New Hope, Minnesota (55428) is a small city located just northwest of Minneapolis. With an estimated population of 20,233, this suburb provides convenience to the downtown area while still offering its residents an ideal balance of hometown comforts and urban amenities. The cost of living is quite reasonable with the average 2 bedroom rent at $1,320 compared to the US average which is $1,430. Grocery costs index in New Hope is 100 which is equal to the US average. Local companies in New Hope include Autopark Chrysler Jeep Dodge Ram, New Hope Cinema Grill, HealthSource Chiropractic & Progressive Rehab, Dance World MN and Natural Pathways Wellness Center.
New Hope (zip 55428) has an unemployment rate of 4.2%. The US average is 6.0%.
New Hope (zip 55428) has seen the job market decrease by -3.6% 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 (zip 55428)
- The Sales Tax Rate for New Hope (zip 55428) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for New Hope (zip 55428) 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 (zip 55428)
- The average income of a New Hope (zip 55428) resident is $31,251 a year. The US average is $37,638 a year.
- The Median household income of a New Hope (zip 55428) resident is $61,980 a year. The US average is $69,021 a year.