New Ulm, MN Real Estate
According to census data in the year 2000 there were 5,729 housing units in New Ulm.
This represents a 6.5% growth from 5,379 in 1990.
Of those housing units, 5,644 were located in either urbanized areas or urban clusters, and 85 were located in what is classified as a rural area.
Homeownership rate in New Ulm is about 77.1%.
New Ulm's vacancy rate, including seasonal lodging, is about 4.2%.
Average household size is 2.31 people.
The majority of houses, apartments or condos in New Ulm were built after 1959.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.30% |
| One Bedroom | 10% |
| Two Bedrooms | 25.10% |
| Three Bedrooms | 41.30% |
| Four Bedrooms | 19.80% |
| Five Bedrooms or more | 2.50% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.52 |
| Median year structure was built | 1957 |
| Median Value of occupied units | $89,600 |
| Median Price asked for vacant units | $72,700 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.58 |
| Median year structure was built | 1969 |
| Median Monthly Rent asked for vacant units | $321 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 7% |
| Home Equity Loan | 6.80% |
| Simple Mortgage | 47.20% |
| Debt Free | 39% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.1% |
