New Ulm, MN
Population 14,066 · Minnesota
About New Ulm, MN
New Ulm is a mid-sized city located in Minnesota with a population of 14,066 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,984 per year, which is 15% below the national median of $75,149. The median age of 40.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Ulm features a median home value of $192,700, which is 21% below the national median of $244,900. This positions New Ulm in a moderately priced market relative to the rest of the country. Median monthly rent is $974, 16% below the national average of $1,163/month. Of the 6,306 total housing units, 75% are owner-occupied (4,467 units) and 25% are renter-occupied (1,521 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Ulm shows an unemployment rate of 2.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Ulm have an average one-way commute time of 12.5 minutes, one of the shorter commutes in the region.
Education & Demographics
27.2% of New Ulm 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 2.8% White, 0.7% Hispanic or Latino, 0.4% Black or African American, and 0.8% Asian residents, with 2.7% of the population being foreign-born.
Cost of Living in New Ulm, MN
Compared to national averages, New Ulm has a median household income of $63,984 (15% below the national median of $75,149). Home values average $192,700, which is 21% below the national median. Monthly rent at $974 is 16% below the US average of $1,163. Within Minnesota, New Ulm's income is 14% below the state average of $74,221, and home values are 6% below the state median of $204,472.
Why Live in New Ulm, MN?
New Ulm offers affordable housing with a median home value of $192,700, below the US average of $244,900, and rent that’s lower than the national average at $974/month, and a strong job market with an unemployment rate of just 2.5%. Additionally, the city features a low poverty rate of 8.7%, better than the national average, and short commute times averaging just 12.5 minutes.
Potential considerations include median household income ($63,984) that falls below the national average. However, New Ulm’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Ulm has a population of 14,066 with a median age of 40.3 years. Compare New Ulm with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near New Ulm
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Fergus Falls | 14,138 | $50,865 | $173,300 | Compare |
| North Mankato | 14,212 | $77,571 | $252,700 | Compare |
| Marshall | 13,880 | $64,636 | $198,900 | Compare |
| Sauk Rapids | 13,851 | $67,004 | $240,200 | Compare |
| Robbinsdale | 14,318 | $84,719 | $280,400 | Compare |
| Worthington | 13,792 | $61,840 | $184,200 | Compare |
| Brainerd | 14,474 | $53,705 | $178,600 | Compare |
| Alexandria | 14,579 | $61,558 | $247,200 | 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 Ulm With Other Cities
Frequently Asked Questions about New Ulm
What is the population of New Ulm, MN?
The population of New Ulm, MN is 14,066 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Minnesota.
What is the median household income in New Ulm?
The median household income in New Ulm, MN is $63,984 per year, which is 15% below the national median of $75,149.
What is the median home value in New Ulm?
The median home value in New Ulm, MN is $192,700, which is 21% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Ulm?
The median monthly rent in New Ulm, MN is $974, which is 16% below the national average of $1,163/month.
What is the unemployment rate in New Ulm?
The unemployment rate in New Ulm, MN is 2.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Ulm, MN a good place to live?
New Ulm offers a moderate cost of living, affordable housing, and a strong job market. With a population of 14,066 and a median age of 40.3, the city appeals to a broad range of residents.
How educated is New Ulm, MN?
27.2% of residents in New Ulm 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 Ulm?
Key cost-of-living indicators for New Ulm, MN: median home value is $192,700 (21% below national), median rent is $974/month, and median household income is $63,984. The home-value-to-income ratio is 3.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Ulm?
The poverty rate in New Ulm, MN is 8.7%, 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 Ulm, MN?
New Ulm's population is 2.8% White, 0.7% Hispanic or Latino, 0.4% Black or African American, 0.8% Asian, and 0.7% two or more races. 2.7% of residents are foreign-born.