New Ulm, MN 56073 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

New Ulm, MN—56073

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$237,000

8.5% YoY Growth

Household Income

$69,700

13.9% YoY Growth

Days on Market

13.0% Longer YoY

Home Price Forecast

3.0%

Median Rent

$1,020

1.0% YoY Growth

1-Bed Rent

$900

4.5% YoY Growth

2-Bed Rent

$1,200

25.4% YoY Growth

3-Bed Rent

$1,250

N/A

Home Price Trends — New Ulm, MN

As of Dec '25, the median home price in New Ulm, MN is $237,000, with a year-over-year change of 8.5%. This indicates that home prices in New Ulm, MN are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$237,000	8.5%
Single Family	$237,000	8.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — New Ulm, MN

As of July '25, Rentcast reports the average rent in New Ulm, MN is $1,010, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in New Ulm, MN is 1-bedrooms: $918, 2-bedrooms: $1,160, 3-bedrooms: $1,250. The most common rental property sizes in New Ulm, MN are 2-bedroom and 1-bedroom, accounting for 43.4% and 26.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,020	$1,010
Studio Rent	N/A	N/A
1 Bed Rent	$900	$918
2 Bed Rent	$1,200	$1,160
3 Bed Rent	$1,250	$1,250
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

1.4%

1 Bedroom

26.7%

2 Bedrooms

43.4%

3 Bedrooms

22.0%

4 Bedrooms

5.8%

5+ Bedrooms

0.7%

Property Listings — New Ulm, MN

As of Dec '25, Realtor.com reports that the median days on market for a home in New Ulm, MN is 61. This is a increase of 9.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$276,000	10.0%
Listing Count	33	-6.0%
Listings as % of Homes	0.3%	-6.0%
Days on Market	84	13.0%

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Demographics — New Ulm, MN

As of the latest ACS Survey released in 2023, New Ulm, MN has a population of 17,300, which has increased by 4.5% over the past 5 years. New Ulm, MN is a moderately popular place for families, as children make up 21.7% of the population. The area has a moderately educated workforce, with 26.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.4% reporting working from home.

Metric	Latest Census	YoY % Change
Population	17,300	4.5%
% Under 18	21.7%	6.9%
% Seniors	21.1%	5.5%
% WFH	7.4%	12.1%
% w/ College Degree	26.6%	14.2%

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As of the latest ACS Survey released in 2023, New Ulm, MN is a predominantly white area, with 93.6% of the population identifying as white. The white population has remained stable in the last 5 years. The second most common race or ethnicity in New Ulm, MN is hispanic, making up 3.5% of the population. Foreign-born residents account for 2.3% of the population in New Ulm, MN, and this percentage has increased by 21.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	93.6%	0.0%
% Black	0.6%	-45.5%
% Hispanic	3.5%	-2.8%
% Asian	0.8%	14.3%
% Foreign Born	2.3%	21.1%

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Mortgage and Risk — New Ulm, MN

According to HUD data as of 2023, there were 313 mortgage originations in New Ulm, MN, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in New Ulm, MN. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	313
% Conventional Loans	90.0%
% Government Loans	10.0%
% Investor Loans	3.0%
% Second Loans	1.0%
% Cash Out Refinance	7.0%

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Rentals and Section 8 — New Ulm, MN

New Ulm, MN lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	271
Total Units Section 8	205
% Rentals under Section 8	13.3%
% Occupied Section 8	73.8%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$80	$900	$820
2 Bedroom	-$180	$1,200	$1,020
3 Bedroom	$150	$1,250	$1,400
4 Bedroom	N/A	N/A	$1,710

New Ulm, MN—56073

Key Metrics at a Glance

Home Price Trends — New Ulm, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Ulm, MN

% of Rental Stock

Property Listings — New Ulm, MN

Demographics — New Ulm, MN

Race and Ethnicity

Mortgage and Risk — New Ulm, MN

Mortgages

Rentals and Section 8 — New Ulm, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — New Ulm, MN

Home Price to Income Ratio

New Ulm, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Courtland, MN

Hanska, MN

Lafayette, MN

Gibbon, MN

Madelia, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.9
Median Home Price	$237,000
Median Household Income	$69,700

New Ulm, MN—56073

Key Metrics at a Glance

Home Price Trends — New Ulm, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New Ulm, MN

% of Rental Stock

Property Listings — New Ulm, MN

Demographics — New Ulm, MN

Race and Ethnicity

Mortgage and Risk — New Ulm, MN

Mortgages

Rentals and Section 8 — New Ulm, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — New Ulm, MN

Home Price to Income Ratio

New Ulm, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Courtland, MN

Hanska, MN

Lafayette, MN

Gibbon, MN

Madelia, MN

Frequently Asked Questions

What is the average home price in New Ulm, MN 56073?

How have home prices in New Ulm, MN 56073 changed over the past year?

What is the home price projection for New Ulm, MN 56073?

What are the demographics of New Ulm, MN 56073?

How long does it take homes to sell in New Ulm, MN 56073?

What is the average rent price in New Ulm, MN 56073?