Commercial Real Estate Market in New Albany, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
95 active listings and 2,000 off-market properties in New Albany, IN. Commercial property asks $57/SF to buy and $15.90/SF/Yr to lease.
Market Trends
New Albany, IN spans 45.0 square miles in Floyd County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in New Albany, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in New Albany, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in New Albany, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in New Albany, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
New Albany, IN has 49,395 residents in 22,834 households. Density runs 1,098 people per square mile. Median household income here is $62,212 and median gross rent $984 a month.
49,395
Population
22,834
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
45 sq mi
ZIP Area
1,098
Density / Sq Mi
$62,212
Median Household Income
$40,837
Median Earnings
$984
Median Rent
$191,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Ekin | — | — |
| Floyds Knobs | — | — |
| Jeff | — | — |
| Clarksville | — | — |
Commercial property in New Albany, IN asks $57/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in New Albany?
Commercial property in New Albany, IN asks an average of $57 per square foot.
How much does it cost to lease commercial space in New Albany?
Asking lease rates in New Albany, IN average $15.90 per square foot per year.
Where does Realmo's New Albany market data come from?
Realmo compiles New Albany, IN figures from 2 recent recorded sales, 60 active sale listings, 35 active lease listings, 2,000 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 60 active for-sale and 35 active for-lease listings in New Albany, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
