salaryRent is lower than in 86% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 18.4 minutes.
How much money do I need?
To rent here comfortably, you should earn about $40,960 a year. That is $20 an hour at a full-time job.
Is rent cheaper than other Mississippi cities?
Yes. Rent here is cheaper than in most of Mississippi. It is number 23 of 66 cities from cheapest to most expensive.
How much do households earn in New Albany?
Share of households by yearly income. 15.9% of households earn $100,000 or more.
Rent by apartment size in New Albany
| Size | New Albany | U.S. average |
|---|---|---|
| Studio | $902 | $1,338 |
| 1 bedroom | $884 | $1,324 |
| 2 bedrooms | $1,032 | $1,509 |
| 3 bedrooms | $1,168 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is New Albany overall?
Everyday prices in Mississippi overall are 13% below the U.S. average (index 87.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for New Albany, so the Mississippi figure is shown.
Taxes and bills in New Albany
Life in New Albany
Is it cheaper to rent or buy in New Albany?
Renting is cheaper right now: about $96 a month less.
Owning assumes a typical $161,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $16,140 for the down payment.
Frequently asked questions
What is the average rent in New Albany, MS?
Renting in New Albany costs a median of about $1,024 a month in 2026, including utilities. The Mississippi median is $1,187.
How much do I need to make to live in New Albany?
To keep rent under 30% of income, you need about $40,960 a year, or $20 an hour at a full-time job.
Is New Albany cheap or expensive?
New Albany is rated OK: rent takes 22.2% of the typical household income of $55,362. It ranks 23rd cheapest of 66 Mississippi cities we track.
How much are property taxes in New Albany?
The median homeowner in New Albany pays $965 a year in property taxes, about 0.60% of the median home value.
Is New Albany more expensive than the national average?
Overall prices in Mississippi are 13% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in New Albany?
The median home value in New Albany is $161,400, about 2.9 times the typical yearly household income.
7,663 people live in New Albany. Numbers are typical (middle) values.