New London, MN Real Estate
According to census data in the year 2000 there were 436 housing units in New London.
This represents a 6.9% growth from 408 in 1990.
Of those housing units, 406 were located in either urbanized areas or urban clusters, and 30 were located in what is classified as a rural area.
Homeownership rate in New London is about 76.3%.
New London's vacancy rate, including seasonal lodging, is about 5%.
Average household size is 2.31 people.
The majority of houses, apartments or condos in New London were built after 1958.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.90% |
| One Bedroom | 10.80% |
| Two Bedrooms | 35.30% |
| Three Bedrooms | 32.10% |
| Four Bedrooms | 17.20% |
| Five Bedrooms or more | 3.70% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.5 |
| Median year structure was built | 1956 |
| Median Value of occupied units | $81,400 |
| Median Price asked for vacant units | $30,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.69 |
| Median year structure was built | 1971 |
| Median Monthly Rent asked for vacant units | $325 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 1.50% |
| Second Mortgage | 8.80% |
| Home Equity Loan | 5.10% |
| Simple Mortgage | 51.30% |
| Debt Free | 33.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.3% |
