New Richmond, WI—54017
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Richmond, WI
As of Oct '25, the median home price in New Richmond, WI is $375,000, with a year-over-year change of 1.5%. This indicates that home prices in New Richmond, WI are increasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $375,000 | 1.5% |
| Single Family | $381,000 | 1.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $286,000 | 0.0% |
3 Bed | $361,000 | 1.1% |
4 Bed | $434,000 | 0.7% |
| 5 Bed | $500,000 | 1.6% |
% of Housing Stock
Rental Trends — New Richmond, WI
As of July '25, Rentcast reports the average rent in New Richmond, WI is $1,800, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in New Richmond, WI is studios: $1,050, 1-bedrooms: $940, 2-bedrooms: $1,630, 3-bedrooms: $2,270, 4-bedrooms: $2,480. The most common rental property sizes in New Richmond, WI are 2-bedroom and 3-bedroom, accounting for 45.1% and 20.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,800 |
| Studio Rent | $1,050 | $1,050 |
| 1 Bed Rent | $850 | $940 |
| 2 Bed Rent | $1,720 | $1,630 |
| 3 Bed Rent | $2,250 | $2,270 |
| 4 Bed Rent | $2,500 | $2,480 |
% of Rental Stock
Property Listings — New Richmond, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in New Richmond, WI is 65. This is a increase of 61.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $406,000 | -4.0% |
Listing Count | 122 | 17.0% |
| Listings as % of Homes | 0.7% | 17.0% |
Days on Market | 65 | 61.0% |
Demographics — New Richmond, WI
As of the latest ACS Survey released in 2023, New Richmond, WI has a population of 19,700, which has increased by 12.2% over the past 5 years. New Richmond, WI is a moderately popular place for families, as children make up 24.5% of the population. The area has a moderately educated workforce, with 34.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,700 | 12.2% |
% Under 18 | 24.5% | -5.4% |
% Seniors | 14.5% | 17.9% |
% WFH | 14.2% | 255.0% |
% w/ College Degree | 34.2% | 31.0% |
As of the latest ACS Survey released in 2023, New Richmond, WI is a predominantly white area, with 91.4% of the population identifying as white. The white population has shrunk by 4.1% in the last 5 years. The second most common race or ethnicity in New Richmond, WI is hispanic, making up 2.4% of the population. Foreign-born residents account for 1.2% of the population in New Richmond, WI, and this percentage has decreased by 20.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.4% | -4.1% |
% Black | 1.3% | 85.7% |
% Hispanic | 2.4% | 50.0% |
% Asian | 0.2% | -75.0% |
% Foreign Born | 1.2% | -20.0% |
Mortgage and Risk — New Richmond, WI
According to HUD data as of 2023, there were 512 mortgage originations in New Richmond, WI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in New Richmond, WI. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 512 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — New Richmond, WI
As of 2024, the percent of homes in New Richmond, WI under the Section 8 program is 6.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in New Richmond, WI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 210 |
Total Units Section 8 | 135 |
% Rentals under Section 8 | 6.9% |
% Occupied Section 8 | 75.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $350 | $850 | $1,200 |
| 2 Bedroom | -$260 | $1,720 | $1,460 |
| 3 Bedroom | -$280 | $2,250 | $1,970 |
| 4 Bedroom | -$260 | $2,500 | $2,240 |
Affordability — New Richmond, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $375,000 |
| Median Household Income | $99,800 |