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New Albany, IN Condos for Rent

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  • /5

    $795

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 595 Sq Ft
    • Condo for Rent

    1808 Bono Rd Unit Gas Light Square, New Albany, IN 47150

    1808 Bono Rd Unit Gas Light Square, New Albany, IN 47150
  • /10

    $950

    Total Monthly Price

    • 2 Beds
    • 1 Bath
    • 1,000 Sq Ft
    • Condo for Rent

    731 1/2 Lincoln St Unit apartment over shop, New Albany, IN 47150

    Freshly remodeled apartment 2 bedroom. new Windows , roof , appliances, floors bathroom just remodeled. Ready . Over a shop. Max occupancy is 3 persons.

    731 1/2 Lincoln St Unit apartment over shop, New Albany, IN 47150

Frequently Asked Questions

How much does it cost to rent a condo in New Albany, IN?
The median rent for a condo in New Albany, IN is $950 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in New Albany, IN?
To comfortably afford the median rent in New Albany, IN, a household needs to earn roughly $42,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,072 per month in New Albany, IN, renters typically need to show $3,216 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in New Albany, IN?
In New Albany, IN, the price-to-rent ratio is 19.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in New Albany, IN are best for renting a condo?
The best neighborhood for renting in New Albany, IN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Portland, Shawnee, Russell, Chickasaw and Park Hill, each with its own character and price range.

Condo Rental Trends in New Albany, IN

Rental Home Trends

Number of Condos for Rent
2
Median Condo Rent
$950
Median 1 Bedroom Condo Rent
$825
Median 2 Bedroom Condo Rent
$1,095
Median 3 Bedroom Condo Rent
$1,245
How to Rent a Home