New Prague, MN
Population 8,195 · Minnesota
About New Prague, MN
New Prague is a small town located in Minnesota with a population of 8,195 residents according to the latest US Census Bureau American Community Survey data. The median household income is $98,424 per year, which is 31% above the national median of $75,149. The median age of 34.4 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in New Prague features a median home value of $323,500, which is 32% above the national median of $244,900. This positions New Prague in a moderately priced market relative to the rest of the country. Median monthly rent is $1,198, 3% above the national average of $1,163/month. Of the 3,095 total housing units, 77% are owner-occupied (2,302 units) and 23% are renter-occupied (673 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Prague shows an unemployment rate of 3.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Prague have an average one-way commute time of 24.7 minutes.
Education & Demographics
31.5% of New Prague residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.5% White, 0.2% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 2.5% of the population being foreign-born.
Cost of Living in New Prague, MN
Compared to national averages, New Prague has a median household income of $98,424 (31% above the national median of $75,149). Home values average $323,500, which is 32% above the national median. Monthly rent at $1,198 is 3% above the US average of $1,163. Within Minnesota, New Prague's income is 33% above the state average of $74,221, and home values are 58% above the state median of $204,472.
Why Live in New Prague, MN?
New Prague offers a strong local economy with a median household income of $98,424, well above the national average, and a strong job market with an unemployment rate of just 3.1%, and a low poverty rate of 3.1%, better than the national average. Additionally, the city features short commute times averaging just 24.7 minutes.
New Prague has a population of 8,195 with a median age of 34.4 years. Compare New Prague with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near New Prague
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Orono | 8,205 | $181,875 | $952,400 | Compare |
| St. Francis | 8,279 | $101,875 | $297,800 | Compare |
| Mahtomedi | 8,108 | $132,326 | $466,100 | Compare |
| Albertville | 8,066 | $126,307 | $326,400 | Compare |
| Wyoming | 8,063 | $101,938 | $328,900 | Compare |
| Waite Park | 8,341 | $56,884 | $217,000 | Compare |
| Virginia | 8,362 | $48,321 | $117,500 | Compare |
| Dayton | 8,381 | $137,383 | $510,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Prague With Other Cities
Frequently Asked Questions about New Prague
What is the population of New Prague, MN?
The population of New Prague, MN is 8,195 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in New Prague?
The median household income in New Prague, MN is $98,424 per year, which is 31% above the national median of $75,149.
What is the median home value in New Prague?
The median home value in New Prague, MN is $323,500, which is 32% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Prague?
The median monthly rent in New Prague, MN is $1,198, which is 3% above the national average of $1,163/month.
What is the unemployment rate in New Prague?
The unemployment rate in New Prague, MN is 3.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Prague, MN a good place to live?
New Prague offers above-average incomes, a competitive housing market, and a strong job market. With a population of 8,195 and a median age of 34.4, the city appeals to young professionals and families.
How educated is New Prague, MN?
31.5% of residents in New Prague aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Prague?
Key cost-of-living indicators for New Prague, MN: median home value is $323,500 (32% above national), median rent is $1,198/month, and median household income is $98,424. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Prague?
The poverty rate in New Prague, MN is 3.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Prague, MN?
New Prague's population is 1.5% White, 0.2% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 2.5% of residents are foreign-born.