Studio Apartment Rent in New Albany, IN
Median asking rent for a studio apartment in New Albany, Indiana as of July 2026. That's +20% lower than the citywide median of $1,204 and +26% below the national studio median of $1,290.
Income needed for a studio in New Albany
Using the standard 30% rent-to-income guideline (the threshold above which households are considered rent-burdened), here's what you need to earn to comfortably afford a studio at the current median rent.
Rent by apartment size in New Albany
Compare New Albany's median rent across every apartment size.
Cheapest cities for a studio in Indiana
| # | City | Studio rent |
|---|---|---|
| 1 | Frankfort | $517 |
| 2 | Crawfordsville | $644 |
| 3 | Marion | $650 |
| 4 | East Chicago | $670 |
| 5 | Michigan City | $700 |
| 6 | Richmond | $710 |
| 7 | Delphi | $720 |
| 8 | Angola | $730 |
| 9 | New Castle | $730 |
| 10 | Muncie | $735 |
| 11 | Mishawaka | $740 |
| 12 | Logansport | $770 |
| 13 | South Bend | $775 |
| 14 | Kokomo | $780 |
| 15 | Evansville | $792 |
Most expensive cities for a studio in Indiana
| # | City | Studio rent |
|---|---|---|
| 1 | Zionsville | $1,390 |
| 2 | Whitestown | $1,330 |
| 3 | Carmel | $1,327 |
| 4 | McCordsville | $1,210 |
| 5 | Lawrence | $1,205 |
| 6 | Avon | $1,190 |
| 7 | Westfield | $1,180 |
| 8 | Fishers | $1,170 |
| 9 | Brownsburg | $1,120 |
| 10 | Sellersburg | $1,100 |
| 11 | Granger | $1,070 |
| 12 | Noblesville | $1,050 |
| 13 | Columbus | $1,045 |
| 14 | Munster | $1,040 |
| 15 | Plainfield | $1,030 |
Nearby cities — studio rent
Considering nearby alternatives? 5 of these cities have cheaper studio rents than New Albany.
| City | Distance | Studio rent | vs New Albany |
|---|---|---|---|
| Clarksville, IN | 5.8 mi | $940 | $-20 (-2%) |
| Sellersburg, IN | 9.5 mi | $1,100 | +$140 (+15%) |
| Jeffersonville, IN | 11 mi | $1,020 | +$60 (+6%) |
| Louisville, KY | 11.8 mi | $1,061 | +$101 (+11%) |
| Prospect, KY | 18.3 mi | $1,510 | +$550 (+57%) |
| Charlestown, IN | 19.5 mi | $910 | $-50 (-5%) |
| Shepherdsville, KY | 24.6 mi | $930 | $-30 (-3%) |
| Radcliff, KY | 33 mi | $800 | $-160 (-17%) |
| Vine Grove, KY | 36.1 mi | $1,060 | +$100 (+10%) |
| Elizabethtown, KY | 40 mi | $910 | $-50 (-5%) |
| Bardstown, KY | 42.3 mi | $660 | $-300 (-31%) |
| Shelbyville, KY | 44.4 mi | $940 | $-20 (-2%) |
Studio rent in New Albany — common questions
How much is a studio apartment in New Albany?
As of July 2026, the median studio apartment rent in New Albany, Indiana is $960 per month. This is +20% below the citywide median of $1,204.
What income do you need to afford a studio in New Albany?
Using the standard 30% rent-to-income rule, you would need an annual income of about $38,400 ($3,200/month gross), which works out to roughly $18.46/hour at a full-time job.
Is New Albany expensive for a studio compared to the rest of the US?
New Albany's studio median of $960 is +26% below the national studio median of $1,290. It ranks in the 24th percentile of US cities tracked.
How does New Albany rank for studio rent in Indiana?
Among the 63 cities in Indiana with studio data, New Albany ranks #40 from cheapest to most expensive.
Are there cheaper studio options near New Albany?
Yes — nearby cities with cheaper studio rents include Clarksville ($940), Charlestown ($910), Shepherdsville ($930).