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Affordable
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These days, finding an affordable place to live in the New Germany area can be challenging. Home prices in New Germany are now at a median cost of $345,976, higher than the Minnesota average of $345,793.
The average cost of rent is $1,190/mo in New Germany, primarily driven by the current value of real estate in the New Germany area. In New Germany, 10.37% of households rent, and 37.88% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Germany is $8,179 per month. Households that rent pay about 14.55% of their income on rent here. New Germany’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Lester Prairie, MN: less expensive homes
- Mayer, MN: higher priced homes
- Winsted, MN: less expensive homes
- Young America, MN: higher priced homes
- Watertown, MN: equally priced homes
- Plato, MN: equally priced homes
- Norwood Young America, MN: less expensive homes
- Waconia, MN: higher priced homes
- Norwood, MN: higher priced homes
- Silver Lake, MN: less expensive homes
Cities with Similar Populations
- Alburg, VT: less expensive homes
- Alton, IA: less expensive homes
- Blue River, WI: less expensive homes
- Red Valley, VA: less expensive homes
- Odebolt, IA: less expensive homes
- Odell, IL: less expensive homes
- Palisades, NY: higher priced homes
- Phillipsburg, OH: less expensive homes
- Pine Meadow, CT: less expensive homes
- Pinesdale, MT: higher priced homes
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