Realtor.com: New Ulm most affordable small town in U.S Realtor.com: New Ulm most affordable small town in U.S By Kelsey Barchenger | April 22, 2021 at 1:10 PM CDT - Updated April 22 at 1:10 PM MANKATO, Minn. (KEYC) - You donât have to go far to find the most affordable small town in the United States. A recent report from Realtor.com lists New Ulm as the most affordable small town where you would actually want to live. The ranking looked at median home list prices, ownership costs, unemployment rates, and crime rates to develop the report. âNearly half of the people in the United States surveyed, want to live in smaller towns, affordable towns. Places they can raise a family, so I think New Ulm is a perfect place for that with our ample parks, things to do outside, our festivals,â Michael Looft, New Ulm Chamber of Commerce President.