salaryRent is higher than in 60% of U.S. cities. A typical house costs about 3.4 years of household income. Most homes (76.7%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $73,520 a year. That is $35 an hour at a full-time job.
Is rent cheaper than other Minnesota cities?
No. Rent here is more expensive than in most of Minnesota. It is number 109 of 150 cities from cheapest to most expensive.
How much do households earn in New Prague?
Share of households by yearly income. 38.9% of households earn $100,000 or more.
Rent by apartment size in New Prague
| Size | New Prague | U.S. average |
|---|---|---|
| 1 bedroom | $1,229 | $1,324 |
| 2 bedrooms | $1,608 | $1,509 |
| 3 bedrooms | $1,908 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is New Prague overall?
Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for New Prague, so the Minnesota figure is shown.
Taxes and bills in New Prague
Life in New Prague
Is it cheaper to rent or buy in New Prague?
Renting is cheaper right now: about $594 a month less.
Owning assumes a typical $350,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $35,050 for the down payment.
Frequently asked questions
What is the average rent in New Prague, MN?
Renting in New Prague costs a median of about $1,838 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in New Prague?
To keep rent under 30% of income, you need about $73,520 a year, or $35 an hour at a full-time job.
Is New Prague cheap or expensive?
New Prague is rated OK: rent takes 21.6% of the typical household income of $101,960. It ranks 109th cheapest of 150 Minnesota cities we track.
How much are property taxes in New Prague?
The median homeowner in New Prague pays $3,591 a year in property taxes, about 1.02% of the median home value.
Is New Prague more expensive than the national average?
Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in New Prague?
The median home value in New Prague is $350,500, about 3.4 times the typical yearly household income.
8,237 people live in New Prague. Numbers are typical (middle) values.