New Richland, MN—56072
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Richland, MN
New Richland, MN lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $266,000 | 6.8% |
| Single Family | $266,000 | 6.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $213,000 | 7.6% |
3 Bed | $241,000 | 6.6% |
4 Bed | $295,000 | 5.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Richland, MN
New Richland, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Richland, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in New Richland, MN is 57. This is a increase of 18.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $209,000 | -24.0% |
Listing Count | 13 | 18.0% |
| Listings as % of Homes | 0.3% | 18.0% |
Days on Market | 57 | 18.0% |
Demographics — New Richland, MN
As of the latest ACS Survey released in 2023, New Richland, MN has a population of 2,150, which has remained stable by -0.7% over the past 5 years. New Richland, MN is a moderately popular place for families, as children make up 20.8% of the population. The area has a poorly educated workforce, with 19.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,150 | -0.7% |
% Under 18 | 20.8% | -6.3% |
% Seniors | 25.0% | 26.3% |
% WFH | 9.6% | 52.4% |
% w/ College Degree | 19.1% | 3.2% |
As of the latest ACS Survey released in 2023, New Richland, MN is a predominantly white area, with 95.3% of the population identifying as white. The white population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in New Richland, MN is hispanic, making up 1.4% of the population. Foreign-born residents account for 1.2% of the population in New Richland, MN, and this percentage has decreased by 29.4% 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 | 95.3% | -0.8% |
% Black | 0.4% | ∞% |
% Hispanic | 1.4% | -51.7% |
% Asian | 0.4% | -20.0% |
% Foreign Born | 1.2% | -29.4% |
Mortgage and Risk — New Richland, MN
According to HUD data as of 2023, there were 35 mortgage originations in New Richland, MN, of which 60.0% of loans were conventional mortgages. The average loan-to-value was 86.0%, with 57.0% above 90% LTV (very high). This implies large mortgage risk in New Richland, MN. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 35 |
% Conventional Loans | 60.0% |
% Government Loans | 40.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — New Richland, MN
New Richland, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 32 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $740 |
| 2 Bedroom | N/A | N/A | $960 |
| 3 Bedroom | N/A | N/A | $1,350 |
| 4 Bedroom | N/A | N/A | $1,630 |
Affordability — New Richland, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $266,000 |
| Median Household Income | $77,900 |