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Studio Apartment for Rent in New Richmond, WI

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    Starting at $1,050 Per Month

    • Studio - 3 Beds

    421 S Green Ave, New Richmond, WI 54017

    Archway Residences is a vibrant new community located in the heart of New Richmond, WI, offering a unique living experience above the city's state-of-the-art public library. Designed for modern lifestyles, the property features a mix of upscale apartments and spacious townhomes with contemporary finishes, smart access technology, and open-concept layouts. Residents enjoy amenities like a

    Archway Residences

    421 S Green Ave, New Richmond, WI 54017

Why Live in New Richmond

New Richmond, Wisconsin, is a small city experiencing steady growth in both population and industry. Located 42 miles east of Minneapolis, it offers proximity to big city amenities while maintaining its own unique features. The city is home to major employers like Federal Foam Technologies, Inc. and Phillips Medisize, and continues to attract new businesses. Housing options range from colonial-style homes needing updates to custom craftsman homes on large lots, with a median home price of $372,000. The New Richmond School District is highly rated, serving approximately 3,500 students with a strong graduation rate. Northwood Technical College provides higher education opportunities, particularly in STEM fields. Downtown New Richmond offers diverse dining options, boutique shopping, and local theater at the Old Gem Theater. The city boasts 270 acres of parks with amenities such as campgrounds, cross-country ski trails, and athletic fields, along with adaptive playgrounds at Mary Park. Annual events like the Cabin Fever Classic and Park Art Fair foster community engagement. While there is no public transportation, curbside ride-sharing is available, and the nearest commercial airport is 45 miles away in Minneapolis. Crime rates are lower than state and national averages, contributing to a sense of safety. Winters are cold with moderate snowfall, but summers are warm and pleasant.

Frequently Asked Questions

How much does it cost to rent a home in New Richmond, WI?
The median rent for a home in New Richmond, WI is $1,687 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in New Richmond, WI?
To comfortably afford the median rent in New Richmond, WI, a household needs to earn roughly $67,480 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,687 per month in New Richmond, WI, renters typically need to show $5,061 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in New Richmond, WI?
In New Richmond, WI, the price-to-rent ratio is 19.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,687
Median Single Family Home Rent
$1,840
Median Townhouse Rent
$1,725
Median Condo Rent
$1,363
How to Rent a Home