56073 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Brown County
Centroid: Latitude 44.313, Longitude -94.466
Time Zone: Central Time Zone (UTC -6 hours)
Observes DST: Yes

ZIP Code 56073 has segments in 2 Counties (Brown, Nicollet).

Businesses Addresses: 582
PO Box Addresses: 142
Residential Addresses: 7,479

Multi-Family Addresses: 1,298
Single Family Addresses: 6,181

The ZIP Code maps and database are updated 4 times per year.
Database updated: July 1, 2020, Maps updated: May 1, 2020.

New Ulm, MN 56073 Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	17,314 (100%)
Population in Households	16,423 (94.9%)
Population in Families	12,978 (75.0%)
Population in Group Quarters¹	891 ( 5.1%)
Population Density	88
Diversity Index²	11


INCOME
Median Household Income	$58,015
Average Household Income	$72,446
% of Income for Mortgage⁴	11%
Per Capita Income	$30,778
Wealth Index⁵	77

HOUSING
Total HU (Housing Units)	7,740 (100%)
Owner Occupied HU	5,604 (72.4%)
Renter Occupied HU	1,735 (22.4%)
Vacant Housing Units	401 ( 5.2%)
Median Home Value	$158,819
Average Home Value	$183,989
Housing Affordability Index³	203

HOUSEHOLDS
Total Households	7,339
Average Household Size	2.24
Family Households	4,648
Average Family Size	3

NOTES

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.
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.
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.
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).
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.

New Ulm, MN 56073 - Peer Comparisons by Rank and Percentile

The table below compares 56073 to the other 879 ZIP Codes in Minnesota by rank and percentile using July 1, 2020 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.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	0.31%	0.28%
Households	0.41%	0.34%
Families	0.29%	0.26%
Median Household Income		0.38%
Per Capita Income		1.28%
Owner Occupied HU		0.45%

Variable Description	Rank	Percentile
Total Population	# 116	87th
Population Density	# 269	70th
Median Household Income	# 563	36th
Housing Affordability Index	# 507	58th
Per Capita Income	# 541	39th
Diversity Index	# 620	29th

New Ulm, MN 56073 ZIP Code Profile

ZIP Code 56073: Basic Data & USPS Preferred City Name

New Ulm, MN 56073 Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

New Ulm, MN 56073 - Peer Comparisons by Rank and Percentile

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