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New Germany, MN Profile: Facts & Data

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New Germany, Minnesota - Basic Facts

The City of New Germany had a population of 502 as of July 1, 2023.

The primary coordinate point for New Germany is located at latitude 44.8841 and longitude -93.9705 in Carver County. The formal boundaries for the City of New Germany encompass a land area of 1 sq. miles and a water area of 0 sq. miles. Carver County is in the Central time zone (GMT -6).

The City of New Germany has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.


Jump to... (On This Page!)
  1. New Germany 2023 Demographic Data
  2. Growth Rates for New Germany (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Minnesota Research Tools (Easy Tools & Current Data)
  3. Minnesota Data Comparison Tool - 2023 Demographics
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New Germany, MN Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 502 (100%)
Population in Households 502 (100.0%)
Population in Families 417 (83.1%)
Population in Group Quarters1 0
Population Density 505
Diversity Index2 20
 
 

INCOME

Median Household Income $66,197
Average Household Income $85,644
% of Income for Mortgage4 40%
Per Capita Income $30,880
Wealth Index5 65
Socioeconomic Status Index6 Moderate (59.2)
 

HOUSING

Total HU (Housing Units) 197 (100%)
Owner Occupied HU 155 (78.7%)
Renter Occupied HU 26 (13.2%)
Vacant Housing Units 16 ( 8.1%)
Median Home Value $444,118
Average Home Value $482,581
Housing Affordability Index3 59
 

HOUSEHOLDS

Total Households 181
Average Household Size 2.77
Family Households 124
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2023 2023-2028
Population 2.45% 8.22%
Households 0.17% 8.00%
Families   8.68%
Median Household Income   3.06%
Per Capita Income   2.71%
Owner Occupied HU   9.14%

New Germany, MN - Peer Comparisons by Rank and Percentile

The table below compares New Germany to the other 914 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 504 45th
Population Density # 481 47th
Median Household Income # 520 43rd
Housing Affordability Index # 166 18th
Per Capita Income # 780 15th
Diversity Index # 445 52nd

Additional comparisons and rankings can be made with a VERY EASY TO USE Minnesota Census Data Comparison Tool.

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