Residential comparison · 13 facts
New Albany, IN vs Richmond, IN
Compare the housing, tax, cost, income, safety, school, and climate facts that are available for both places. The table shows the numbers without declaring one city universally better.
A household earning $85,000 in New Albany needs about $80,500 in Richmond to keep the same lifestyle.
Coming from Richmond, $85,000 of lifestyle costs about $89,500 in New Albany.
A few differences
- New Albany is higher on median household income ($54,710 vs $45,399).
- Richmond is lower on cost of living index (73 vs 80).
- Richmond is lower on 2-bedroom rent ($843/mo vs $1,065/mo).
New Albany vs Richmond · facet by facet
| Facet | New Albany, IN | Richmond, IN |
|---|---|---|
| Median home price | $180,500 | $114,400 |
| 2-bedroom rent | $1,065/mo | $843/mo |
| Property tax rate | 0.83% | 0.83% |
| State & local income tax | 4.75% | 4.75% |
| Sales tax | 7% | 7% |
| Cost of living index | 80 | 73 |
| Groceries index | 95 | 95 |
| Utilities | $165/mo | $165/mo |
| Median household income | $54,710 | $45,399 |
| Unemployment rate | 3.6% | 3.6% |
| Crime index | 45/100 | 45/100 |
| School rating | 5.8/10 | 5.8/10 |
| Sunny days / year | 190 days | 190 days |
Data: Census ACS 2024 · BLS · Tax Foundation 2024 brackets · HUD/Zillow · NOAA 1991–2020 · FEMA NRI · Values are shown as reported; no universal winner is implied.
Full profiles: New Albany, IN · Richmond, IN
Questions & answers
- Is New Albany cheaper than Richmond?
- Richmond has the lower day-to-day cost index (73 vs 80 against a national 100). The other differences are shown facet by facet in the table.
- What household income in Richmond equals $85,000 in New Albany?
- A household earning $85,000 in New Albany needs about $80,500 in Richmond to keep the same lifestyle; coming the other way, $85,000 of Richmond lifestyle costs about $89,500 in New Albany.