New Albany has the 613th largest population in the United States. The population shrank by 0.9% from 2010 to 2015, which was slower than the national average. New Albany is part of the Louisville metro area. Unemployment in the Louisville area is 4%, which is lower than the national average, and is getting better. Louisville has the 48th largest local economy in the US, and a low cost of living. The average pay for jobs in New Albany is below average at $43,410, and the median cost of a home in New Albany is $84,100, which is below the national average. 18% of workers in New Albany hold a bachelors degree or higher (above average), and 78% of workers have a high school degree (above average). Driving to work is especially common in New Albany. 86% of New Albany workers drive to work alone, 0% take public transit, 9% carpool, and 3% walk. People in New Albany spend an average of 19 minutes commuting to work, which is shorter than the national average of 26 minutes.