New London, MN—56273
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New London, MN
As of Oct '25, the median home price in New London, MN is $319,000, with a year-over-year change of 3.8%. This indicates that home prices in New London, MN are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $319,000 | 3.8% |
| Single Family | $322,000 | 3.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $320,000 | 3.9% |
4 Bed | $393,000 | 3.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New London, MN
As of July '25, Rentcast reports the average rent in New London, MN is $895, with a year-over-year rent change of -36.1%. Per bedroom, the median rent as of July '25 in New London, MN is 1-bedrooms: $895. The most common rental property sizes in New London, MN are 1-bedroom and 2-bedroom, accounting for 36.3% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $640 | $895 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $640 | $895 |
| 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 London, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in New London, MN is 69. This is a increase of 100.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $594,000 | 53.0% |
Listing Count | 14 | -36.0% |
| Listings as % of Homes | 0.2% | -36.0% |
Days on Market | 69 | 100.0% |
Demographics — New London, MN
As of the latest ACS Survey released in 2023, New London, MN has a population of 5,050, which has increased by 5.8% over the past 5 years. New London, MN is a moderately popular place for families, as children make up 23.2% of the population. The area has a moderately educated workforce, with 35.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,050 | 5.8% |
% Under 18 | 23.2% | 7.9% |
% Seniors | 23.8% | 6.7% |
% WFH | 10.6% | 26.2% |
% w/ College Degree | 35.7% | 45.7% |
As of the latest ACS Survey released in 2023, New London, MN is a predominantly white area, with 95.9% of the population identifying as white. The white population has shrunk by 0.2% in the last 5 years. The second most common race or ethnicity in New London, MN is hispanic, making up 1.7% of the population. Foreign-born residents account for 1.8% of the population in New London, MN, and this percentage has increased by 63.6% 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 | 95.9% | -0.2% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.7% | -26.1% |
% Asian | 0.4% | -33.3% |
% Foreign Born | 1.8% | 63.6% |
Mortgage and Risk — New London, MN
According to HUD data as of 2023, there were 125 mortgage originations in New London, MN, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in New London, MN. Investor activity is low, as 1.0% 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 | 125 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 18.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — New London, MN
New London, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 7 |
Total Units Section 8 | 7 |
% 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 | $130 | $640 | $770 |
| 2 Bedroom | N/A | N/A | $950 |
| 3 Bedroom | N/A | N/A | $1,330 |
| 4 Bedroom | N/A | N/A | $1,570 |
Affordability — New London, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $319,000 |
| Median Household Income | $91,500 |