New Albany, IN is an ideal area to invest in real estate. The median housing value in New Albany is currently $195,900, which is significantly lower than the US median house value of $338,100. Over the past year, the US saw a house appreciation of 8.27%, while New Albany experienced a much higher appreciation of 13.41%. This indicates that investing in real estate in this area could bring a good return on investment over time. Housing prices are likely to continue to increase as more people move into New Albany looking for affordable housing options close to major cities like Louisville.
The median home cost in New Albany is $195,900. Home appreciation the last 10 years has been 81.4%. Home Appreciation in New Albany is up 15.2%.
Average Age of Homes
- The median age of New Albany real estate is 55 years old
The Rental Market in New Albany
- Renters make up 38.8% of the New Albany population
- 4.6% of houses and apartments in New Albany, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.