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Studio Apartments for Rent in New Albany, IN

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  • /50

    Starting at $1,045 Per Month

    • Studio - 2 Beds

    411 E Spring St, New Albany, IN 47150

    Featuring 197 luxury studios, one and two-bedroom apartments, 1,650 square feet of retail space, and high-end amenities, The Breakwater is the first mixed-use, a luxury apartment community in downtown New Albany. Located on East Spring Street at the site of the former Coyle Chevrolet property, The Breakwater residents enjoy Upscale, Resort-Style Amenities, including a Heated-Salt Water Luxury

    The Breakwater

    (812) 940-3882

    411 E Spring St, New Albany, IN 47150
  • /35

    Starting at $719 Per Month

    • Studio - 2 Beds

    1810 Graybrook Ln, New Albany, IN 47150

    Brookview Glen Apartments located in New Albany, Indiana has studio, one- and two-bedroom apartments for rent. Brookview Glen Apartments is designed to accommodate the needs of active adults 55 and older. Our homes feature air conditioning, carpet, fully equipped kitchens, washer and dryer connections, and ceiling fans. Our pet-friendly community features a community room, salon, library, and

    Brookview Glen

    (463) 777-2503

    1810 Graybrook Ln, New Albany, IN 47150

Why Live in New Albany

New Albany, Indiana, is a historic community established in 1813 along the Ohio River, just minutes from Louisville, Kentucky. The city features a vibrant downtown with boutique shops, diverse dining options, and a growing artistic scene. Residents enjoy trendy spots like Agave & Rye for mix-and-match tacos and The Exchange Pub & Kitchen for farm-to-table dining. The High Dive offers a speakeasy-style bar experience, while Seeds and Greens Natural Market and Deli provides health-conscious grocery options. Housing in New Albany ranges from suburban-style cottages to vintage Craftsman homes and large Victorian estates, with affordable prices attracting many families. The city is home to top-rated New Albany Floyd County Schools, serving over 11,000 students. Indiana University Southeast and Purdue Polytechnic New Albany offer higher education opportunities. New Albany celebrates its history with attractions like the Second Baptist Church, a key site on the Underground Railroad, and hosts events like the Harvest Homecoming festival. The city boasts 17 parks, including Riverfront Park and Loop Island Wetlands, providing ample things to do outdoors. Despite colder winters and the need for flood insurance in some areas, New Albany maintains a flood wall for protection. The city is safer than the national average for violent crimes, with ongoing efforts to reduce crime further. Convenient transportation options include Interstates 64 and 265, TARC bus routes, and proximity to Louisville International Airport, making commuting easy.

Frequently Asked Questions

How much does it cost to rent a home in New Albany, IN?
The median rent for a home in New Albany, IN is $1,050 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 $42,000 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 $1,050 per month in New Albany, IN, renters typically need to show $3,150 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 19.4, 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 home?
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 home include Downtown Louisville and Old Louisville, each with its own character and price range.

Rental Trends in New Albany, IN

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$1,050
Median Single Family Home Rent
$1,188
Median Townhouse Rent
$1,110
Median Condo Rent
$950
How to Rent a Home