New Hope, MN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2022-04-07
106
New Hope's Overall Cost Of Living
1.1x
Higher Than The National Average
83 out of 147
In Minnesota
3,772 out of 6,412
In America
The cost of living index is set to 100 for the average place in America. An index above 100 means New Hope is expensive, while a number below 100 means it's a relatively cheap place to live.

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 106 which is 1.1x higher than the national index of 100.

Compared to only Minnesota, New Hope has a cost of living index that's 1.0x higher than Minnesota's index of 104.

The standard of living in New Hope ranks as #3,773 most affordable out of the 6,418 places we measured in Minnesota. By definition, that implies New Hope ranks as the #2,646 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

Living Expense New Hope Minnesota National Average
Overall 106 104 100
Services 110 106 100
Groceries 105 102 100
Health 102 113 100
Housing 103 101 100
Transportation 101 102 100
Utilities 98 98 100
For more reading on cost of living around Minnesota, check out:
New Hope Cost of Living Vs. MN

New Hope, MN Housing Cost Breakdown

Housing swings affordability the most between places in Minnesota, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

$235,600
Median Home Value
$1,084
Median Rent
$60,762
Median Income
Statistic New Hope Minnesota United States
Median Home Value $235,600 $235,700 $229,800
Median Rent $1,084 $1,010 $1,096
Median Income $60,762 $73,382 $64,994
Home Value To Income 3.9x 3.2x 3.5x
Rent To Monthly Income 0.21x 0.17x 0.2x

Detailed New Hope Services Costs Vs. Minnesota

Item New Hope Minnesota
Shampoo $1.09 $1.06
Movie $9.96 $10.68
Bowling $22.57 $14.67

Detailed New Hope Groceries Costs Vs. Minnesota

Item New Hope Minnesota
Ground Beef $4.4 $4.22
Fried Chicken $2.1 $1.39
Milk $2.6 $2.05

Detailed New Hope Health Costs Vs. Minnesota

Item New Hope Minnesota
Haircut $24.2 $18.62
Beauty Salon $34.39 $39.05
Toothpaste $3.36 $2.34

Detailed New Hope Transportation Costs Vs. Minnesota

Item New Hope Minnesota
Potatoes $3.32 $3.29
Pizza $12.99 $10.62
Beer $8.96 $9.38
Optometrist $89.59 $108.57
Doctor $147.85 $116.17
Dentist $86.94 $99.13

Detailed New Hope Utilities Costs Vs. Minnesota

Item New Hope Minnesota
Gasoline $2.06 $2.22
Tire Balancing $58.37 $50.07
All Electricity $160.63 $167.67
Phone $180.98 $175.64

New Hope SnackAbility

8
/10
Overall SnackAbility
Jobs
8/10
Housing
8.5
Affordability
5
Diversity
9
Safety
6
Amenities
9
Education
8
Commute
8

Cost Of Living In Cities Around New Hope

City Population Cost Of Living Vs. New Hope
Brooklyn Park, MN 80,173 105 1.0x
Plymouth, MN 78,879 122 1.2x
Maple Grove, MN 71,569 117 1.1x
Eden Prairie, MN 64,481 121 1.1x
Minnetonka, MN 53,760 121 1.1x
Edina, MN 52,215 135 1.3x
St. Louis Park, MN 48,874 113 1.1x
Brooklyn Center, MN 30,755 100 0.9x
Shoreview, MN 26,922 110 1.0x
Champlin, MN 24,980 110 1.0x

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