Living in New Ulm, Minnesota
Cost of living, income, home prices, rent and demographics of New Ulm · Census data 2020–2024
New Ulm has 14,056 residents with a median age of 39.3. The median household income is $64,449 (28% lower than the Minnesota median), the median home value is $204,200, the median rent is $962/month.
New Ulm at a glance
- Population
- 14,056
- Median age
- 39.3State: 38.8
- Median household income
- $64,449State: $89,062
- Median home value
- $204,200State: $329,300
- Median rent
- $962/moState: $1,280
- Homeowners
- 75.1%
- Bachelor's degree or higher
- 27.9%
- Average commute
- 12 min
Is New Ulm a good place to live?
Pros: Home values 38% lower than the state median; an average commute of 12 minutes; unemployment of 3%; a poverty rate of 9.2%.
Cons: Median household income 28% lower than the Minnesota median.
The weather is best in June to September.
Cost of living in New Ulm
Housing is the biggest part of the cost of living. In New Ulm the median home value is $204,200, 39% lower than the U.S. median. Renters pay a median of $962 per month, which is 28.4% of household income. Homeowners with a mortgage pay $1,398 a month in housing costs.
New Ulm median household income
The median household income in New Ulm is $64,449 and the income per person is $35,978. 9.2% of residents live below the poverty line (Minnesota: 9.3%).
Housing in New Ulm: homes for sale and rent
- Housing units
- 6,377
- Owner-occupied
- 75.1%
- Renter-occupied
- 24.9%
- Vacant
- 4.6%Includes seasonal homes
- Median year built
- 1966
- Average household size
- 2.15
New Ulm demographics
- Population
- 14,056
- Median age
- 39.3
- Under 18
- 21.4%
- 65 and older
- 20.4%
- Households
- 6,081
- Foreign-born
- 2.4%
- Veterans
- 4.5%Adults 18+
Hispanic or Latino can be of any race. Population history of New Ulm ›
Education in New Ulm
27.9% of adults 25 and older in New Ulm have a bachelor's degree or higher (Minnesota: 39.4%), and 10.8% have a graduate or professional degree.
Jobs and commute in New Ulm
- Unemployment rate
- 3%State: 4.1%
- Average commute
- 12 minState: 23 min
- Work from home
- 5.6%
- Drive alone
- 79.6%
- Public transit
- 0.7%
- Walk to work
- 5.6%
- Homes with broadband
- 86.1%
New Ulm vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| New Ulm | 14,056 | $64,449 | $204,200 | $962 |
| Searles | 201 | $80,625 | $191,100 | — |
| Courtland | 770 | $99,028 | $275,600 | $1,066 |
| Lafayette | 484 | $88,750 | $155,800 | $980 |
| Hanska | 380 | $70,000 | $89,500 | — |
| Sleepy Eye | 3,444 | $66,911 | $147,600 | $782 |
| Nicollet | 957 | $84,643 | $239,700 | $855 |
| Gibbon | 918 | $55,278 | $102,700 | $950 |
| Winthrop | 1,381 | $69,219 | $169,600 | $776 |
More for people moving to New Ulm
New Ulm ZIP code ›Weather and climate ›Living in New Ulm: FAQ
What is the median household income in New Ulm, MN?
The median household income in New Ulm is $64,449, 28% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in New Ulm?
The median home value in New Ulm is $204,200, compared with $329,300 in Minnesota.
How much is rent in New Ulm?
The median gross rent in New Ulm is $962 per month, about 28.4% of household income.
Is New Ulm, MN a good place to live?
Pluses: home values 38% lower than the state median; an average commute of 12 minutes; unemployment of 3%; a poverty rate of 9.2%. Minuses: median household income 28% lower than the Minnesota median.
What is the median age in New Ulm?
The median age in New Ulm is 39.3 years (Minnesota: 38.8).
How long is the commute in New Ulm?
The average commute to work in New Ulm is 12 minutes; 5.6% of workers work from home.
What is the unemployment rate in New Ulm?
The unemployment rate in New Ulm is 3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is New Ulm?
27.9% of adults in New Ulm have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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