Forgivable loan
City of New Albany Homeownership Assistance Program
First-time homebuyers · Income limits · Single Family
Down payment assistance · Floyd County
Buying a home in New Albany, IN
1 New Albany program and 8 statewide.New Albany has 1 program of its own, and 8 statewide. Here is what each one offers, what the local market looks like, and who near you can walk you through it.
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Only for New Albany addresses
New Albany’s own program
The New Albany marketThe New Albany housing market
Kinds of homes hereWhat’s for sale here, and what the programs accept
Kinds of homes in New Albany
- 60.8% single-familysingle-family
- 4.1% townhousetownhouse
- 9.9% 2–4 units2–4 units
- 23.2% 5+ unitscondo & apartment buildings (5+ units)
- 2% mobile & othermobile home & other
About condos. New Albany’s one local program does not list condos as eligible. City of New Albany Homeownership Assistance Program lists single family.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25024.
When New Albany’s homes were built
pre-19401970s2020+
69.7%
of New Albany homes were built before 1980. Pre-1978 homes come with a federal lead-paint disclosure.of homes were built before 1980. A home built before 1978 comes with a federal lead-paint disclosure, and some programs require an inspection.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25034.
$99,000
County area median income, 4 people (HUD)HUD area median income, Floyd County, 4-person household (2026)
$54,710
New Albany median household incomeMedian household income in New Albany (Census, 2024)
13 of the 71 programs here set their income limit as a share of Floyd County’s area median income, adjusted for household size. See the published limits for Floyd County
Free help nearbyFree help near New Albany
2 HUD-approved counseling agencies within 15 miles2 HUD-approved housing counseling agencies within 15 miles
New Albany’s program asks for a homebuyer class first. Create a free account to see who’s near you and pick one.City of New Albany Homeownership Assistance Program asks for a homebuyer class. A HUD-approved counselor teaches it and can walk you through your options. Create a free account to see who’s near you and pick one.
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Across Indiana and nationwide
70 statewide & federal programs8 statewide programs, plus federal options
New Albany questions
Does New Albany have its own down payment program?
Yes, one: City of New Albany Homeownership Assistance Program, a forgivable loan for first-time homebuyers (forgiven over 5 yrs, income limits). It is for homes inside New Albany.
Can I use assistance on a condo in New Albany?
New Albany’s one local program does not list condos as eligible. City of New Albany Homeownership Assistance Program lists single family. Each program’s page lists the kinds of homes it accepts, and the agency confirms it for the home you choose.
What is the income limit in Floyd County?
Each program sets its own. 13 of the programs here set theirs as a share of HUD’s area median income for Floyd County, adjusted for household size. HUD publishes the median each year; the 2026 figure is shown above and on the published limits page.
Where can I take a homebuyer class near New Albany?
HUD-approved housing counseling agencies teach homebuyer classes, and 2 agencies are within 15 miles of New Albany. Create a free account and take the 90-second match to see the ones near you.
ZIP codes
47150 · 47151
Nearby in Floyd
Sources
Sources: agency sites (June–August 2026), Census ACS 2024 5-year, HUD FY2026, HUD counseling list. Hey Prescott is not a lender.Programs: Hey Prescott catalog of 2,000+ programs, each verified with its agency (June–August 2026). Market: U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Income: HUD FY2026 income limits. Counselors: HUD list of approved housing counseling agencies. Hey Prescott is not a lender.