New Albany, IN vs New Haven, IN

New Albany, IN and New Haven, IN have a very similar cost of living, with only a 4.7% difference in their overall index. New Albany scores 76 while New Haven scores 73 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 New Albany is $971/month compared to $947/month in New Haven — a 3% difference. Home values follow the same pattern: New Haven is more affordable at $151,200 median vs $169,600.

Median household income in New Albany is $54,152 compared to $67,121 in New Haven (-19.3%). New Haven offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of New Albany spend roughly 21.5% of their income on rent, more than the 16.9% in New Haven.