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 94, which is 0.9x lower than the national index of 100.
Compared to Minnesota, New Ulm has a cost of living index that's 0.9x lower than Minnesota's index of 101.
The standard of living in New Ulm ranks as #17 most affordable out of the 151 places we measured in Minnesota. By definition, that implies New Ulm ranks as the #134 most expensive place in the North Star State.
For more reading on life in New Ulm, check out:
New Ulm Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in New Ulm. Here is how it fares on each of the criteria:
The Services index in New Ulm is 101.
The Groceries index in New Ulm is 100.
The Health index in New Ulm is 80.
The Housing index in New Ulm is 97.
The Transportation index in New Ulm is 104.
The Utilities index in New Ulm is 100.
| Living Expense | New Ulm | Minnesota | National Average |
|---|---|---|---|
| Overall | 94 | 101 | 100 |
| Services | 101 | 101 | 100 |
| Groceries | 100 | 99 | 100 |
| Health | 80 | 99 | 100 |
| Housing | 97 | 101 | 100 |
| Transportation | 104 | 103 | 100 |
| Utilities | 100 | 101 | 100 |
New Ulm Cost Of Living Compared To Minnesota Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Minnesota, check out:
Protect your home budget Compare home warranties in New Ulm Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
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 2020-2024. The key points are:
The Median Home Value in New Ulm is $244,182.
The Median Rent in New Ulm is $962.
The Median Income in New Ulm is $64,449.
The Home Value To Income in New Ulm is 3.8x.
The Rent To Monthly Income in New Ulm is 0.18x.
New Ulm, MN Costs By Category
Detailed New Ulm Services costs vs. Minnesota
Detailed New Ulm Groceries costs vs. Minnesota
Detailed New Ulm Health costs vs. Minnesota
Detailed New Ulm Transportation costs vs. Minnesota
New Ulm SnackAbility
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 99, 1.1x New Ulm.
Hutchinson, MN has a cost of living index of 92, 1.0x New Ulm.
North Mankato, MN has a cost of living index of 104, 1.1x New Ulm.
| City | Population | Cost Of Living | Vs. New Ulm |
|---|---|---|---|
| Mankato, MN | 45,473 | 99 | 1.1x |
| Hutchinson, MN | 14,680 | 92 | 1.0x |
| North Mankato, MN | 14,211 | 104 | 1.1x |
| Waconia, MN | 13,434 | 114 | 1.2x |
| St. Peter, MN | 12,185 | 97 | 1.0x |
| Fairmont, MN | 10,296 | 94 | 1.0x |
| New Prague, MN | 8,237 | 109 | 1.2x |
| Belle Plaine, MN | 7,423 | 102 | 1.1x |
| Jordan, MN | 6,771 | 110 | 1.2x |
| Glencoe, MN | 5,695 | 96 | 1.0x |
