menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



New Ulm, MN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

New Ulm, MN Housing Market Trends

With a population of 14,035, 5,883 total housing units (homes and apartments), and a median house value of $224,198, house prices in New Ulm are solidly below the national average.

Single-family detached homes are the single most common housing type in New Ulm, accounting for 74.19% of the city's housing units. Other types of housing that are prevalent in New Ulm include large apartment complexes or high rise apartments ( 14.04%), duplexes, homes converted to apartments or other small apartment buildings ( 6.61%), and a few row houses and other attached homes ( 2.72%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Ulm. Owner-occupied housing accounts for 68.35% of New Ulm's homes, and 54.95% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in New Ulm built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in New Ulm built between 1940-1969 ( 29.15%). A lesser amount of the housing stock also hails from before 1939 ( 25.71%). There's also some housing in New Ulm built between 2000 and later ( 11.36%).

New Ulm Home Appreciation Rates

New Ulm's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Ulm during the period has been just 4.48%, which is lower than 80% of US communities.

Over the last year, New Ulm appreciation rates have trailed the rest of the nation. In the last twelve months, New Ulm's appreciation rate has been 2.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Ulm were at 3.08%, which equates to an annual appreciation rate of 12.89%.

Relative to Minnesota, our data show that New Ulm's latest annual appreciation rate is lower than 70% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within New Ulm differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Ulm - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best New Ulm real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$224,198

New Ulm, MN Home Prices
> $1,292,000
$968,001 - $1,292,000
$646,001 - $968,000
$517,001 - $646,000
$387,001 - $517,000
$258,001 - $387,000
$129,001 - $258,000
$65,001 - $129,000
$0 - $65,000
0.3%
0.3%
0.6%
0.6%
1.6%
1.6%
4.0%
4.0%
4.9%
4.9%
15.3%
15.3%
54.1%
54.1%
12.6%
12.6%
6.5%
6.5%
0% 100.0%
% of Homes
Low

for Minnesota

Average

for nation

Number of Homes And Apartments:

5,883

New Ulm Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,763 / per month

Homeownership Rate

Owners
Renters
Vacant
68.3%
68.3%
31.7%
31.7%
6.3%
6.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.4%
11.4%
33.8%
33.8%
29.2%
29.2%
25.7%
25.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.2%
74.2%
2.7%
2.7%
6.6%
6.6%
14.0%
14.0%
2.4%
2.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.0%
1.0%
9.5%
9.5%
26.5%
26.5%
37.2%
37.2%
17.8%
17.8%
8.0%
8.0%
0% 100.0%
% of Homes