The typical owner-occupied home in New Leipzig is worth about $88,400, 65% below the North Dakota median of $249,900 and 73% below the national median of $332,700. Owners pay a median $1,329 a year in property taxes, about 1.50% of their home's value, higher than the North Dakota rate of 0.99%. The median household earns $55,000 a year, so the median home costs 1.6 times the median income (3.3 times for North Dakota). 84% of occupied homes here are lived in by their owners, and 18% of those owners still have a mortgage.
New Leipzig at a glance
| New Leipzig | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $88,400 | $249,900 | $332,700 |
| Median property tax paid per year | $1,329 | $2,468 | $3,119 |
| Property tax as a share of value | 1.50% | 0.99% | 0.94% |
| Median household income | $55,000 | $76,657 | $80,734 |
| Homes lived in by their owners | 84% | 63% | 65% |
| Owner homes with a mortgage | 18% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,167 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 30.0% | 19.4% | 21.0% |
| Median rent | $828 | $954 | $1,413 |
| Rent as a share of renters' income | 51.0% | 25.0% | 30.6% |
| Median year homes were built | 1964 | 1982 | 1980 |
| Vacant homes | 31.4% | 12.3% | 10.1% |
| Population | 181 | 784,841 | 334,922,499 |
What a typical home costs per month in New Leipzig
At this week's average 30-year rate of 7.11%, buying the median New Leipzig home of $88,400 with 20% down costs about $623 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $770, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $26,703 for the 20%-down payment. That payment is 14% of the median New Leipzig household income of $55,000; at that income and 20% down, the 28% guideline points to a home of about $182,000.
The median rent here is $828 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $17,680 |
|---|---|
| Loan amount | $70,720 |
| Principal and interest | $476 |
| Property taxes (1.50% a year) | $110 |
| Homeowners insurance (our estimate, 0.5% a year) | $37 |
| PMI | $0 |
| Total per month | $623 |
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| Down payment | $3,094 |
|---|---|
| Loan amount | $86,799 |
| Principal and interest | $584 |
| Property taxes (1.50% a year) | $110 |
| Homeowners insurance (our estimate, 0.5% a year) | $37 |
| FHA mortgage insurance | $39 |
| Total per month | $770 |
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Questions about home buying in New Leipzig
What is the median home value in New Leipzig?
About $88,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in New Leipzig?
Homeowners pay a median $1,329 a year, which is about 1.50% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in New Leipzig?
For the median home with 20% down at 7.11%, the payment is about $623 a month. Keeping that under 28% of gross income takes about $26,703 a year.
More about New Leipzig
- Mortgage Refinance in New Leipzig
- Debt Relief in New Leipzig
- Home Equity Loans in New Leipzig
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data