $219,000-3.9%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $115,000
    1.8%
    2 Bed
    		$164,0004.5%
    3 Bed
    		$235,0003.1%
    4 Bed
    		$318,0002.9%
    5 Bed $388,9771.8%
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    % of Housing Stock

    Studio
    1.0%
    1 Bedroom
    12.3%
    2 Bedrooms
    32.1%
    3 Bedrooms
    37.8%
    4 Bedrooms
    14.2%
    5+ Bedrooms
    2.6%

    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.

    TypeMedian RentAverage 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$250,0003.0%
    Listing Count
    		20657.0%
    Listings as % of Homes0.3%57.0%
    Days on Market
    		533.0%
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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.

    MetricLatest CensusYoY % Change
    Population
    		49,6003.7%
    % 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

    MetricLatest Census5-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

    MetricZip 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 SizeHUD PremiumMarket RentMax 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

    Affordability — New Albany, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.2
    Median Home Price$226,000
    Median Household Income$62,200

    New Albany, IN — ZIP Code Boundary Map

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    Frequently Asked Questions