Housing costs in New Albany?
A typical home costs
$195,900, which is 42.1% less expensive than the national average of
$338,100 and 11.6% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in New Albany costs
$1,030 per month, which is 28.0% cheaper than the national average of
$1,430 and 4.9% more than the state average of
$980.
Can I afford New Albany?
To live comfortably in New Albany, Indiana, a minimum annual income of
$37,440 for a family, and
$34,400 for a single person is recommended.
What does A.I. say about New Albany?
New Albany, IN offers a favorable cost of living. The median home price in the city is lower than the national average, with most two-bedroom apartments costing between $600 and $1000 per month. The overall cost of living index for New Albany is also lower than the national average. Moreover, residents have access to affordable groceries, healthcare services, and transportation. Additionally, there are no state income taxes in Indiana which helps keep expenses low for residents. All of these factors make New Albany an attractive and affordable place to live in comparison to other cities.