What is the cost of living in New Hope, MN?
According to the most recent data on the cost of living, New Hope has an overall cost of living index of 110, which is 1.1x higher than the national index of 100.
Compared to Minnesota, New Hope has a cost of living index that's 1.1x higher than Minnesota's index of 101.
The standard of living in New Hope ranks as #91 most affordable out of the 151 places we measured in Minnesota. By definition, that implies New Hope ranks as the #60 most expensive place in the North Star State.
For more reading on life in New Hope, check out:
New Hope Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in New Hope. Here is how it fares on each of the criteria:
The Services index in New Hope is 99.
The Groceries index in New Hope is 104.
The Health index in New Hope is 127.
The Housing index in New Hope is 102.
The Transportation index in New Hope is 105.
The Utilities index in New Hope is 98.
| Living Expense | New Hope | Minnesota | National Average |
|---|---|---|---|
| Overall | 110 | 101 | 100 |
| Services | 99 | 101 | 100 |
| Groceries | 104 | 99 | 100 |
| Health | 127 | 99 | 100 |
| Housing | 102 | 101 | 100 |
| Transportation | 105 | 103 | 100 |
| Utilities | 98 | 101 | 100 |
New Hope Cost Of Living Compared To Minnesota Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Minnesota, check out:
Protect your home budget Compare home warranties in New Hope Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
New Hope, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in New Hope is $350,939.
The Median Rent in New Hope is $1,335.
The Median Income in New Hope is $77,662.
The Home Value To Income in New Hope is 4.5x.
The Rent To Monthly Income in New Hope is 0.21x.
New Hope, MN Costs By Category
Detailed New Hope Services costs vs. Minnesota
Detailed New Hope Groceries costs vs. Minnesota
Detailed New Hope Health costs vs. Minnesota
Detailed New Hope Transportation costs vs. Minnesota
New Hope SnackAbility
Cost Of Living In Cities Around New Hope
The cost of living varies in the cities and towns around New Hope. Here's a quick look at the cost of living in the most populous nearby places:
Brooklyn Park, MN has a cost of living index of 108, 1.0x New Hope.
Plymouth, MN has a cost of living index of 124, 1.1x New Hope.
Maple Grove, MN has a cost of living index of 117, 1.1x New Hope.
| City | Population | Cost Of Living | Vs. New Hope |
|---|---|---|---|
| Brooklyn Park, MN | 83,876 | 108 | 1.0x |
| Plymouth, MN | 79,220 | 124 | 1.1x |
| Maple Grove, MN | 71,173 | 117 | 1.1x |
| Eden Prairie, MN | 63,051 | 128 | 1.2x |
| Edina, MN | 53,262 | 141 | 1.3x |
| Minnetonka, MN | 53,064 | 127 | 1.2x |
| St. Louis Park, MN | 49,594 | 116 | 1.1x |
| Brooklyn Center, MN | 32,479 | 102 | 0.9x |
| Shoreview, MN | 26,714 | 116 | 1.1x |
| Champlin, MN | 23,294 | 111 | 1.0x |
