New Albany cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexNew AlbanyOhioNational
Cost of living index14091100
IndexNew AlbanyOhioNational
Goods & Services index9696100
Groceries index9099100
Health care index9796100
Housing index24975100
Transportation index8395100
Utilities index96101100
Displayed above is a general overview of the New Albany, OH cost of living index. The overall cost of living index in New Albany, OH is 140, which is 55% higher than the Ohio average and 40% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in New Albany, OH are equal to the Ohio average and 4% lower than the national average.

Did you know?

  • The cost of living in New Albany is 55% higher than the Ohio average.
  • The cost of living in New Albany is 40% higher than the national average.
  • The cost of housing in New Albany is 149% higher than the national average.
  • Ohio general sales tax is 13% higher than the national average.
  • Ohio state income tax is 76% lower than the national average.

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Compare New Albany, OH Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Health care index
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Using the salary calculator lets you compare the salary you earn in New Albany, OH to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in New Albany, OH, you have to earn a higher income in order to still have the same standard of living. To operate the New Albany, OH salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$188,906$15,742$4,408$5,668
Renters$85,154$7,096$1,987$2,555
One can approximate the cost of living and the housing affordability in New Albany, OH by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in New Albany, OH have a median income of $188,906. Therefore, the amount that a consumer should spend on housing costs should be no more than $4,408 per month to avoid calamity and poverty. The renters in the city have an income of about $85,154, which would make their monthly maximum allowable rental costs $1,987.

Ohio Sales Tax

StateGeneral Sales TaxWith Max Surtax
Ohio5.75%8%

Ohio Income Tax

StateIncome Tax (Low)Income Tax (High)
Ohio0.528%5.333%
One thing to keep in mind when considering the cost of living in New Albany, OH is the Ohio sales tax and Ohio income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Ohio sales tax rate is 5.75% and the maximum surtax that can be charged is 8%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Ohio income tax rates range from 0.528% to 5.333%.

Goods & Services

ItemNew AlbanyNational avg.Difference
Haircut $11.20$14.5923.3%
Beauty Salon $33.20$34.684.3%
Toothpaste $1.78$2.4728.0%
Shampoo $0.91$1.0211.0%
Movie $9.31$9.875.7%
Bowling $4.25$4.393.2%

Groceries

ItemNew AlbanyNational avg.Difference
Ground Beef $4.73$4.485.7%
Fried Chicken $1.17$1.4620.1%
Milk $1.88$2.3620.2%
Potatoes $2.37$3.0622.6%
Pizza $9.99$9.248.1%
Beer $7.99$8.637.4%

Health Care

ItemNew AlbanyNational avg.Difference
Optometrist $59.90$99.7840.0%
Doctor $111.67$105.036.3%
Dentist $94.00$88.706.0%
Ibuprofen $7.49$9.4120.4%
Lipitor $267.15$298.5010.5%

Housing

ItemNew AlbanyNational avg.Difference
Home Price $477,200.00$175,700.00171.6%
Avg. Mortgage Payment $836.00$1,081.0322.7%
Apartment Rent $1,813.00$920.0097.1%

Transportation

ItemNew AlbanyNational avg.Difference
Gasoline $1.75$2.0916.6%
Tire Balancing $36.75$45.2918.8%

Utilities

ItemNew AlbanyNational avg.Difference
All Electricity$161.00$170.805.7%
Phone $27.99$28.260.9%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Whitehall, OH18,38383-17%
Brice, OH15285-15%
Valleyview, OH80586-14%
Blacklick Estates, OH8,58086-14%
Kirkersville, OH61287-13%
New Albany, OH8,16914040%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Croton-on-Hudson, NY8,16815959%
Ashland, WI8,16794-6%
Ketchikan, AK8,17312727%
Pleasant Hill, MO8,17393-7%
Asbury Lake, FL8,1651066%
New Albany, OH8,16914040%
Source: The New Albany, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.