Total monthly cost of ownership
Cost to Own a Home in New London, Minnesota
A $209,000 home here costs
$1,757per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,074. The real number is $683 higher every month — 64% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
New London against Kandiyohi County and Minnesota
| Measure | New London | Kandiyohi County |
|---|---|---|
| Median home value | $209,300 | $230,500 |
| Median property tax | $2,374 | $2,291 |
| Effective tax rate | 1.134% | 0.994% |
| Median gross rent | $960 | $843 |
| Population | 1,156 | 43,757 |
The weather behind that power bill
New London sits in Kandiyohi County, which averages a high of 81.5°F in its hottest month and a low of 2.9°F in its coldest, with 28.67" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 596 cooling and 8,309 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Kandiyohi County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kandiyohi County
Full Kandiyohi County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in New London?
A $209,000 home in New London, Minnesota costs approximately $1,757 per month with 20% down at 6.66%. That is $1,074 principal and interest, $198 property tax, $91 homeowners insurance, $220 utilities and $174 set aside for maintenance.
What is the property tax rate in New London?
New London has an effective property tax rate of 1.134%, based on a median home value of $209,300 and median real estate taxes of $2,374. That is higher than the Kandiyohi County average of 0.994%.
What is the average home price in New London?
The median owner-occupied home value in New London, Minnesota is $209,300, against $230,500 across Kandiyohi County.
Is it cheaper to rent or buy in New London?
Median gross rent in New London is $960 a month, against $1,757 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New London — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Minnesota.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.