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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
  • /4

    $920 Per Month

    • Studio
    • 1 Bath
    • Condo for Rent

    145-151 E Main St Unit 151-200, New Albany, IN 47150

    Property Id: 1692818Welcome to your new 2nd floor studio apartment located in the heart of New Albany! Renovated in 2022 featuring Quartz countertops, new white shaker cabinets overlooking Main St, City Hall and the river. This modern unit features a dishwasher, washer/dryer in unit, and central AC/heating. Walking distance to restaurants, shops, nightlife, farmers market with a

    145-151 E Main St Unit 151-200, 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 $938 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 $46,000 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 $1,150 per month in New Albany, IN, renters typically need to show $3,450 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 17.8, 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, Russell, Chickasaw, Park Hill and Old Louisville, 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
$938
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