What to know before you move: cost, market timing, who it fits.
If you're considering a move to New Hope, MN, the most important variables are the local housing market, the cost structure (taxes, insurance, utilities), and how well the city fits your day-to-day life. This page summarizes the housing market read; pair it with the cost of living page for the full picture.
New Hope is a city in Hennepin County, Minnesota, with an estimated population of 20,745. It anchors the Minneapolis-St. Paul-Bloomington metro area. The population has contracted 1.4% per year on average since 2020. The median home value in New Hope is $354,786 as of 2026-04, up 3.6% over the last 12 months. Over the last five years, home values have averaged +2.9% annual growth, with prices at or near the 5-year peak. Rents in New Hope average $1,391 per month, up 5.0% year-over-year. The composite momentum score is 62 of 100 (Rising). The market is healthy with prices supported by underlying demand.
Quiet strength: prices near or at all-time highs (-0.1% from 5-year peak). Solid market for owner-occupiers; investors should underwrite conservatively given the elevated entry point.
Reasons people move here
- Quiet strength: +3.6% over the trailing year — not a melt-up, but the market is bid.
- Held the highs: currently -0.1% from the 5-year peak — this market refused to give back gains.
Things to know first
- Net out-migration: population shrinking 1.4% per year — services, schools, and tax base will follow.
- Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.
More about New Hope
Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.