New London, MN 56273 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

New London, MN—56273

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$318,000

3.7% YoY Growth

Household Income

$91,500

41.0% YoY Growth

Days on Market

49.0% Longer YoY

Home Price Forecast

1.9%

Median Rent

$640

36.1% YoY Growth

1-Bed Rent

$640

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — New London, MN

As of Nov '25, the median home price in New London, MN is $318,000, with a year-over-year change of 3.7%. This indicates that home prices in New London, MN are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$318,000	3.7%
Single Family	$322,000	3.5%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

2.2%

1 Bedroom

36.3%

2 Bedrooms

30.4%

3 Bedrooms

16.8%

4 Bedrooms

14.3%

Property Listings — New London, MN

As of Nov '25, Realtor.com reports that the median days on market for a home in New London, MN is 44. This is a increase of 49.0% 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	$554,000	66.0%
Listing Count	16	-35.0%
Listings as % of Homes	0.2%	-35.0%
Days on Market	44	49.0%

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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%

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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%

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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%

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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

New London, MN—56273

Key Metrics at a Glance

Home Price Trends — New London, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New London, MN

% of Rental Stock

Property Listings — New London, MN

Demographics — New London, MN

Race and Ethnicity

Mortgage and Risk — New London, MN

Mortgages

Rentals and Section 8 — New London, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — New London, MN

Home Price to Income Ratio

New London, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Spicer, MN

Belgrade, MN

Kandiyohi, MN

Willmar, MN

Pennock, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.1
Median Home Price	$318,000
Median Household Income	$91,500

New London, MN—56273

Key Metrics at a Glance

Home Price Trends — New London, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New London, MN

% of Rental Stock

Property Listings — New London, MN

Demographics — New London, MN

Race and Ethnicity

Mortgage and Risk — New London, MN

Mortgages

Rentals and Section 8 — New London, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — New London, MN

Home Price to Income Ratio

New London, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Spicer, MN

Belgrade, MN

Kandiyohi, MN

Willmar, MN

Pennock, MN

Frequently Asked Questions

What is the average home price in New London, MN 56273?

How have home prices in New London, MN 56273 changed over the past year?

What is the home price projection for New London, MN 56273?

What are the demographics of New London, MN 56273?

How long does it take homes to sell in New London, MN 56273?

What is the average rent price in New London, MN 56273?