Market Overview
Home Prices in New Richmond, WI
The median home value in New Richmond, WI is $383,761 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.2% compared to a year ago and up 2.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in New Richmond are priced6% below average. New Richmond is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, New Richmond home values have risen by approximately18.6%, reflecting steady appreciation in this market.
Price History
New Richmond Home Price Trend
City Comparison
New Richmond vs. National Median
At $383,761, homes in New Richmond cost 6% below the national median of $410,000. This makes New Richmond a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in New Richmond?
20% Down Payment
$76,752
on $383,761
Monthly P&I
$2,001/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,541/mo
incl. taxes & insurance
Income Needed
$101,640
gross annual (30% rule)
10% Down Option
$38,376
+ PMI applies
Loan Amount (20% dn)
$307,009
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 Richmond, WI?
The median home value in New Richmond is $383,761 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.2% year-over-year.
How much have home prices changed in New Richmond?
Over the past year, home values in New Richmond have increased by 0.2%. Over five years, prices have risen approximately 18.6%.
How much do I need to earn to buy a home in New Richmond?
To comfortably afford the median home price of $383,761 with a 20% down payment ($76,752) at today's rates (6.8%), you'd need a gross annual income of approximately $101,640. This assumes keeping total housing costs at or below 30% of gross income.
How does New Richmond compare to the national average home price?
The national median home value is approximately $410,000. At $383,761, homes in New Richmond are 6% below the national average.
What metro area is New Richmond part of?
New Richmond is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.