Market Overview
Home Prices in New York Mills, MN
The median home value in New York Mills, MN is $281,436 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.7% compared to a year ago and up 3.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in New York Mills are priced31% below average. New York Mills is part of the Fergus Falls, MN metro area.
Over the past five years, New York Mills home values have risen by approximately32.6%, reflecting strong long-term appreciation in this market.
Price History
New York Mills Home Price Trend
City Comparison
New York Mills vs. National Median
At $281,436, homes in New York Mills cost 31% below the national median of $410,000. This makes New York Mills a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in New York Mills?
20% Down Payment
$56,287
on $281,436
Monthly P&I
$1,468/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,864/mo
incl. taxes & insurance
Income Needed
$74,560
gross annual (30% rule)
10% Down Option
$28,144
+ PMI applies
Loan Amount (20% dn)
$225,149
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 York Mills, MN?
The median home value in New York Mills is $281,436 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.7% year-over-year.
How much have home prices changed in New York Mills?
Over the past year, home values in New York Mills have increased by 6.7%. Over five years, prices have risen approximately 32.6%.
How much do I need to earn to buy a home in New York Mills?
To comfortably afford the median home price of $281,436 with a 20% down payment ($56,287) at today's rates (6.8%), you'd need a gross annual income of approximately $74,560. This assumes keeping total housing costs at or below 30% of gross income.
How does New York Mills compare to the national average home price?
The national median home value is approximately $410,000. At $281,436, homes in New York Mills are 31% below the national average.
What metro area is New York Mills part of?
New York Mills is part of the Fergus Falls, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.