New Hope, Minnesota.
Typical home $346,933 (+1.9% in a year), asking rent $1,359 (+2.7%). Minneapolis-St. Paul-Bloomington, MN-WI metro.
to buy the typical home at today's mortgage rate — +$843 (+86%) since Jan 2020.
- 1 year
- Up $6,309 +2%
- $340,624$346,933 since Sep 2025
- 5 years
- Up $29,840 +9%
- $317,092$346,933 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- New Hope$1,821
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 39 years.
Typical home values in New Hope, MN rose 1.9% over the past year — faster than the nation's +1.2%.
Asking rents in New Hope, MN rose 2.7% over the past year — in step with the nation.
Owning the typical home in New Hope runs $1,163/mo more than renting one. The gap peaked at $1,271 in Oct 2023.
That is $2,522 a month against $1,359 rent: a $1,821 mortgage payment, plus $330 property tax and $371 insurance & upkeep.
Owning vs renting — New Hope
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,522
- Renting$1,359
- Mortgage only$1,821
Property tax · $330/mo 1.14% of value a year — the ACS 2020-2024 median bill over the median home value for Hennepin County, MN
Insurance & upkeep · $371/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in New Hope, Hennepin County, Minnesota
New Hope is a city of 21,986 people in Hennepin County. Half its households earn more than $77,662 a year and half less, against $97,653 across Hennepin County; 11% of its people live below the poverty line. 53% of its homes are lived in by their owners and 47% are rented. Unemployment in Hennepin County was 4.6% in August 2026, and the county had 0.2% more jobs in 2025 than the year before. The most residents work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. New Hope is a city in Hennepin County, just northwest of Minneapolis. Its residents are middle-aged on the whole, and household incomes run below the county's. More homes are lived in by their owners than rented, though renters make up a good part of the town, and fewer adults hold a four-year degree than not. Winters are cold, with a lot of snow, and summers are warm.
Work. Many residents work in schools, hospitals and social care, with manufacturing, retail and professional and business services also employing a good share. The largest workplaces in town include the Robbinsdale Public School District, Hydraulic Pump and Power Systems, and Woodlake Healthcare and Rehabilitation Center. Commutes are fairly short, and a fair number of people work from home. Across Hennepin County, jobs have been close to flat over the past year, and unemployment is a little higher than it was a year earlier.
Things to do. A short drive takes you to the Minneapolis Institute of Art and the Walker Art Center, both well-known art museums. Target Field, a stadium, is also a short drive away. Bde Maka Ska, a lake in Minneapolis, is a short drive as well, and Lake Minnetonka is a longer drive for a day on bigger water.
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- 8,875households
- 36%of adults have a degree
- 11%below the poverty line
- 19 mintypical commute
- 16%work from home
What residents work in
Employed residents by industry, from the Census survey. Hennepin County had 919,062 jobs in 2025, 0.2% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 24° and lows near 7°; warmest in July, with highs near 82° and lows near 63°. About 54 inches of snow and 35 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the New Hope weather station, 2 miles away (NOAA).
Largest workplaces in New Hope
- Robbinsdale Public School DistrictSchool district1,881FTE
- Hydraulic Pump and Power SystemsFluid power pump and motor manufacturing336
- Woodlake Healthcare and Rehabilitation CenterNursing homes318
- Padagis USPatent medicine preparations manufacturing305
- Hy-VeeSupermarkets and other grocery except convenience stores282
- North Ridge SkilledGroup homes for the disabled with nursing care236
- API Garage DoorFinish carpentry218
- City of New HopeCity and town councils181
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 54 workplaces with 20 or more staff, 4,991 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Cold wavesRelatively high
- HailRelatively high
- Heat wavesRelatively high
- TornadoesRelatively high
- Winter weatherRelatively moderate
- Strong windRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in New Hope’s census tracts, against the rest of the country; all of them together, relatively moderate. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Hennepin County and the Minneapolis-St. Paul-Bloomington, MN-WI metro.
New Hope home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- New Hope$346,933
- Minnesota$348,778
- United States$366,157
Sellers are cutting prices on about 1 in 3 New Hope listings, and the typical home goes pending in 25 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- New Hope34.33%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- New Hope25
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- New Hope71
New listings per month
Sellers arriving at the market.
- New Hope28
Median sale price
What buyers actually paid — closed sales, not asking prices.
- New Hope$362,600
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- New Hope102.43%
Zip codes with a New Hope address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls New Hope — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in New Hope
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 55428 | Minneapolis | 32,499 | $1,585 | $315,748 |
| 55427 | Minneapolis | 24,764 | $1,788 | $362,353 |