Lebanon, IN vs New Albany, IN

Lebanon, IN and New Albany, IN have a very similar cost of living, with only a 1.1% difference in their overall index. Lebanon scores 75 while New Albany scores 76 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Lebanon is $900/month compared to $971/month in New Albany — a 7% difference. Interestingly, home values tell a different story: while Lebanon has cheaper rent, New Albany actually has lower median home values ($169,600 vs $179,200).

Median household income in Lebanon is $63,773 compared to $54,152 in New Albany (+17.8%). Lebanon offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Lebanon spend roughly 16.9% of their income on rent, less than the 21.5% in New Albany.