New Hope, MN is a small city located in the Twin Cities region of Minnesota. It is a great place to live because it offers a lower cost of living compared to other cities in the area. The median rent for a two bedroom apartment in New Hope is $1,350 compared to $1,430 nationally. Similarly, the Grocery Cost Index in New Hope is 100 versus 100 in the US which indicates that groceries are similarly priced as the national average.
The city also boasts several successful businesses, such as Brookdale Shopping Center which offers grocery shopping and retail stores. Another popular destination amongst locals is Twin City Grill which serves classic American cuisine and hosts special events throughout the year. Finally, Goodrich Quality Theaters provides moviegoers with affordable tickets and snacks at its premiere theaters located in New Hope.
New Hope has an unemployment rate of 4.2%. The US average is 6.0%.
New Hope has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.9%, which is higher than the US average of 33.5%.
Tax Rates for New Hope
- The Sales Tax Rate for New Hope is 7.5%. The US average is 7.3%.
- The Income Tax Rate for New Hope is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for New Hope
- The average income of a New Hope resident is $29,168 a year. The US average is $28,555 a year.
- The Median household income of a New Hope resident is $64,929 a year. The US average is $69,021 a year.