New Hope, MN vs St. Louis Park, MN

New Hope is moderately more affordable than St. Louis Park, with a 11.5% lower cost of living index. New Hope scores 102 compared to 115 for St. Louis Park, where the US average is 100. This difference means residents of St. Louis Park can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in New Hope is $1,306/month compared to $1,589/month in St. Louis Park — a 18% difference. Home values follow the same pattern: New Hope is more affordable at $314,600 median vs $371,600.

Median household income in New Hope is $73,698 compared to $100,250 in St. Louis Park (-26.5%). While St. Louis Park is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of New Hope spend roughly 21.3% of their income on rent, more than the 19% in St. Louis Park.

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