New Richland, MN
Population 1,068 · Minnesota
About New Richland, MN
New Richland is a small town located in Minnesota with a population of 1,068 residents according to the latest US Census Bureau American Community Survey data. The median household income is $62,841 per year, which is 16% below the national median of $75,149. The median age of 40.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Richland features a median home value of $133,000, which is 46% below the national median of $244,900. This makes New Richland one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $544, 53% below the national average of $1,163/month. Of the 453 total housing units, 86% are owner-occupied (361 units) and 14% are renter-occupied (57 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Richland shows an unemployment rate of 2.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Richland have an average one-way commute time of 26.3 minutes.
Education & Demographics
15.1% of New Richland residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 1.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.3% of the population being foreign-born.
How New Richland Ranks in Minnesota
Cost of Living in New Richland, MN
Compared to national averages, New Richland has a median household income of $62,841 (16% below the national median of $75,149). Home values average $133,000, which is 46% below the national median. Monthly rent at $544 is 53% below the US average of $1,163. Within Minnesota, New Richland's income is 15% below the state average of $74,221, and home values are 35% below the state median of $204,472.
Why Live in New Richland, MN?
New Richland offers affordable housing with a median home value of $133,000, below the US average of $244,900, and rent that’s lower than the national average at $544/month, and a strong job market with an unemployment rate of just 2.0%. Additionally, the city features a low poverty rate of 5.7%, better than the national average.
Potential considerations include median household income ($62,841) that falls below the national average. However, New Richland’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Richland has a population of 1,068 with a median age of 40.9 years. Compare New Richland with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near New Richland
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Little Rock | 1,075 | $51,719 | $34,100 | Compare |
| Eden Valley | 1,077 | $62,188 | $150,800 | Compare |
| Hilltop | 1,056 | $47,708 | $24,600 | Compare |
| Scanlon | 1,087 | $75,833 | $221,500 | Compare |
| Harmony | 1,089 | $65,536 | $154,800 | Compare |
| Parkers Prairie | 1,089 | $58,750 | $152,500 | Compare |
| Royalton | 1,092 | $64,643 | $201,500 | Compare |
| Nashwauk | 1,035 | $58,533 | $102,400 | 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 Richland With Other Cities
Frequently Asked Questions about New Richland
What is the population of New Richland, MN?
The population of New Richland, MN is 1,068 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 Richland?
The median household income in New Richland, MN is $62,841 per year, which is 16% below the national median of $75,149.
What is the median home value in New Richland?
The median home value in New Richland, MN is $133,000, which is 46% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Richland?
The median monthly rent in New Richland, MN is $544, which is 53% below the national average of $1,163/month.
What is the unemployment rate in New Richland?
The unemployment rate in New Richland, MN is 2.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Richland, MN a good place to live?
New Richland offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,068 and a median age of 40.9, the city appeals to a broad range of residents.
How educated is New Richland, MN?
15.1% of residents in New Richland 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 Richland?
Key cost-of-living indicators for New Richland, MN: median home value is $133,000 (46% below national), median rent is $544/month, and median household income is $62,841. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Richland?
The poverty rate in New Richland, MN is 5.7%, 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 Richland, MN?
New Richland's population is 0.0% White, 1.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.5% two or more races. 0.3% of residents are foreign-born.