What is the cost of living in New Albany, IN?
According to the most recent data on the cost of living, New Albany has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Indiana, New Albany has a cost of living index that's 1.0x lower than Indiana's index of 90.
The standard of living in New Albany ranks as #69 most affordable out of the 129 places we measured in Indiana. By definition, that implies New Albany ranks as the #60 most expensive place in the Hoosier State.
For more reading on life in New Albany, check out:
New Albany Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in New Albany. Here is how it fares on each of the criteria:
The Services index in New Albany is 98.
The Groceries index in New Albany is 99.
The Health index in New Albany is 77.
The Housing index in New Albany is 97.
The Transportation index in New Albany is 96.
The Utilities index in New Albany is 99.
| Living Expense | New Albany | Indiana | National Average |
|---|---|---|---|
| Overall | 90 | 90 | 100 |
| Services | 98 | 97 | 100 |
| Groceries | 99 | 95 | 100 |
| Health | 77 | 72 | 100 |
| Housing | 97 | 98 | 100 |
| Transportation | 96 | 94 | 100 |
| Utilities | 99 | 96 | 100 |
New Albany Cost Of Living Compared To Indiana Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Indiana, check out:
Protect your home budget Compare home warranties in New Albany Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
New Albany, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in New Albany is $235,058.
The Median Rent in New Albany is $1,026.
The Median Income in New Albany is $54,710.
The Home Value To Income in New Albany is 4.3x.
The Rent To Monthly Income in New Albany is 0.23x.
| Statistic | New Albany | Indiana | United States |
|---|---|---|---|
| Median Home Value | $235,058 | $254,121 | $332,700 |
| Median Rent | $1,026 | $1,062 | $1,413 |
| Median Income | $54,710 | $71,957 | $80,734 |
| Home Value To Income | 4.3x | 3.5x | 4.1x |
| Rent To Monthly Income | 0.23x | 0.18x | 0.21x |
New Albany, IN Costs By Category
Detailed New Albany Services costs vs. Indiana
| Item | New Albany | Indiana |
|---|---|---|
| Shampoo | $1.36 | $1.28 |
| Movie | $11.48 | $12.13 |
| Bowling | $16.61 | $18 |
| Haircut | $26.42 | $24.26 |
| Beauty Salon | $47.57 | $45.56 |
Detailed New Albany Groceries costs vs. Indiana
| Item | New Albany | Indiana |
|---|---|---|
| Ground Beef | $5.88 | $5.84 |
| Fried Chicken | $1.74 | $1.57 |
| Milk | $4.78 | $4.67 |
| Potatoes | $5.01 | $4.93 |
| Pizza | $12.45 | $12.09 |
| Beer | $10.53 | $10.41 |
| Toothpaste | $3.55 | $3.7 |
Detailed New Albany Health costs vs. Indiana
| Item | New Albany | Indiana |
|---|---|---|
| Optometrist | $173.41 | $125.68 |
| Doctor | $108.22 | $135.78 |
| Dentist | $104.94 | $113.29 |
Detailed New Albany Transportation costs vs. Indiana
| Item | New Albany | Indiana |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $47.16 | $59.92 |
Detailed New Albany Utilities costs vs. Indiana
| Item | New Albany | Indiana |
|---|---|---|
| All Electricity | $206.98 | $193.99 |
| Phone | $190.02 | $192.25 |
New Albany SnackAbility
Cost Of Living In Cities Around New Albany
The cost of living varies in the cities and towns around New Albany. Here's a quick look at the cost of living in the most populous nearby places:
Jeffersonville, IN has a cost of living index of 95, 1.1x New Albany.
Georgetown, KY has a cost of living index of 97, 1.1x New Albany.
Jeffersontown, KY has a cost of living index of 101, 1.1x New Albany.
| City | Population | Cost Of Living | Vs. New Albany |
|---|---|---|---|
| Jeffersonville, IN | 51,043 | 95 | 1.1x |
| Georgetown, KY | 39,117 | 97 | 1.1x |
| Jeffersontown, KY | 29,199 | 101 | 1.1x |
| Clarksville, IN | 22,016 | 93 | 1.0x |
| St. Matthews, KY | 17,577 | 108 | 1.2x |
| Shively, KY | 15,638 | 87 | 1.0x |
| Lyndon, KY | 11,030 | 103 | 1.1x |
| Sellersburg, IN | 10,137 | 97 | 1.1x |
| Middletown, KY | 9,763 | 108 | 1.2x |
| Crestwood, KY | 6,356 | 107 | 1.2x |
