Montevideo, MN vs New Ulm, MN

Montevideo is moderately more affordable than New Ulm, with a 7.8% lower cost of living index. Montevideo scores 70 compared to 76 for New Ulm, where the US average is 100. This difference means residents of New Ulm can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Montevideo is $832/month compared to $974/month in New Ulm — a 15% difference. Home values follow the same pattern: Montevideo is more affordable at $137,600 median vs $192,700.

Median household income in Montevideo is $65,724 compared to $63,984 in New Ulm (+2.7%). Montevideo offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Montevideo spend roughly 15.2% of their income on rent, less than the 18.3% in New Ulm.

Climate-wise, both cities share similar average temperatures (45.4°F vs 45.4°F). New Ulm receives more rainfall at 28" per year compared to 28" in Montevideo.