New Richmond, WI
Population 10,334 · Wisconsin
About New Richmond, WI
New Richmond is a mid-sized city located in Wisconsin with a population of 10,334 residents according to the latest US Census Bureau American Community Survey data. The median household income is $87,500 per year, which is 16% above the national median of $75,149. The median age of 37.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Richmond features a median home value of $269,000, which is 10% above the national median of $244,900. This positions New Richmond in a moderately priced market relative to the rest of the country. Median monthly rent is $1,070, 8% below the national average of $1,163/month. Of the 4,405 total housing units, 63% are owner-occupied (2,696 units) and 37% are renter-occupied (1,594 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in New Richmond shows an unemployment rate of 1.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 7.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Richmond have an average one-way commute time of 25.9 minutes.
Education & Demographics
33.1% of New Richmond 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 1.2% White, 1.9% Hispanic or Latino, 0.0% Black or African American, and 0.3% Asian residents, with 1.2% of the population being foreign-born.
Cost of Living in New Richmond, WI
Compared to national averages, New Richmond has a median household income of $87,500 (16% above the national median of $75,149). Home values average $269,000, which is 10% above the national median. Monthly rent at $1,070 is 8% below the US average of $1,163. Within Wisconsin, New Richmond's income is 21% above the state average of $72,579, and home values are 31% above the state median of $205,802.
Why Live in New Richmond, WI?
New Richmond offers a strong local economy with a median household income of $87,500, well above the national average, and rent that’s lower than the national average at $1,070/month, and a strong job market with an unemployment rate of just 1.7%. Additionally, the city features a low poverty rate of 7.8%, better than the national average.
New Richmond has a population of 10,334 with a median age of 37.6 years. Compare New Richmond with other cities to see how it stacks up, or explore all cities in Wisconsin.
Similar Cities Near New Richmond
Cities in Wisconsin with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Portage | 10,374 | $62,785 | $187,300 | Compare |
| Elkhorn | 10,259 | $73,052 | $255,300 | Compare |
| Hobart | 10,418 | $111,918 | $363,500 | Compare |
| Monroe | 10,568 | $67,621 | $184,400 | Compare |
| Reedsburg | 10,060 | $71,991 | $218,300 | Compare |
| Sparta | 9,921 | $60,517 | $168,800 | Compare |
| DeForest | 10,853 | $106,223 | $337,500 | Compare |
| Hartland | 9,716 | $87,297 | $358,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Wisconsin
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Richmond With Other Cities
Frequently Asked Questions about New Richmond
What is the population of New Richmond, WI?
The population of New Richmond, WI is 10,334 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Wisconsin.
What is the median household income in New Richmond?
The median household income in New Richmond, WI is $87,500 per year, which is 16% above the national median of $75,149.
What is the median home value in New Richmond?
The median home value in New Richmond, WI is $269,000, which is 10% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Richmond?
The median monthly rent in New Richmond, WI is $1,070, which is 8% below the national average of $1,163/month.
What is the unemployment rate in New Richmond?
The unemployment rate in New Richmond, WI is 1.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Richmond, WI a good place to live?
New Richmond offers above-average incomes, a competitive housing market, and a strong job market. With a population of 10,334 and a median age of 37.6, the city appeals to a broad range of residents.
How educated is New Richmond, WI?
33.1% of residents in New Richmond 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 Richmond?
Key cost-of-living indicators for New Richmond, WI: median home value is $269,000 (10% above national), median rent is $1,070/month, and median household income is $87,500. The home-value-to-income ratio is 3.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Richmond?
The poverty rate in New Richmond, WI is 7.8%, 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 Richmond, WI?
New Richmond's population is 1.2% White, 1.9% Hispanic or Latino, 0.0% Black or African American, 0.3% Asian, and 1.6% two or more races. 1.2% of residents are foreign-born.