New Albany, IN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In New Albany, IN Summary

Cost of living in New Albany research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means New Albany is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in New Albany is 91, with 100 being the average.

  • The cost of living index in New Albany is 0.9x lower than the national average.

  • New Albany ranks as the #76 cheapest in Indiana out of 124.

  • New Albany ranks as the #1,804 cheapest out of 6,412 in the US.

  • The median home value in New Albany is $139,500.

  • The median income in New Albany is $49,429.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
91
New Albany's Overall Cost Of Living
0.9x
Lower Than The National Average

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 91, 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 91.

The standard of living in New Albany ranks as #76 most affordable out of the 124 places we measured in Indiana. By definition, that implies New Albany ranks as the #48 most expensive place in the Hoosier State.

For more reading on life in New Albany, check out:

76 out of 124
In Indiana
1,804 out of 6,412
In America

New Albany Cost Of Living Vs. Indiana

Six factors go into calculating the cost of living index in New Albany. Here is how it fairs on each of the criteria:

  • The Services index in New Albany is 105.

  • The Groceries index in New Albany is 94.

  • The Health index in New Albany is 96.

  • The Housing index in New Albany is 64.

  • The Transportation index in New Albany is 102.

  • The Utilities index in New Albany is 96.

Living Expense New Albany Indiana National Average
Overall 91 91 100
Services 105 94 100
Groceries 94 96 100
Health 96 101 100
Housing 64 77 100
Transportation 102 95 100
Utilities 96 106 100
For more reading on cost of living around Indiana, check out:
New Albany Cost of Living Vs. IN

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 2017-2021. The key points are:

  • The Median Home Value in New Albany is $139,500.

  • The Median Rent in New Albany is $852.

  • The Median Income in New Albany is $49,429.

  • The Home Value To Income in New Albany is 2.8x.

  • The Rent To Monthly Income in New Albany is 0.21x.

Statistic New Albany Indiana United States
Median Home Value $139,500 $158,500 $244,900
Median Rent $852 $891 $1,163
Median Income $49,429 $61,944 $69,021
Home Value To Income 2.8x 2.6x 3.5x
Rent To Monthly Income 0.21x 0.17x 0.2x
Search Homes For Sale In New Albany, IN
$139,500
Median Home Value
$852
Median Rent
$49,429
Median Income

New Albany, IN Costs By Category

Detailed New Albany Services Costs Vs. Indiana

Item New Albany Indiana
Shampoo $0.94 $1.06
Movie $12.1 $10.68
Bowling $18.55 $14.67
Haircut $15.0 $18.62
Beauty Salon $49.58 $39.05

Detailed New Albany Groceries Costs Vs. Indiana

Item New Albany Indiana
Ground Beef $3.91 $4.22
Fried Chicken $1.09 $1.39
Milk $1.15 $2.05
Potatoes $2.99 $3.29
Pizza $10.33 $10.62
Beer $8.99 $9.38
Toothpaste $2.56 $2.34

Detailed New Albany Health Costs Vs. Indiana

Item New Albany Indiana
Optometrist $71.56 $108.57
Doctor $133.98 $116.17
Dentist $82.89 $99.13

Detailed New Albany Transportation Costs Vs. Indiana

Item New Albany Indiana
Gasoline $2.28 $2.22
Tire Balancing $51.83 $50.07

Detailed New Albany Utilities Costs Vs. Indiana

Item New Albany Indiana
All Electricity $157.62 $167.67
Phone $180.81 $175.64

New Albany SnackAbility

6
/10
Overall SnackAbility
Jobs
6/10
Housing
6
Affordability
8
Diversity
8
Safety
4
Amenities
9
Education
6
Commute
8.5

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 92, 1.0x New Albany.

  • Georgetown, KY has a cost of living index of 92, 1.0x New Albany.

  • Jeffersontown, KY has a cost of living index of 98, 1.1x New Albany.

City Population Cost Of Living Vs. New Albany
Jeffersonville, IN 49,178 92 1.0x
Georgetown, KY 36,281 92 1.0x
Jeffersontown, KY 28,800 98 1.1x
Clarksville, IN 22,169 91 1.0x
St. Matthews, KY 17,588 100 1.1x
Shively, KY 15,638 86 0.9x
Lyndon, KY 11,033 99 1.1x
Sellersburg, IN 9,686 96 1.1x
Middletown, KY 9,473 103 1.1x
Louisville, MS 6,108 80 0.9x

Articles About Indiana

Enjoy The Snack?