Market Overview
Home Prices in New Albany, IN
The median home value in New Albany, IN is $241,568 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.1% compared to a year ago and up 3% from two years prior.
Compared to the U.S. national median of $410,000, homes in New Albany are priced41% below average. New Albany is part of the Louisville/Jefferson County, KY-IN metro area.
Over the past five years, New Albany home values have risen by approximately29.1%, reflecting strong long-term appreciation in this market.
Price History
New Albany Home Price Trend
City Comparison
New Albany vs. National Median
At $241,568, homes in New Albany cost 41% below the national median of $410,000. This makes New Albany a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in New Albany?
20% Down Payment
$48,314
on $241,568
Monthly P&I
$1,260/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,600/mo
incl. taxes & insurance
Income Needed
$64,000
gross annual (30% rule)
10% Down Option
$24,157
+ PMI applies
Loan Amount (20% dn)
$193,254
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in New Albany, IN?
The median home value in New Albany is $241,568 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.1% year-over-year.
How much have home prices changed in New Albany?
Over the past year, home values in New Albany have increased by 3.1%. Over five years, prices have risen approximately 29.1%.
How much do I need to earn to buy a home in New Albany?
To comfortably afford the median home price of $241,568 with a 20% down payment ($48,314) at today's rates (6.8%), you'd need a gross annual income of approximately $64,000. This assumes keeping total housing costs at or below 30% of gross income.
How does New Albany compare to the national average home price?
The national median home value is approximately $410,000. At $241,568, homes in New Albany are 41% below the national average.
What metro area is New Albany part of?
New Albany is part of the Louisville/Jefferson County, KY-IN metropolitan area. Home prices and market conditions can vary across the broader metro region.