New Ulm, MN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In New Ulm, MN Summary

Cost of living in New Ulm research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means New Ulm is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Minnesota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in New Ulm is 91, with 100 being the average.

  • The cost of living index in New Ulm is 0.9x lower than the national average.

  • New Ulm ranks as the #15 cheapest in Minnesota out of 147.

  • New Ulm ranks as the #1,804 cheapest out of 6,412 in the US.

  • The median home value in New Ulm is $149,300.

  • The median income in New Ulm is $60,723.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
91
New Ulm's Overall Cost Of Living
0.9x
Lower Than The National Average

What is the cost of living in New Ulm, MN?

According to the most recent data on the cost of living, New Ulm has an overall cost of living index of 91, which is 0.9x lower than the national index of 100.

Compared to Minnesota, New Ulm has a cost of living index that's 1.0x lower than Minnesota's index of 95.

The standard of living in New Ulm ranks as #15 most affordable out of the 147 places we measured in Minnesota. By definition, that implies New Ulm ranks as the #132 most expensive place in the North Star State.

For more reading on life in New Ulm, check out:

15 out of 147
In Minnesota
1,804 out of 6,412
In America

New Ulm Cost Of Living Vs. Minnesota

Six factors go into calculating the cost of living index in New Ulm. Here is how it fairs on each of the criteria:

  • The Services index in New Ulm is 94.

  • The Groceries index in New Ulm is 100.

  • The Health index in New Ulm is 122.

  • The Housing index in New Ulm is 69.

  • The Transportation index in New Ulm is 100.

  • The Utilities index in New Ulm is 96.

Living Expense New Ulm Minnesota National Average
Overall 91 95 100
Services 94 101 100
Groceries 100 98 100
Health 122 111 100
Housing 69 83 100
Transportation 100 98 100
Utilities 96 95 100
For more reading on cost of living around Minnesota, check out:
New Ulm Cost of Living Vs. MN

New Ulm, MN Housing Cost Breakdown

Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in New Ulm is $149,300.

  • The Median Rent in New Ulm is $833.

  • The Median Income in New Ulm is $60,723.

  • The Home Value To Income in New Ulm is 2.5x.

  • The Rent To Monthly Income in New Ulm is 0.16x.

Statistic New Ulm Minnesota United States
Median Home Value $149,300 $250,200 $244,900
Median Rent $833 $1,081 $1,163
Median Income $60,723 $77,706 $69,021
Home Value To Income 2.5x 3.2x 3.5x
Rent To Monthly Income 0.16x 0.17x 0.2x
Search Homes For Sale In New Ulm, MN
$149,300
Median Home Value
$833
Median Rent
$60,723
Median Income

New Ulm, MN Costs By Category

Detailed New Ulm Services Costs Vs. Minnesota

Item New Ulm Minnesota
Shampoo $0.92 $1.06
Movie $8.83 $10.68
Bowling $9.17 $14.67
Haircut $21.16 $18.62
Beauty Salon $30.55 $39.05

Detailed New Ulm Groceries Costs Vs. Minnesota

Item New Ulm Minnesota
Ground Beef $4.86 $4.22
Fried Chicken $1.64 $1.39
Milk $2.14 $2.05
Potatoes $3.84 $3.29
Pizza $11.66 $10.62
Beer $8.98 $9.38
Toothpaste $2.27 $2.34

Detailed New Ulm Health Costs Vs. Minnesota

Item New Ulm Minnesota
Optometrist $125.17 $108.57
Doctor $204.33 $116.17
Dentist $101.0 $99.13

Detailed New Ulm Transportation Costs Vs. Minnesota

Item New Ulm Minnesota
Gasoline $2.2 $2.22
Tire Balancing $47.72 $50.07

Detailed New Ulm Utilities Costs Vs. Minnesota

Item New Ulm Minnesota
All Electricity $157.58 $167.67
Phone $182.1 $175.64

New Ulm SnackAbility

8.5
/10
Overall SnackAbility
Jobs
8/10
Housing
6
Affordability
8.5
Diversity
5
Safety
8.5
Amenities
8
Education
8
Commute
10

Cost Of Living In Cities Around New Ulm

The cost of living varies in the cities and towns around New Ulm. Here's a quick look at the cost of living in the most populous nearby places:

  • Mankato, MN has a cost of living index of 95, 1.0x New Ulm.

  • Hutchinson, MN has a cost of living index of 101, 1.1x New Ulm.

  • North Mankato, MN has a cost of living index of 96, 1.1x New Ulm.

City Population Cost Of Living Vs. New Ulm
Mankato, MN 43,938 95 1.0x
Hutchinson, MN 14,504 101 1.1x
North Mankato, MN 14,356 96 1.1x
Waconia, MN 12,773 111 1.2x
St. Peter, MN 11,699 97 1.1x
Fairmont, MN 10,465 89 1.0x
New Prague, MN 8,060 106 1.2x
Belle Plaine, MN 7,293 97 1.1x
Jordan, MN 6,560 108 1.2x
Glencoe, MN 5,708 91 1.0x

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