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New York Mills

Learn about the people, housing, costs and businesses in New York Mills, Minnesota

Median Home$238,100
Median Rent$747/month
Population1,310
Leading IndustriesInformation & Media · Transportation · Professional Services8% information & media
Home Value Growth⬆⬆⬆+24.3% over 2 years
Young Adults28% of residentsnear the national average
Homeowners80% of occupied units
NotableTransit83/100 · excellent transit access
New York Mills
MN

Frequently Asked Questions

What are today's mortgage rates in New York Mills?

As of today, the 30-year fixed mortgage rate for New York Mills is approximately 6.987% (7.026% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in New York Mills?

The median home value in New York Mills is $238k. The median monthly rent is $747. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New York Mills?

Home values in New York Mills have increased 24.3% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in New York Mills?

Based on a typical all-in ownership cost of $937/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $40k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New York Mills is $72k/year.

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What industries drive the economy in New York Mills?

The largest employment sectors in New York Mills are public administration (21%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.