Edina, MN vs New Hope, MN

The cost of living difference between Edina, MN and New Hope, MN is dramatic. New Hope is 38.3% cheaper than Edina, a gap that translates to thousands of dollars per year in household expenses. Edina has a cost index of 141 while New Hope sits at 102, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Edina is $1,757/month compared to $1,306/month in New Hope — a 35% difference. Home values follow the same pattern: New Hope is more affordable at $314,600 median vs $624,000.

Median household income in Edina is $129,225 compared to $73,698 in New Hope (+75.3%). While Edina is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Edina spend roughly 16.3% of their income on rent, less than the 21.3% in New Hope.