Highland Apartments
901 N Highland Ave,
New Ulm, MN 56073
1-2 Beds | $1,265 - $1,545
Rental Market Trends in New Ulm, MN
Updated September 2026
The average rent in New Ulm, MN is $1,094/month.
Rent in New Ulm is 34% lower than the national average rent of $1,665/month, making this one of the less expensive cities statewide.
$1,094/month
Average Rent
693 Sq Ft
Average Size
+3.6%
Change / Year
30
Available Apartments
New Ulm rent varies by unit size and layout:
- Studio apartments in New Ulm average $1,040 per month.
- One-bedroom apartments in New Ulm average $1,094 per month.
- Two-bedroom apartments in New Ulm average $1,193 per month.
- Three-bedroom apartments in New Ulm average $1,061 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in New Ulm, MN?
In the past year, rent has increased by 3.6%, which averages out to $40 more per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in New Ulm, MN
September 2026
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
60%
$700 - $1,000/month
40%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in New Ulm?
Based on current rent prices, Oak Bluffs and Milford Heights" are the most affordable neighborhoods in New Ulm.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in New Ulm?
Based on current rent prices, Oak Bluffs and Milford Heights" are the most expensive neighborhoods in New Ulm.
Neighborhood
Average Rent
Average Sq Ft
Which New Ulm neighborhoods have the most rentals available?
The neighborhoods in New Ulm with the most apartments available are Oak Bluffs and Milford Heights" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in New Ulm, MN?
Because the average rent in New Ulm is $1,094, you’ll want to make about $3,646 per month or $43,752 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does New Ulm, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare New Ulm, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the New Ulm Area GuideStudio
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Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in New Ulm?
The average rent in New Ulm is $1,094 per month, which is 34.3% lower than the national average of $1,665.
Are rents going up or down in New Ulm?
Rents in New Ulm, MN are increasing, with prices up 3.6% year-over-year and $40 more per month.
What rent range is most common in New Ulm?
In New Ulm, MN, 60% of apartments fall between $700 - $1,000/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.