In New Albany, a typical home is worth $772,100 and typical rent is $2,355 a month. Compared with all of Franklin County, typical household income is 217% higher, the typical home value is 168% higher, and the share of households that own their home is 36 points higher.
Typical home value from Zillow, September 2021 to September 2026: from $476,104 to $628,452.
Typical rent
$1,958a month
▲ 7.8% more than 12 months ago
Typical rent from Zillow, June 2022 to September 2026: from $1,588 to $1,958.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
New Albany is in Franklin County. The FHA loan limit ($591,100 for a one-unit home), the fair market rents and the help on this page are those of all of Franklin County. See the county
What this place has that others do not, from public data, most unusual first.
1
New Albany has the highest typical household income of the 292 cities in Ohio with more than 5,000 people: $238,250.
2
89% of households in New Albany own their home, against 53% in Franklin County.
3
New Albany has the 2nd highest typical home value of the 292 cities in Ohio with more than 5,000 people ($772,100).
4
The typical rent in New Albany is $2,355 a month, 81% more than in Franklin County as a whole ($1,302).
5
Nearby, in Johnstown, the typical rent is $886: 62% less than in New Albany ($2,355).
6
Nearby, in Reynoldsburg, the typical home value is $244,300: 68% less than in New Albany ($772,100).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in New Albany
What homes there are in New Albany, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
New Albany
Franklin County
Ohio
United States
Kind of home: New Albany and its comparisons
Measure
New Albany
Franklin County
Ohio
United States
Detached house
89%
52%
69%
61%
Attached house
3%
10%
5%
6%
Building of 2 to 4
Unreliable estimate
11%
8%
8%
Apartments (5 or more)
Unreliable estimate
26%
15%
19%
Mobile home
Unreliable estimate
1%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
The detached house rules in New Albany: 89% of homes, more than in Franklin County (52%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
New Albany
Franklin County
Ohio
United States
Year built: New Albany and its comparisons
Measure
New Albany
Franklin County
Ohio
United States
Before 1960
Unreliable estimate
25%
38%
26%
1960–1979
6%
26%
26%
24%
1980–1999
20%
25%
20%
25%
2000–2009
39%
12%
10%
14%
2010 or later
32%
12%
7%
11%
Homes in New Albany are newer: the typical year built is 2005; in Franklin County, 1979.
In New Albany, 88% of homes have 3 bedrooms or more, more than in Franklin County (53%).
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200KUnreliable
$200K–$300KUnreliable
$300K–$500K16%
$500K–$750K30%
$750K–$1M31%
$1M or more22%
Value of owner-occupied homes: New Albany and its comparisons
Measure
New Albany
Under $100K
Unreliable estimate
$100K–$200K
Unreliable estimate
$200K–$300K
Unreliable estimate
$300K–$500K
16%
$500K–$750K
30%
$750K–$1M
31%
$1M or more
22%
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,499Unreliable
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: New Albany and its comparisons
Measure
New Albany
Under $500
Unreliable estimate
$500–$999
Unreliable
$1,000–$1,499
Unreliable
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
With a mortgage
$3,737 a month
Franklin County: $1,781 a month
Owners with a mortgage
76%
Franklin County: 70%
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
New Albany+55%
Franklin County+65%
Ohio+47%
United States+53%
Typical rent
New AlbanyNo clear change
Franklin County+34%
Ohio+28%
United States+33%
Typical household income
New Albany+17%
Franklin County+23%
Ohio+26%
United States+29%
Change since 2015–2019: New Albany and its comparisons
Measure
New Albany
Franklin County
Ohio
United States
Typical home value
+55%
+65%
+47%
+53%
Typical rent
No clear change
+34%
+28%
+33%
Typical household income
+17%
+23%
+26%
+29%
Homes in New Albany gained value more slowly than in Franklin County: 55% since 2015–2019, against 65%.
Rent in New Albany moved so little since 2015–2019 that the Census cannot say whether it rose or fell.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: New Albany and its comparisons
Measure
New Albany
Franklin County
Ohio
United States
Rental vacancy
Unreliable estimate
3.8%
4.4%
5.5%
Homeowner vacancy
Unreliable estimate
0.8%
0.8%
0.9%
More than one person per room
Unreliable estimate
2.5%
1.5%
3.4%
People per household
2.98
2.36
2.37
2.53
Drive alone
70%
68%
75%
69%
Carpool
3%
7%
8%
9%
Public transit
Unreliable estimate
2%
1%
3%
Walk or bike
Unreliable estimate
3%
2%
3%
Work from home
25%
19%
13%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Households in New Albany are bigger: 2.98 people on average; in Franklin County, 2.36.
Many people here do not commute at all: 25% work from home; in Franklin County, 19%.
Do the math
What would you pay each month for a home in New Albany?
A typical home is tight for the typical income
We start with a typical home in New Albany, worth $772,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in New Albany, which is $238,250 a year. For that payment to be 28% of income, a household would need to earn about $284,373 a year. Note: at that price the loan is above the FHA limit for Franklin County ($591,100), so FHA would not insure it; the payment is only a reference.
The calculator's FHA and conventional loan limits are those of all of Franklin County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in New Albany. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $27,024 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$6,635
at 7.18% · 30 years
Loan amount
$758,115
Total interest
$1,090,749
Paid off in
November 2056
Includes $13,039 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $5,559 a month
Tight
$5,559 to $7,148 a month
Your payment · 33%
Hard
more than $7,148 a month
Compared with the typical household income in New Albany ($238,250 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$5,136
Property tax
$836
Home insurance
$322
FHA mortgage insurance (MIP)
$341
This loan is over the FHA limit
You'd borrow $745,076, but the FHA limit for a one-unit home in New Albany is $591,100. You'd need a bigger down payment or a different loan.
You need at least $27,024 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $6,635; principal and interest $5,136.
The city and its county
New Albany and Franklin County
New Albany is in Franklin County, Ohio. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
New Albany
Map of Franklin County, Ohio, with New Albany marked. Around it, the neighboring counties.
New Albany
Franklin County
Other cities with a page
New Albany's own numbers
Typical home value
$772,100
Typical monthly rent
$2,355
Typical yearly household income
$238,250
Households that own their home
89%
Effective property tax rate
1.3%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Franklin County
FHA limit, one-unit home
$591,100
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,602
Price change over 5 years (FHFA)
+51%
Homes in a high flood-risk zone
1.1%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Franklin County.
A typical home in New Albany is worth $772,100: 168% above the county and 259% above Ohio. With the typical household income in New Albany ($238,250 a year), a typical home costs 3.2 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
New Albany3.2 years
Franklin3.8 years
Ohio3.0 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Franklin County
According to FHFA’s house price index, home prices in Franklin County rose 107% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Franklin County.
Yearly change in FHFA’s price index in Franklin County, 2016 to 2025
2016: +6.5% +6.5% 2016
2017: +7.2% +7.2% 2017
2018: +7.6% +7.6% 2018
2019: +5.6% +5.6% 2019
2020: +5.3% +5.3% 2020
2021: +12.0% +12.0% 2021
2022: +15.4% +15.4% 2022
2023: +7.6% +7.6% 2023
2024: +5.5% +5.5% 2024
2025: +3.2% +3.2% 2025
Change in FHFA’s price index in Franklin County, Ohio and the United States
Period
County
Ohio
U.S.
Last year (2025)
+3.2%
+4.8%
+2.9%
5 years (2020–2025)
+51%
+53%
+47%
10 years (2015–2025)
+107%
+93%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
New Albany next to Franklin County, Ohio and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
New Albany$772,100
Franklin$288,400
Ohio$214,800
United States$332,700
Typical monthly rent
New Albany$2,355
Franklin$1,302
Ohio$1,034
United States$1,413
Typical yearly household income
New Albany$238,250
Franklin$75,176
Ohio$71,389
United States$80,734
See the full table
New Albany next to Franklin County and Ohio
Measure
New Albany
Franklin County
Ohio
U.S.
Typical home value
$772,100 ▲168% above the county
$288,400
$214,800
$332,700
Typical monthly rent
$2,355 ▲81% above the county
$1,302
$1,034
$1,413
Typical yearly household income
$238,250 ▲217% above the county
$75,176
$71,389
$80,734
Households that own their home
89% ▲36 points above the county
53%
67%
65%
Typical yearly property tax
$10,001 ▲136% above the county
$4,244
$2,822
$3,119
Effective property tax rate
1.3% ▼0.17 points below the county
1.47%
1.31%
0.94%
Renters with high rent for their income
36% ▼11 points below the county
46%
46%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Franklin County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in New Albany
For a typical $772,100 home in New Albany, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, New Albany's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$6,635a month
Above the FHA limit for Franklin County ($591,100)
Down payment
$27,024
Cash to close
$50,187
Rate
7.18%
Mortgage insurance
FHA MIP · $341
Conventional, 5% down$6,494a month
Least cash to close
Down payment
$38,605
Cash to close
$61,768
Rate
7.18%
Mortgage insurance
PMI · $367
Conventional, 20% down, no PMI$5,343a month
Down payment
$154,420
Cash to close
$177,583
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$6,056a month
Down payment
$115,815
Cash to close
$138,978
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in New Albany
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Above the FHA limit for Franklin County ($591,100)
$6,635
$27,024
$758,115
7.18%
FHA MIP · $341
$50,187
580
Conventional, 5% down Least cash to close
$6,494
$38,605
$733,495
7.18%
PMI · $367
$61,768
620*
Conventional, 20% down, no PMI
$5,343
$154,420
$617,680
7.18%
None
$177,583
620*
ITIN, 15% down (example)
$6,056
$115,815
$656,285
8.18%
None
$138,978
Set by the lender
The option that asks for the least cash to close is Conventional, 5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in New Albany is $2,355 a month: 81% above the county. In New Albany, 36% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Franklin County, by unit size. To pay the 2-bedroom one ($1,602 a month) without spending more than 30% of your income, you would need to earn $30.81 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Franklin County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,258
$24.19
$50,320
1 bedroom
$1,346
$25.88
$53,840
2 bedrooms
$1,602
$30.81
$64,080
3 bedrooms
$1,909
$36.71
$76,360
4 bedrooms
$2,172
$41.77
$86,880
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in New Albany
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). New Albany is in ZIP code 43054.
For 2 bedrooms it is $2,300: $698 more than the fair market rent for Franklin County ($1,602).
Fair market rent by ZIP code and size in New Albany, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
43054
$1,810
$1,930
$2,300
$2,740
$3,120
ZIP code2 bd3 bd
43054 $2,300$2,740
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for New Albany when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 7 HUD-approved agencies with an office in Franklin County; none says it serves in Spanish.
No down payment, repair or rent-help program on our list is for New Albany or Franklin County. The ones below are statewide in Ohio: they work in New Albany the same as in the rest of the state.
Ohio state agency help of 2.5% or 5% of the price for the down payment, closing costs or other costs before closing, forgiven after seven years; if you sell sooner, you repay all of it.Offered by Ohio Housing Finance Agency (OHFA).
Ohio state agency certificate that turns part of your mortgage interest into a credit on your federal tax return, up to $2,000 a year: 40% with an OHFA mortgage (MTC Plus) or 15% to 20% with another mortgage (MTC Basic).Offered by Ohio Housing Finance Agency (OHFA).
No legal help resource on our list is for New Albany or Franklin County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for New Albany and all of Franklin County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in New Albany?
The typical home value in New Albany is $772,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Franklin County it is $288,400.
How much does it cost to rent in New Albany?
Typical rent in New Albany is $2,355 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Franklin County is $1,602.
What is the FHA loan limit in New Albany?
New Albany uses the FHA limit for all of Franklin County (2026): $591,100 for a one-unit home and $1,136,750 for a four-unit home.
How much property tax do owners pay in New Albany?
The typical homeowner in New Albany pays $10,001 a year, according to the U.S. Census Bureau. That is 1.3% of the home’s value; in Franklin County, the rate is 1.47%.
Where can I find free help to buy or rent in New Albany?
There are 7 HUD-approved counseling agencies with an office in Franklin County. They can help you get ready to buy, with your credit, or with rent.
