In 2016, the city had a population of 363 and an income of $48,125. According to the US CENSUS BUREAU, the median household income was $48,125. Compared to the surrounding areas, the median household income in New Munich is lower than in Blomkest and Darwin. However, the poverty rate is higher. There are a variety of factors that contribute to this disparity.
The city of Munich is located in the centre of Germany and is influenced by a wide range of climatic conditions. The city has more extremes in temperature than many of the other cities in Europe. As such, the population and weather are more variable here than in other cities. For these reasons, many expats prefer to relocate to the suburbs. Aside from the city's proximity to employment, housing prices tend to be lower.
In 1806 the city was named the capital of the Kingdom of Bavaria. Today, the Landtag is home to the state parliament of Bavaria. It also houses the Landshut University, which was relocated in 1926. During the reign of Ludwig the Lion, the city saw some of its most iconic buildings constructed. The king's role in creating the city's distinctive look is known, and his promotion of the composer Richard Wagner has led to numerous architectural masterpieces in the city.
The city's original name derives from the Old German word monche, meaning "monk." As such, it was known as the "home of the monks". The Frauenkirche, which is now the cathedral, was built in 20 years starting in 1468. This was the first planned city expansion in the area. In addition to being home to the university, the city also contains several museums, galleries, and student pubs.