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New Albany city, IN

ZIP 47150 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 47150

Median Home Value
$191,800
Median Rent
$837
Affordability Snapshot
$53,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,232/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.1x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

19.1 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 47150 in New Albany city, IN, a household would need roughly $53,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,232. That sits below the local median household income ($62,212), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 11% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
62.5%-4% vs US avg
x
Vacancy Rate
10.8%+5% vs US avg
x
Broadband Access
84.4%-3% vs US avg
x
4+ Bedrooms
2.6%-82% vs US avg
x
Built Pre-1939
7.6%-41% vs US avg
x
Built Post-2014
0.3%-96% vs US avg
x
Rent Burden >30%
19.2%-61% vs US avg
x
Mortgage-Free
33.0%-14% vs US avg
x
$191,800
Home Value
$837
Rent
1968
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached67.4%
  • 1-unit attached3.6%
  • 2-9 units13.6%
  • 10+ units13.2%
  • Mobile home & other2.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$191,800
Median rent$837
Owner-occupied62.5%
Vacant10.8%
Price-to-income3.1x
Est. income to buy$53,000