Rent to own Homes in New Albany, IN
Lying across the Ohio River from Louisville, Kentucky is New Albany, a historic and charming city of about 37,000 people. Within its limits are seven nationally registered historic districts and four locally registered ones. Founded in 1813 by three brothers, the settlement grew quickly, thanks to the Ohio River. It was one of the largest cities in the Midwest for about 50 years. New Albany is much more than a suburb; it's a unique city in its own right.
New Albany, IN is a great place for affordable rent-to-own homes! With a median household income of over $49,415 and a median rent of $791, the New Albany, IN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in New Albany, IN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More New Albany, IN Property Resources
Rent to own Homes in Cities Near New Albany, IN
- Anchorage
- Audubon Park
- Barbourmeade
- Bellemeade
- Bellewood
- Blue Ridge Manor
- Broeck Pointe
- Brownsboro Farm
- Brownsboro Village
- Buckner
- Cambridge
- Charlestown
- Crandall
- Creekside
- Elizabeth
- Fincastle
- Forest Hills
- Galena
- Glenview Hills
- Goose Creek
- Henryville
- Hollow Creek
- Hurstbourne
- Jeffersonville
- Lanesville
- Lincolnshire
- Manor Creek
- Marysville
- Masonic Home
- Middletown
- Murray Hill
- New Pekin
- New Salisbury
- Northfield
- Norwood
- Otisco
- Pekin
- Plantation
- Poplar Hills
- Riverwood
- St. Regis Park
- Sycamore
- Ten Broeck
- Underwood
- Utica
- Watterson Park
- West Buechel
- Windy Hills
- Woodland Hills
- Woodlawn Park
Neighborhoods in New Albany, IN
Downtown New Albany rent to own homesBuying a Home in New Albany, IN
New Albany, IN is seeing rapid growth and New Albany, IN's' housing market remains optimal with an average home price that is -41% below the 2024 national average. New Albany, IN is part of Floyd county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Floyd is 0.78% which is below the national average, which is 0.99%.
Median Home Price in New Albany, IN
Median Rent in New Albany, IN
6 Great Things About Living in New Albany, Indiana
Good Home Values! It's a great feeling when you can look for a place to live in a nice location that's affordable. With a median listing price of $131,276 as of late 2014, this town qualifies. Several neighborhoods will have great rent to own opportunities and there is history all around. Culbertson Mansion State Historic site is a fine example of period architecture, which you can admire during one of the hosted ghost tours. The Carnegie Center for Art and History is another local treasure.
Search for antique surprises! Begin your hunt for the latest addition to your antique collections or furnishings in Aunt Artie's Antique Mall on West Main Street. Follow that up with an exploration of Antiques Attic on East Market. After working up a big appetite looking at houses it's time to eat. Head on over to Feast BBQ for an incredible spread of great fixings.
Exceptional food variety! There are many great eateries here. Try the exotic taste temptations of the Pizzeria and Public House at New Albanian Brewery. For an upscale dinner and impressive wine list, visit River City Winery on Pearl Street. There's more great food at Shawn's Southern BBQ on State Street.
Outstanding parks! The different neighborhood parks around town help enhance the quality of life by providing spots for fun, relaxation and respite from the din of city life. Sam Peden Community Park is over 100 acres in size and has a lake, hiking trails, picnic areas and more. Enjoy neighboring Anderson Park and Falling Run Park ball fields.
Affordable rents! The average monthly rent in New Albany is slightly lower than nearby Louisville and also less than national numbers. Finding property here means living in a city with a lot to offer for less money. For shopping variety, try Green Tree Mall and River Falls, conveniently located nearby.