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These days, finding an affordable place to live in the New Ulm area can be challenging. Home prices in New Ulm are now at a median cost of $226,203, lower than the Minnesota average of $345,793.
The average cost of rent is $967/mo in New Ulm, primarily driven by the current value of real estate in the New Ulm area. In New Ulm, 22.72% of households rent, and 43.77% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Ulm is $6,167 per month. Households that rent pay about 15.68% of their income on rent here. New Ulm’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Klossner, MN: higher priced homes
- Courtland, MN: higher priced homes
- St. George, MN: higher priced homes
- Essig, MN: higher priced homes
- Searles, MN: equally priced homes
- Lafayette, MN: equally priced homes
- Hanska, MN: less expensive homes
- Sleepy Eye, MN: less expensive homes
- Nicollet, MN: higher priced homes
- Godahl, MN: higher priced homes
Cities with Similar Populations
- Senoia, GA: higher priced homes
- Druid Hills, GA: higher priced homes
- Fairview, CA: higher priced homes
- Fairview Heights, IL: less expensive homes
- Hutchinson, MN: higher priced homes
- Rutherfordton, NC: higher priced homes
- Rye, NY: higher priced homes
- Sayville, NY: higher priced homes
- Scott, LA: less expensive homes
- Scotts Valley, CA: higher priced homes
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