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-Founded in 1813 along the Ohio River, New Albany was once Indiana's largest city and a thriving steamboat manufacturing center. Today, this historic river city combines small-town charm with easy access to Louisville, Kentucky, just across the Sherman Minton Bridge. The downtown area showcases an impressive collection of 19th-century mansions from the city's shipbuilding heyday, including the stunning Culbertson Mansion State Historic Site on Main Street.
New Albany's neighborhoods like Downtown Historic District and Silver Grove offer everything from beautifully renovated Victorian homes to modern apartment communities. The average rent for a one-bedroom apartment is around $964, below the Indiana state average, making it an attractive option for those seeking quality housing at reasonable prices. The walkable downtown features local boutiques and eateries along Pearl and Market Streets, and hosts the annual Harvest Homecoming festival each October, one of Indiana's largest community celebrations. Residents enjoy outdoor recreation at Binford Park, Sam Peden Community Park, and the Ohio River Greenway, which offers miles of riverfront trails.
New Albany offers convenient access to employment opportunities both locally and in Louisville, just minutes away across the Ohio River. The city is home to Indiana University Southeast and maintains good transportation connections via I-64 and I-265. With a population of approximately 38,000, New Albany strikes a balance between small-city accessibility and metropolitan amenities, making it an appealing choice for renters seeking comfort and community in southern Indiana.
Frequently Asked Questions
Average Rent Rates
What's the average rent for an apartment in New Albany, IN?
Apartment averages in New Albany, IN varies based on size.
- $945 for a 1-bedroom apartment in New Albany, IN
- $1,121 for a 2-bedroom apartment in New Albany, IN
- $1,391 for a 3-bedroom apartment in New Albany, IN
- $1,823 for a 4-bedroom apartment in New Albany, IN
Rental Requirements
Can I find a short-term apartment in New Albany, IN?
There are 84 short-term apartments in New Albany, IN.
Transportation
How do people usually get around New Albany, IN?
Residents in New Albany, IN usually get around by car. According to Walk Score, New Albany, IN falls within the Car Dependent range.
Education
What colleges and universities are in New Albany, IN?
If you’re a college or university student moving to New Albany, IN, ForRent.com can help you find a rental near Indiana Univ Southeast, Main-Main Campus, Indiana Univ. SE Grad Ctr-Graduate Center, Jefferson Comm. & Tech. JTC-Jefferson Technical Campus and others.
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Apartments near Colleges in New Albany
- Apartments near Indiana University, Southeast-Main Campus
- Apartments near Indiana University, Southeast-Graduate Center
- Apartments near Jefferson Community and Technical College-Jefferson Technical Campus
- Apartments near Jefferson Community and Technical College-Downtown Campus
- Apartments near Spalding University
- Apartments near University of Louisville-Health Sciences Campus






































