New Albany, IN housing market
Typical home value
$237K
▲ 2.8% 1 yr
Typical rent
$1,194/mo
▲ 2.8% 1 yr
Gross rent yield
6.1%
U.S. 6.3%
5-year home value change
+28%
U.S. +20%
Key takeaways
- 1The typical home in New Albany is worth $236,651, up 2.8% over the past year and up 28% over five years.
- 2Typical rent is $1,194 a month (+2.8% YoY), a gross rent yield of 6.1%.
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,301/mo, $107 more than typical rent.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How New Albany compares
| Measure | New Albany | United States |
|---|---|---|
| Typical home value | $236,651 | $366,157 |
| Home value, 1-yr change | +2.8% | +1.2% |
| Typical rent | $1,194 | $1,932 |
| Rent, 1-yr change | +2.8% | +2.7% |
| Gross rent yield | 6.1% | 6.3% |
| Price-to-rent ratio | 16.5 | 15.8 |
| Mortgage P&I, typical home | $1,301 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical New Albany rental, pre-filled.
Rent vs buy in New Albany
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $237K home.
Other Indiana cities
Indianapolis, IN
$227K home$1,375 rent
▼ 0.9% 1 yr
Fort Wayne, IN
$245K home$1,257 rent
▲ 3.3% 1 yr
Evansville, IN
$204K home$1,058 rent
▲ 4.3% 1 yr
South Bend, IN
$198K home$1,269 rent
▲ 7.3% 1 yr
Bloomington, IN
$312K home$1,763 rent
▲ 1.2% 1 yr
Lafayette, IN
$265K home$1,282 rent
▲ 2.9% 1 yr
Elkhart, IN
$230K home$1,185 rent
▲ 6.1% 1 yr
Fishers, IN
$445K home$1,938 rent
▲ 1.7% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.