Home Insurance in New Richland, Minnesota
Homes in New Richland carry a median value of $137,000 - 38% lower than the Waseca County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in New Richland was built around 1950. About 56% of homes were built before 1960, about 16 points above Waseca County's 40%.
The housing stock in New Richland is 87% single-family homes and 13% apartments in buildings with 5+ units.
In New Richland, about 59% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
New Richland has an owner-occupancy rate of 86% and a vacancy rate of 7%; unoccupied homes typically need a different coverage form.
Most homes in New Richland - 79% - are primarily heated with natural gas.
Waseca County had 12 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively Moderate). See the full Waseca County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Minnesota carries a statewide average premium of $1,988 per year.
Key figures
| Median home value | $137,000 |
|---|---|
| Median year built | 1950 |
| Owner-occupied share | 86% |
| Share of owner-occupied homes with a mortgage | 59% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Waseca County | 12 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)