New Albany, IN vs Warsaw, IN

New Albany, IN and Warsaw, IN have a very similar cost of living, with only a 3.1% difference in their overall index. New Albany scores 76 while Warsaw scores 78 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 $1,035/month in Warsaw — a 6% difference. Home values follow the same pattern: New Albany is more affordable at $169,600 median vs $175,300.

Median household income in New Albany is $54,152 compared to $57,170 in Warsaw (-5.3%). While Warsaw is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of New Albany spend roughly 21.5% of their income on rent, less than the 21.7% in Warsaw.