Much like its nearby areas, it's a lot less expensive compared to the entire country. Compared to the city of Minneapolis, it is a lot less expensive.
Home prices
The median home cost in New Richland is $97,000. Compared to the surrounding areas this is approximately $3,240 (3%) higher.Compared to the rest of the nation it is approximately $120,500 (55%) lower, and in comparison to the city of Minneapolis is approximately $154,600 (61%) lower.
Rents
In New Richland the median rent is $494 per month. Compared to other places in this area it is roughly $149 (23%) lower.It is roughly $568 (53%) lower in comparison to the nation as a whole, and it is approximately $533 (51%) lower in comparison to the city of Minneapolis.
Nearby places
Hartland
Hartland is approximately 5 miles south of New Richland. The real estate prices there are somewhat less expensive. Hartland's median home price is $80,000, which is $17,000 (21%) lower than New Richland. Rent there is a bit less expensive. The median monthly rent in Hartland is $447, which is $47 (10%) lower than New Richland.
Ellendale
Ellendale is about 8 miles east from New Richland. The real estate prices there are a bit more expensive. The median home in Ellendale costs $109,900, which works out to $12,900 (11%) higher than New Richland. Rents there are substantially more expensive. Ellendale's median rent is $787 per month, which comes out to $293 (37%) higher than New Richland.
Freeborn
Freeborn is roughly 8 miles south from New Richland. Its housing prices are a lot less expensive. The median home in Freeborn costs $55,900, which comes out to $41,100 (73%) lower than New Richland. The rent there is a lot more expensive. Freeborn's median rent is $760 a month, which works out to $266 (35%) higher than New Richland.
Waldorf
Waldorf is about 8 miles west of New Richland. Real estate prices there are somewhat less expensive. Waldorf's median home price is $83,300, which is $13,700 (16%) lower than New Richland. The rent there is a bit more expensive. In Waldorf the median monthly rent is $680, which comes out to $186 (27%) higher than New Richland.
Geneva
Geneva is roughly 10 miles southeast from New Richland. The real estate prices there are somewhat more expensive. The price of the median home in Geneva is $139,700, which is $42,700 (30%) higher than New Richland. Rents there are a bit more expensive. In Geneva the median rent is $541 a month, which works out to $47 (8%) higher than New Richland.
