Can A Carpenter Afford Rent in New Albany, IN?
Comfortably affordable — rent takes 25.8% of gross income.
New Albany rent: June 2026. Salary: BLS OEWS May 2024 (Indiana state estimate).
About rent and a carpenter salary
Carpenter pay sits modestly above the US median household income and covers comfortable rent in most lower- and mid-cost metros. Union carpenters in high-cost cities often earn well above the BLS mean. At the national-average carpenter salary, the 30% rule supports about $1,524 a month in rent.
Cheaper rent nearby
These Indiana cities have lower median rent than New Albany, which improves the affordability math on a carpenter salary:
Compare with full rent data for New Albany
View full rent data for New Albany, IN →Frequently asked questions
Can a carpenter afford rent in New Albany, IN?
Median rent in New Albany is $1,204 a month. A typical carpenter in Indiana earns about $56,065 a year, which makes that rent 25.8% of gross monthly income. Under the 30% rule, the answer is yes.
How much rent can a carpenter afford in New Albany?
Using the 30% rule, a carpenter salary in Indiana (~$56,065/yr) supports up to $1,402 a month in rent. New Albany's current median rent is $1,204/mo, which leaves a $198/mo buffer.
How many hours does a carpenter work to cover rent in New Albany?
At an hourly equivalent of about $27 an hour, a carpenter in Indiana works roughly 44.7 hours a month to cover New Albany's median rent of $1,204.
Where is rent cheaper than New Albany for a carpenter?
Nearby Indiana cities with lower median rent include Noblesville ($1,203/mo), Shelbyville ($1,201/mo), Lafayette ($1,199/mo). Each shifts the affordability math materially on a carpenter salary.