Coon Rapids, MN vs New Hope, MN

Coon Rapids, MN and New Hope, MN have a very similar cost of living, with only a 1.1% difference in their overall index. Coon Rapids scores 103 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 Coon Rapids is $1,418/month compared to $1,306/month in New Hope — a 9% difference. Interestingly, home values tell a different story: while New Hope has cheaper rent, Coon Rapids actually has lower median home values ($287,200 vs $314,600).

Median household income in Coon Rapids is $86,618 compared to $73,698 in New Hope (+17.5%). While Coon Rapids is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Coon Rapids spend roughly 19.6% of their income on rent, less than the 21.3% in New Hope.