New Ulm, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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New Ulm, MN Real Estate Data


New Ulm Housing Market Information

With 13,327 people, 5,824 houses or apartments, and a median cost of homes of $140,562, 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 72.77% of the city's housing units. Other types of housing that are prevalent in New Ulm include large apartment complexes or high rise apartments ( 14.23%), duplexes, homes converted to apartments or other small apartment buildings ( 5.54%), and a few mobile homes or trailers ( 5.27%).

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 68.33% of New Ulm's homes, and 55.75% 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 ( 31.81%). A lesser amount of the housing stock also hails from before 1939 ( 29.10%). There's also some housing in New Ulm built between 2000 and later ( 6.39%).

New Ulm Home Appreciation Rates

Appreciation rates for homes in New Ulm have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.28%, which ranks in the top 50% nationwide. This equates to an annual average New Ulm house appreciation rate of 0.42%.

NeighborhoodScout's data show that during the latest twelve months, New Ulm's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, New Ulm's appreciation rate has been 1.73%, which annualizes to a rate of 7.09%.

Relative to Minnesota, our data show that New Ulm's latest annual appreciation rate is lower than 50% 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:
$140,562

New Ulm, MN HOME PRICES

Value Range
> $1,113,000 0.7
$835,001 - $1,113,000 0.0
$556,001 - $835,000 0.4
$445,001 - $556,000 0.8
$334,001 - $445,000 2.5
$222,001 - $334,000 10.8
$111,001 - $222,000 50.8
$56,001 - $111,000 24.4
$0 - $56,000 9.5

Low for MN
Average for Nation

Value Relative to Nation Value Relative to State
55.4078585231598 74.1273100616016

Number Of Homes And Apartments:
5,824

Rent & Ownership

 

Average Market Rent:
$726 / per month

Homeownership Rate

Homeownership
Owners 68.33
Renters 31.67
Vacant 5.04

Housing Market Details

 

Age of Homes

AGE OF New Ulm HOMES
2000 or Newer 6.4
1970 - 1999 32.7
1940 - 1969 31.8
1939 or Older 29.1

Types of Homes

TYPE OF New Ulm HOMES
Single-Family 72.8
Townhomes 2.2
Small Apt. Buildings 5.5
Apt. Complexes 14.2
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF New Ulm HOMES
No Bedroom 1.29
1 Bedroom 8.82
2 Bedrooms 30.54
3 Bedrooms 35.41
4 Bedrooms 20.33
5 or more bedrooms 3.60

New Ulm Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
30.47% 1.58% 3 3
* 10 is highest