Minnetonka, MN vs New Hope, MN

There is a significant gap in the cost of living between these two cities. New Hope is 24.8% cheaper than Minnetonka. With a cost index of 102 vs 127, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from New Hope to Minnetonka should plan for substantially higher expenses across most categories.

On the housing front, median rent in Minnetonka is $1,758/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 $456,200.

Median household income in Minnetonka is $120,496 compared to $73,698 in New Hope (+63.5%). While Minnetonka is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Minnetonka spend roughly 17.5% of their income on rent, less than the 21.3% in New Hope.

Climate-wise, both cities share similar average temperatures (46.7°F vs 45.8°F). New Hope receives more rainfall at 30.7" per year compared to 30.6" in Minnetonka.