New York Mills, MN 56567 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

New York Mills, MN—56567

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$261,000

2.9% YoY Growth

Household Income

$69,900

25.2% YoY Growth

Days on Market

110

48.0% Longer YoY

Home Price Forecast

2.1%

Median Rent

$615

3.6% YoY Growth

1-Bed Rent

$615

9.7% YoY Growth

2-Bed Rent

$825

N/A

3-Bed Rent

N/A

Home Price Trends — New York Mills, MN

As of Nov '25, the median home price in New York Mills, MN is $261,000, with a year-over-year change of 2.9%. This indicates that home prices in New York Mills, MN are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$261,000	2.9%
Single Family	$264,000	3.1%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — New York Mills, MN

As of July '25, Rentcast reports the average rent in New York Mills, MN is $693, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in New York Mills, MN is 1-bedrooms: $649, 2-bedrooms: $825. The most common rental property sizes in New York Mills, MN are 1-bedroom and 2-bedroom, accounting for 32.7% and 29.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$615	$693
Studio Rent	N/A	N/A
1 Bed Rent	$615	$649
2 Bed Rent	$825	$825
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

Loading chart...

% of Rental Stock

Studio

16.0%

1 Bedroom

32.7%

2 Bedrooms

29.7%

3 Bedrooms

17.7%

4 Bedrooms

4.0%

Property Listings — New York Mills, MN

As of Nov '25, Realtor.com reports that the median days on market for a home in New York Mills, MN is 110. This is a increase of 48.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$329,000	5.0%
Listing Count	14	-6.0%
Listings as % of Homes	0.3%	-6.0%
Days on Market	110	48.0%

Loading chart...

Demographics — New York Mills, MN

As of the latest ACS Survey released in 2023, New York Mills, MN has a population of 3,250, which has decreased by -2.8% over the past 5 years. New York Mills, MN is a popular place for families, as children make up 25.4% of the population. The area has a poorly educated workforce, with 17.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	3,250	-2.8%
% Under 18	25.4%	-10.2%
% Seniors	20.8%	32.5%
% WFH	8.8%	83.3%
% w/ College Degree	17.8%	16.3%

Loading chart...

As of the latest ACS Survey released in 2023, New York Mills, MN is a predominantly white area, with 92.9% of the population identifying as white. The white population has shrunk by 4.4% in the last 5 years. The second most common race or ethnicity in New York Mills, MN is hispanic, making up 1.3% of the population. Foreign-born residents account for 1.2% of the population in New York Mills, MN, and this percentage has increased by 300.0% 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	92.9%	-4.4%
% Black	0.5%	-16.7%
% Hispanic	1.3%	85.7%
% Asian	0.0%	-100.0%
% Foreign Born	1.2%	300.0%

Loading chart...

Mortgage and Risk — New York Mills, MN

According to HUD data as of 2023, there were 49 mortgage originations in New York Mills, MN, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in New York Mills, MN. Investor activity is low, as 0.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	49
% Conventional Loans	76.0%
% Government Loans	24.0%
% Investor Loans	0.0%
% Second Loans	20.0%
% Cash Out Refinance	10.0%

Loading chart...

Rentals and Section 8 — New York Mills, MN

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

Section 8 Market Size

Total Units under HUD	70
Total Units Section 8	47
% Rentals under Section 8	N/A
% Occupied Section 8	87.4%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$95	$615	$710
2 Bedroom	$105	$825	$930
3 Bedroom	N/A	N/A	$1,290
4 Bedroom	N/A	N/A	$1,360

New York Mills, MN—56567

Key Metrics at a Glance

Home Price Trends — New York Mills, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New York Mills, MN

% of Rental Stock

Property Listings — New York Mills, MN

Demographics — New York Mills, MN

Race and Ethnicity

Mortgage and Risk — New York Mills, MN

Mortgages

Rentals and Section 8 — New York Mills, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — New York Mills, MN

Home Price to Income Ratio

New York Mills, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Bluffton, MN

Deer Creek, MN

Perham, MN

Ottertail, MN

Wadena, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.3
Median Home Price	$261,000
Median Household Income	$69,900

New York Mills, MN—56567

Key Metrics at a Glance

Home Price Trends — New York Mills, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — New York Mills, MN

% of Rental Stock

Property Listings — New York Mills, MN

Demographics — New York Mills, MN

Race and Ethnicity

Mortgage and Risk — New York Mills, MN

Mortgages

Rentals and Section 8 — New York Mills, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — New York Mills, MN

Home Price to Income Ratio

New York Mills, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Bluffton, MN

Deer Creek, MN

Perham, MN

Ottertail, MN

Wadena, MN

Frequently Asked Questions

What is the average home price in New York Mills, MN 56567?

How have home prices in New York Mills, MN 56567 changed over the past year?

What is the home price projection for New York Mills, MN 56567?

What are the demographics of New York Mills, MN 56567?

How long does it take homes to sell in New York Mills, MN 56567?

What is the average rent price in New York Mills, MN 56567?