New Albany, IN
Population 37,589 · Indiana
About New Albany, IN
New Albany is a mid-sized city located in Indiana with a population of 37,589 residents according to the latest US Census Bureau American Community Survey data. The median household income is $54,152 per year, which is 28% below the national median of $75,149. The median age of 38 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Albany features a median home value of $169,600, which is 31% below the national median of $244,900. This positions New Albany in a moderately priced market relative to the rest of the country. Median monthly rent is $971, 17% below the national average of $1,163/month. Of the 18,429 total housing units, 56% are owner-occupied (9,028 units) and 44% are renter-occupied (7,128 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in New Albany shows an unemployment rate of 5.3%, which is near the national rate of 3.7%. The poverty rate stands at 18.4%, above the national average of 12.4%. Workers in New Albany have an average one-way commute time of 20.1 minutes.
Education & Demographics
22.8% of New Albany residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.6% White, 1.4% Hispanic or Latino, 0.9% Black or African American, and 1.8% Asian residents, with 3.3% of the population being foreign-born.
How New Albany Ranks in Indiana
Cost of Living in New Albany, IN
Compared to national averages, New Albany has a median household income of $54,152 (28% below the national median of $75,149). Home values average $169,600, which is 31% below the national median. Monthly rent at $971 is 17% below the US average of $1,163. Within Indiana, New Albany's income is 22% below the state average of $69,330, and home values are 4% above the state median of $163,409.
Why Live in New Albany, IN?
New Albany offers affordable housing with a median home value of $169,600, below the US average of $244,900, and rent that’s lower than the national average at $971/month, and short commute times averaging just 20.1 minutes.
Potential considerations include median household income ($54,152) that falls below the national average. However, New Albany’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Albany has a population of 37,589 with a median age of 38 years. Compare New Albany with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near New Albany
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Portage | 37,951 | $72,833 | $210,800 | Compare |
| Merrillville | 36,343 | $64,791 | $194,000 | Compare |
| Plainfield | 35,783 | $85,074 | $263,900 | Compare |
| Richmond | 35,551 | $46,395 | $107,600 | Compare |
| Valparaiso | 34,377 | $67,664 | $250,500 | Compare |
| Goshen | 34,374 | $55,436 | $175,200 | Compare |
| Crown Point | 34,042 | $95,757 | $272,800 | Compare |
| Michigan City | 31,894 | $52,979 | $129,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Albany With Other Cities
Frequently Asked Questions about New Albany
What is the population of New Albany, IN?
The population of New Albany, IN is 37,589 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Indiana.
What is the median household income in New Albany?
The median household income in New Albany, IN is $54,152 per year, which is 28% below the national median of $75,149.
What is the median home value in New Albany?
The median home value in New Albany, IN is $169,600, which is 31% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Albany?
The median monthly rent in New Albany, IN is $971, which is 17% below the national average of $1,163/month.
What is the unemployment rate in New Albany?
The unemployment rate in New Albany, IN is 5.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Albany, IN a good place to live?
New Albany offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 37,589 and a median age of 38, the city appeals to a broad range of residents.
How educated is New Albany, IN?
22.8% of residents in New Albany aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Albany?
Key cost-of-living indicators for New Albany, IN: median home value is $169,600 (31% below national), median rent is $971/month, and median household income is $54,152. The home-value-to-income ratio is 3.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Albany?
The poverty rate in New Albany, IN is 18.4%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is New Albany, IN?
New Albany's population is 2.6% White, 1.4% Hispanic or Latino, 0.9% Black or African American, 1.8% Asian, and 8.3% two or more races. 3.3% of residents are foreign-born.