New Munich Minnesota Area Home Supply Charts

This page looks at a variety of New Munich Minnesota housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. New Munich depicts it has a Housing Units of 128 which is in the mid range of other places in the local area.

Figure 2 illustrates the housing density in the New Munich housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) New Munich shows it has a Housing Density of 244.0 which is in the center range of other places in the local area. The city with the highest housing density in the area is Melrose which shows a density of 473.2 (about twice as large). Comparing housing density to the United States average of 38.9, New Munich is very much bigger. Also, in comparison with the state of Minnesota, housing density of 30.7, New Munich is substantially bigger.

In Figure 4, New Munich area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. New Munich shows it has a Housing Unit Change of -8.6% which is the second smallest when sorted by change in the housing units of all the other places in the area. The city with the highest change in the housing units in the area is Freeport which shows a housing units of 15.4% (79.2% larger). Comparing change in the housing units to the United States average of 5.7%, New Munich is 50.8% larger. Also, compared to the state of Minnesota, change in the housing units of 3.9%, New Munich is approximately 2.2 times bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) New Munich depicts it has a Renter Percent of 1.6% which is the second smallest in terms of renter percent of all the other places in the greater region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 98.4% which is the second most owner percent of all the places in the greater New Munich region.

New Munich Minnesota Home Cost Charts

Looking at the housing data provided in Figure 7, the average New Munich home price is illustrated for this community and a useful analysis of affordable housing. New Munich shows it has a Median Home Value of $119,300 which is in the mid point range of other places in the metro area. The city with the highest median home price in the area is Freeport which depicts a home price of $158,400 (32.8% larger).

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. New Munich has the percentage of home price worth less than $50,000 less than most other places in the greater region at 25% of the total.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. New Munich depicts it has a Median Owner Cost of $978 which is the largest of all places in the greater region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the New Munich metro area. it has a Owner Cost as % of HH Income of 21% which is the second most of all the places in the local area. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. New Munich depicts it has a Median Home Value as Percent of Median Earnings of 288% which is in the mid range of other places in the metropolitan area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) New Munich shows it has a Median Owner Costs-With Mortgage of $1,163 which is in the center range of other places in the metro area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $443 which is in the middle range of other places in the local area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. New Munich has the smallest proportion of owner cost less than $300 at 13% of the total. Second, it has the second smallest in order of owner cost less than $300 of all the other places in the greater region when ranked by owner cost between $300 and $500 at 9% of the total. Third, it has the largest proportion of owner cost between $700 and $1,000 at 32% of the total and is ranked #1. Also, it has the largest proportion of owner cost between $1,500 and $2,000 at 6% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) New Munich shows it has a % of Income Owner Costs-With Mortgage of 23% which is the third most of all other places in the surrounding region. The city with the highest cost as a percent of household income in the area is Spring Hill which depicts a cost as a percent of household income of 51% (approximately 2.2 times bigger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. New Munich depicts it has a % of Income Owner Costs-No Mortgage of 15% which is the third most cost as a percent of household income of all other places in the greater New Munich region. The city with the highest cost as a percent of household income in the area is Spring Hill which depicts a cost as a percent of household income of 22% (53.1% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) New Munich has the largest proportion of rent as a percent of income is between 10pct to 20pct at 50% of the total and is ranked #1.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. New Munich has the largest proportion of housing cost between $700 and $1,000 at 31% of the total and is ranked #1. Second, it has the largest proportion of housing cost between $1,500 and $2,000 at 6% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $1,319 which is in the middle range of other places in the surrounding region. The city with the highest median real estate taxes paid in the area is Albany which depicts a taxes paid of $1,875 (42.2% larger). Comparing median real estate taxes paid to the United States average of $2,471, New Munich is approximately half the size. Also, benchmarked against the state of Minnesota, median real estate taxes paid of $2,500, New Munich is approximately half the size.

Figure 23 shows the rental rate distribution for this area. New Munich Minnesota has one of the largest proportions of rent between 300 and 500 dollars at 50% of the total and is ranked #2. The only larger city being Spring Hill with 67%.

New Munich Minnesota Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. New Munich has the largest proportion of both 2nd mortgage and heloc at 58% of the total and is ranked #1. Second, it has the second smallest in terms of with mortgage of all the other places in the metro area when sorted by no 2nd mortgage and no heloc at 35% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. New Munich has the percentage of houses with mortgages the second smallest when ranked by houses with a mortgage of all the other places in the local area at 35% of the total.

New Munich Minnesota Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.2 which is in the mid range of other places in the greater region. The city with the highest family members per housing unit in the area is Melrose which depicts a family members per housing unit of 3.4 (only about 4.6% larger). Comparing family members per housing unit to the United States average of 3.3, New Munich is only about 3.3% smaller. Also, in comparison with the state of Minnesota, family members per housing unit of 3.1, New Munich is only slightly larger.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 7.5 which is more than all other places in the greater New Munich region. Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1954 which is the smallest as measured by year built of all the other places in the greater region. The city with the highest year built in the area is Albany which depicts a year built of 1983 ( only slightly larger).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the percentage of homes built between 2010 to 2013 in the mid range of other places in the local area at 16% of the total. Second, it has the second smallest when ranked by homes built in 2014 or later of all the other places in the surrounding region as measured by homes built between 2000 to 2009 at 5% of the total. Third, it has the smallest proportion of homes built between 1980 to 1989 at 5% of the total. Also, it has the smallest proportion of homes built between 1970 to 1979 at 5% of the total. In addition, it has the largest proportion of homes built between 1960 to 1969 at 14% of the total and is ranked #1. Furthermore, it has the largest proportion of homes built between 1940 to 1949 at 36% of the total and is ranked #1.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the percentage of owner housing units the second smallest in terms of owner-occupied housing units of all the other places in the metropolitan area at 2 of the total.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2010 to 2013 at $195,800 of the total and is ranked #3. Only #2 Spring Hill ($208,300), and #1 Meire Grove ($250,000) are larger. Second, it has one of the largest proportions of value of homes built 2000 to 2009 at $171,900 of the total and is ranked #3. Only #2 Albany ($176,800), and #1 Melrose ($198,100) are larger. Third, it has less than most other places in the surrounding region when ranked by value of homes built 1990 to 1999 at $128,100 of the total. Also, it has one of the largest proportions of value of homes built 1980 to 1989 at $162,500 of the total and is ranked #3. Only #2 Spring Hill ($168,800), and #1 Melrose ($173,300) are larger. In addition, it has in the mid range of other places in the local area in terms of value of homes built 1970 to 1979 at $95,000 of the total. Furthermore, it has in the mid range of other places in the metropolitan area as measured by value of homes built 1960 to 1969 at $94,200 of the total. Next it has in the center range of other places in the greater region in terms of value of homes built 1950 to 1959 at $85,000 of the total. Additionally, it has one of the largest proportions of value of homes built 1940 to 1949 at $110,600 of the total and is ranked #3. Only #2 Albany ($112,500), and #1 Freeport ($142,400) are larger.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for New Munich residents. it has a Owner-Household Size of 2.3 which is the second smallest in order of homeowner household size of all the other places in the surrounding region. The city with the highest homeowner household size in the area is Melrose which shows a homeowner household size of 2.8 (22.2% larger).

Figure 37 shows the household size for renters. New Munich depicts it has a Renter-Household Size of 3.5 which is the second most of all the places in the local area. The city with the highest renter household size in the area is Greenwald which depicts a renter household sizes of 7.0 (about twice as large). Figure 38 shows the year that people who own homes moved into this region. has the percentage of owners moved in 2017 or later in the middle range of other places in the greater region at 11% of the total. Figure 39 shows the year that people who rent moved into the area. New Munich has one of the largest proportions of renters moved in 2017 or later at 57% of the total and is ranked #3. Only #2 Freeport (65%), and #1 Greenwald (100%) are larger. Second, it has one of the largest proportions of renters moved in 2015 to 2016 at 43% of the total and is ranked #3. Only #2 Albany (50%), and #1 Spring Hill (100%) are larger.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2005 which is the third most median year that a home owner moved in of all other places in the greater New Munich region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has one of the largest proportions of homes using natural gas at 52% of the total and is ranked #2. The only larger city being Spring Hill with 64%. Second, it has the smallest proportion of home using bottled, tank, or lp gas at 11% of the total. Third, it has the largest proportion of home using electricity at 34% of the total and is ranked #1. Also, it has one of the largest proportions of homes using solar energy at 1% of the total and is ranked #3. Only #2 Meire Grove (2%), and #1 Freeport (3%) are larger.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the New Munich housing department, Minnesota department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. New Munich depicts it has a Total In Group Quarters of 18 which is the third most of all other places in the greater region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for New Munich residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) New Munich has the largest proportion of number of people under 18 years of age and in group quarters at 100% of the total and is ranked #1.