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New Albany

Learn about the people, housing, costs and businesses in New Albany, Pennsylvania

Median Home$207,000
Median Rent$896/month
Population257
Leading IndustriesRetail · Manufacturing · Agriculture & Mining24% retail
Home Value Growth⬆⬆+15.4% over 2 years
Retirees23% of residentsslightly above average
Homeowners84% of occupied units
NotableVeteran Community10% of residents · top 14% nationally
New Albany
PA

Frequently Asked Questions

What are today's mortgage rates in New Albany?

As of today, the 30-year fixed mortgage rate for New Albany is approximately 6.988% (7.027% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in New Albany?

The median home value in New Albany is $207k. The median monthly rent is $896. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Albany?

Home values in New Albany have increased 15.4% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in New Albany?

Based on a typical all-in ownership cost of $814/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $35k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Albany is $64k/year.

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What industries drive the economy in New Albany?

The largest employment sectors in New Albany are retail (24%) and public administration (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.