Market Overview
Home Prices in New Prague, MN
The median home value in New Prague, MN is $360,434 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.9% compared to a year ago and up 2.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in New Prague are priced12% below average. New Prague is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, New Prague home values have risen by approximately16.8%, reflecting steady appreciation in this market.
Price History
New Prague Home Price Trend
City Comparison
New Prague vs. National Median
At $360,434, homes in New Prague cost 12% below the national median of $410,000. This makes New Prague a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in New Prague?
20% Down Payment
$72,087
on $360,434
Monthly P&I
$1,880/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,388/mo
incl. taxes & insurance
Income Needed
$95,520
gross annual (30% rule)
10% Down Option
$36,043
+ PMI applies
Loan Amount (20% dn)
$288,347
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in New Prague, MN?
The median home value in New Prague is $360,434 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.9% year-over-year.
How much have home prices changed in New Prague?
Over the past year, home values in New Prague have increased by 1.9%. Over five years, prices have risen approximately 16.8%.
How much do I need to earn to buy a home in New Prague?
To comfortably afford the median home price of $360,434 with a 20% down payment ($72,087) at today's rates (6.8%), you'd need a gross annual income of approximately $95,520. This assumes keeping total housing costs at or below 30% of gross income.
How does New Prague compare to the national average home price?
The national median home value is approximately $410,000. At $360,434, homes in New Prague are 12% below the national average.
What metro area is New Prague part of?
New Prague is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.