New Ulm, MN

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the New Ulm short-term rental market based on reliable data.

Listings

31 / 58

Reliable / Active

Cap Rate

9%

Middle-Earners Gross Yield

Revenue

$22,650

Middle-Earners Revenue

Occupancy

51%

Middle-Earners Occupancy

Home Value

$252,907

Median Home Sale Price

Top Earners

$46,408

Top-Earners Revenue

New Ulm

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in New Ulm.

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C

Challenging to Investors

New Ulm Regulations

STRs appear legally allowed but regulation is uncertain—sources conflict on licensing, fees, and whether any city ordinances exist—creating risk of shifting rules and inconsistent enforcement; Blue Earth County surveyed standards and caps without clarity on implementation, adding uncertainty for investors.

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About New Ulm

New Ulm is a small city in Brown County, in south-central Minnesota, with a population of roughly 13,000 to 14,000 residents. Settled by German immigrants in the mid-nineteenth century, the town has retained a strong Germanic character that sets it apart from most other communities in the Upper Midwest, and it is widely regarded as one of the most distinctively German cities in the United States. Visitors are drawn by its Old World charm, its brewing heritage, and its river-valley setting along the Minnesota River, while the broader region offers outdoor recreation across a network of state parks and prairie landscapes. New Ulm lies about 100 miles southwest of the Minneapolis–Saint Paul metropolitan area, roughly a two-hour drive to the northeast, and about 30 miles northwest of Mankato, the nearest larger city.

A centerpiece of any visit is the Hermann Heights Monument, a tall stone-and-bronze statue modeled on the Hermannsdenkmal in Germany, perched on a bluff overlooking the Minnesota River. The monument, completed in the late nineteenth century, commemorates German heritage and offers sweeping views of the river valley. It sits within walking distance of downtown and is one of the most recognizable landmarks in the region.

Just across the Minnesota River, Flandrau State Park provides a convenient escape for hiking, swimming, and picnicking, with a sand-bottom swimming pool and trails that wind through oak woodland and prairie. The park is only minutes from downtown New Ulm, making it an easy half-day outing for travelers interested in outdoor recreation without leaving the immediate area.

Downtown New Ulm is anchored by the August Schell Brewing Company, founded in 1860 and one of the oldest family-owned breweries in the United States. Tours of the historic grounds, the gardens, and the deer park are a popular draw, and the brewery's lagers and bocks are served throughout the city. Nearby, a downtown glockenspiel chimes several times a day with costumed figurines, and the historic Turner Hall continues to operate as a German cultural and social center.

A short distance north of the city center, the Wanda Gág House honors the children's book author and illustrator best known for "Millions of Cats." The modest childhood home is preserved as a small museum, offering a quieter, more literary counterpoint to the city's breweries and monuments. The annual Oktoberfest celebration, held in early October, transforms downtown into one of the largest German heritage festivals in the region, drawing visitors from across the Midwest.

New Ulm's combination of distinctive cultural identity, walkable historic core, and easy access to river-valley scenery makes it a natural base for short-term rentals. Guests can spend a weekend exploring breweries, monuments, and state-park trails while enjoying the slower pace of a small Minnesota city.

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