New Albany, IN vs New Castle, IN

There is a significant gap in the cost of living between these two cities. New Castle is 17.6% cheaper than New Albany. With a cost index of 65 vs 76, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from New Castle to New Albany should plan for substantially higher expenses across most categories.

On the housing front, median rent in New Albany is $971/month compared to $797/month in New Castle — a 22% difference. Home values follow the same pattern: New Castle is more affordable at $95,100 median vs $169,600.

Median household income in New Albany is $54,152 compared to $48,977 in New Castle (+10.6%). The higher salaries in New Albany partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of New Albany spend roughly 21.5% of their income on rent, more than the 19.5% in New Castle.