Albertville, MN vs New Hope, MN

Albertville, MN and New Hope, MN have a very similar cost of living, with only a 3.3% difference in their overall index. Albertville scores 105 while New Hope scores 102 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Albertville is $1,385/month compared to $1,306/month in New Hope — a 6% difference. Home values follow the same pattern: New Hope is more affordable at $314,600 median vs $326,400.

Median household income in Albertville is $126,307 compared to $73,698 in New Hope (+71.4%). While Albertville is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Albertville spend roughly 13.2% of their income on rent, less than the 21.3% in New Hope.