Market Overview
Home Prices in New Ulm, MN
The median home value in New Ulm, MN is $256,003 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.8% compared to a year ago and up 5.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in New Ulm are priced38% below average. New Ulm is part of the New Ulm, MN metro area.
Over the past five years, New Ulm home values have risen by approximately34.5%, reflecting strong long-term appreciation in this market.
Price History
New Ulm Home Price Trend
City Comparison
New Ulm vs. National Median
At $256,003, homes in New Ulm cost 38% below the national median of $410,000. This makes New Ulm a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in New Ulm?
20% Down Payment
$51,201
on $256,003
Monthly P&I
$1,335/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,695/mo
incl. taxes & insurance
Income Needed
$67,800
gross annual (30% rule)
10% Down Option
$25,600
+ PMI applies
Loan Amount (20% dn)
$204,802
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 Ulm, MN?
The median home value in New Ulm is $256,003 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.8% year-over-year.
How much have home prices changed in New Ulm?
Over the past year, home values in New Ulm have increased by 7.8%. Over five years, prices have risen approximately 34.5%.
How much do I need to earn to buy a home in New Ulm?
To comfortably afford the median home price of $256,003 with a 20% down payment ($51,201) at today's rates (6.8%), you'd need a gross annual income of approximately $67,800. This assumes keeping total housing costs at or below 30% of gross income.
How does New Ulm compare to the national average home price?
The national median home value is approximately $410,000. At $256,003, homes in New Ulm are 38% below the national average.
What metro area is New Ulm part of?
New Ulm is part of the New Ulm, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.