New Hope, MN vs Wyoming, MN

New Hope, MN and Wyoming, MN have a very similar cost of living, with only a 4.7% difference in their overall index. New Hope scores 102 while Wyoming scores 97 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 New Hope is $1,306/month compared to $1,117/month in Wyoming — a 17% difference. Interestingly, home values tell a different story: while Wyoming has cheaper rent, New Hope actually has lower median home values ($314,600 vs $328,900).

Median household income in New Hope is $73,698 compared to $101,938 in Wyoming (-27.7%). Wyoming offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of New Hope spend roughly 21.3% of their income on rent, more than the 13.1% in Wyoming.

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