New Brighton, Minnesota Housing Market Prices
New Brighton Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 11% above the Minnesota median$262,486
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Median rent 9% above the Minnesota median$1,396
Housing Market Overview
| Metric | New Brighton | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $262,486 | $236,718 | $248,835 |
| Price Trend (Annual %) | 18.6% | 6.6% | 7.5% |
| Median Gross Rent | $1,396 | $1,280 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 4.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in New Brighton is about 11% higher than in Minnesota. Rent is about 9% higher than the Minnesota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in New Brighton, up about 18.6% and 6.0% a year respectively. Home prices are changing faster.
Median rent in New Brighton rose about 64.1% between 2015 and 2024, from $851 to $1,396. Over the same span, rent in Minnesota rose about 51.1%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in New Brighton.
Buying the median-priced home in New Brighton costs roughly 15.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in New Brighton. The price-to-rent ratio in Minnesota is about 15.4.
| Metric | New Brighton | Minnesota Avg | US Average |
|---|---|---|---|
| Median Home Price | $262,486 | $236,718 | $248,835 |
| Median Household Income | $86,725 | $89,852 | $80,455 |
| Price-to-Income Ratio | 3.0 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in New Brighton rose about 28.1%, while median household income rose about 41.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | New Brighton | Minnesota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.4% | 65.5% | 58.5% |
| Rental Rate | 37.6% | 25.2% | 31.2% |
| Vacancy Rate | 3.0% | 9.3% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
New Brighton has a homeownership rate of 59.4%, lower than the Minnesota average of 65.5%. Its housing vacancy rate is 3.0%, compared with 9.3% in Minnesota.
Housing Stock
| Metric | New Brighton | Minnesota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1975 | 1976 | 1978 |
| Median Number of Rooms | 5.8 | 6.1 | 5.5 |
The typical housing unit in New Brighton was built around 1975. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in New Brighton, Minnesota.
What is the median home price in New Brighton, Minnesota?
The median home price in New Brighton, Minnesota is $262,486, higher than the Minnesota average of $236,718.
What is the average home price in New Brighton, Minnesota?
The typical home price in New Brighton, Minnesota, reported as the median sale price, is $262,486. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in New Brighton, Minnesota?
The median gross rent in New Brighton, Minnesota is $1,396 per month, higher than the Minnesota average of $1,280.
What was the median gross rent in New Brighton in 2020?
In 2020, the median gross rent in New Brighton, Minnesota was $1,081 per month.
What is the price-to-rent ratio in New Brighton, Minnesota?
The price-to-rent ratio in New Brighton, Minnesota is about 15.7, meaning it would take roughly 15.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in New Brighton.
Are home prices or rent rising faster in New Brighton, Minnesota?
Both home prices and rent are rising in New Brighton, up about 18.6% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in New Brighton, Minnesota?
59.4% of households in New Brighton, Minnesota own their home, lower than the Minnesota average of 65.5%.
What is the vacancy rate in New Brighton, Minnesota?
The housing vacancy rate in New Brighton, Minnesota is 3.0%, lower than the Minnesota average of 9.3%.
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