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City Report · WI

New Richmond

Pop. 10,539·24th most expensive in Wisconsin·Rental market data updated monthly for New Richmond, WI
Median rent (all units)
$1,600/mo
Year-over-Year
Stable
Month-over-Month
-6.3%
vs US Median
-$365
Falling (Monthly)
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Most AffordableMost Expensive
New Richmond · $1,600
More affordable than 69% of US cities · National median $1,965/mo
Affordability
22% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,600/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$64,000/yr
Local median income
$88,157/yr
Based on the 30%-of-income rule using New Richmond's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,060
1 BR
$1,200
2 BR
$1,460
3 BR
$1,970
4 BR+
$2,240
Research median
$1,460/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$19,200/yr
At $1,600/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -6.3% MoM), not inventory.
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Demographics

Who lives here

New Richmond, WI is majority owner-occupied, 34.2% of residents hold a bachelor's degree or higher.

Population
10,539
Median income
$88,157
Median age
38
Renters
37.9%
Age distribution
23.8%
20.6%
27.1%
12.5%
16.1%
Under 1823.8%
18–3420.6%
35–5427.1%
55–6412.5%
65+16.1%
Gender
49.8%
50.2%
Male49.8%
Female50.2%
Race & ethnicity
88.4%
White88.4%
Black1.5%
Hispanic2.5%
Other7.5%
Education (25+)
28%
34.9%
34.2%
No HS diploma3%
HS diploma28%
Some college34.9%
Bachelor's+34.2%
Housing tenure
62.1%
37.9%
Owner62.1%
Renter37.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How New Richmond, WI has changed in 5 years

Income
$71,827 → $88,157
up 22.7%
Population
9,908 → 10,539
up 6.4%
Renter share
41.3% → 37.9%
-3.4 pts
Bachelor's+
27% → 34.2%
+7.2 pts
Median age
36.4 → 38
+1.6 yrs

Household income in the area moved from $71,827 to $88,157 across the same window, up 22.7% versus 2021. Headcount in the area went from 9,908 to 10,539 between 2021 and 2024, a 6.4% change. About 37.9% of households rent today, against 41.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 27% to 34.2%.

Community

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View New Richmond rent history (2015–2026) →
Salary vs rent

Can you afford rent in New Richmond on your salary?

At $1,600/mo, how New Richmond rent compares to typical pay (30% rule).

By apartment size

New Richmond rent by bedroom count

Median rent for each apartment size in New Richmond. Click any size for full breakdown.

Local insights

Tips for renters in New Richmond

About renting in New Richmond, WI

Last updated: July 20, 2026

The median rent in New Richmond is $1,600/mo as of July 2026. A studio apartment averages $1,060/mo while a 2-bedroom runs $1,460/mo. One-bedroom apartments average $1,200/mo and 3-bedroom units go for $1,970/mo.

At 22% of local median household income ($88,157/yr), New Richmond ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is New Richmond an affordable city for renters?

New Richmond is considered very affordable for renters. At $1,600/mo, rent takes approximately 22% of the local median household income ($88,157/yr). The standard benchmark is 30%. New Richmond falls comfortably within that range.

How much income do you need to rent in New Richmond?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (~$31/hour full-time) to afford the median rent of $1,600/mo in New Richmond. The local median household income is $88,157/yr, meaning the typical New Richmond household meets that threshold.

Is rent going up or down in New Richmond?

Rent in New Richmond has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does New Richmond rent compare to other cities in Wisconsin?

New Richmond is middle-of-the-pack for Wisconsin for rent, ranking #24 out of 62 tracked cities at $1,600/mo.

Which nearby cities are cheaper to rent in than New Richmond?

Several nearby cities have lower median rents than New Richmond ($1,600/mo): North Saint Paul ($1,410/mo), River Falls ($1,513/mo).

What percentage of New Richmond residents rent vs. own?

According to Census data, approximately 37.9% of New Richmond households are renters, while 62.1% are owner-occupied. New Richmond leans toward homeownership, which can mean a smaller rental inventory.

How does New Richmond rent compare to the national average?

New Richmond's median rent of $1,600/mo is $365 (19%) below the US national median of $1,965/mo. Within Wisconsin, it ranks #24 out of 62 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,600/mo, rent takes ~22% of New Richmond's median household income ($88,157/yr). The standard benchmark is 30%.

New Richmond 22%Benchmark 30%
State income tax3.5–7.65%
Run the New Richmond affordability calculator →
Lowest-rent ZIP codes in New Richmond
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near New Richmond, WI

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