Cost of Living in New Albany, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
90.8
100 = national avg
-9.2 vs national average
Living Wage (1 Adult)
$39,948
per year
Living Wage (Family of 4)
$94,422
per year
Cost Index by Category
Housing96.1
Food91.4
Transportation82.0
Healthcare93.1
Utilities94.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,047
per month
2 Bedroom
$1,272
per month
The overall cost of living index in New Albany is 90.8, which is 9.2% below the national average. Housing costs are below the national average at an index of 96.1. A single adult needs to earn approximately $39,948 per year to cover basic expenses.