Cost of Living in New Hope, MN
Overall index: 95 (100 = US national average). Data source: US Census ACS 2023 & BLS OEWS 2025, 2025.
Overall Cost of Living Index
Cost Breakdown by Category
| Category | Index | vs US avg | Sample cost |
|---|---|---|---|
| Housing | 90 | -10% | $914 |
| Transportation | 103 | +3% | $3.50 |
| Food | 99 | -1% | $406 |
| Utilities | 95 | -5% | $162 |
| Healthcare | 95 | -5% | $117 |
Index 100 = US national average. Higher = more expensive.
Cost breakdown (visual)
Salary Calculator: What do you need to earn in New Hope?
A single adult living comfortably in New Hope, MN needs approximately $33,250 / year after taxes.
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Frequently Asked Questions
What is the cost of living in New Hope, MN?
The overall cost of living in New Hope, MN is 5% lower than the US national average (index: 95 where 100 = national average).
How much is rent in New Hope, MN?
Average rent for a 1-bedroom apartment in New Hope, MN is about $914/month.
Is New Hope, MN expensive to live in?
Costs in New Hope, MN are roughly in line with the national average.
What salary do I need to live in New Hope, MN?
A single adult needs roughly $33,250/year to cover basic living costs in New Hope, MN.