New Hope, Minnesota Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the New Hope, Minnesota rental market.
New Hope, Minnesota
Average Apartment Rent
$1,373
Y-o-Y Change in Average
Apartment Rent
1.8%
As of May 2026
Compared to a year ago, New Hope, Minnesota apartments have recorded a 1.8% rent increase.
New Hope, Minnesota Average apartment rent trend
New Hope, Minnesota Average Apartment Rent
New Hope, Minnesota Apartment rent ranges
At 73.01%, apartments priced $1,000 - $1,500 represent the bulk of New Hope, Minnesota rentals, while condos priced Over $3,000 hold the lowest share of the market – 0.05%.
New Hope, Minnesota Housing tenure**
Renters take up 47% of New Hope, Minnesota real estate, occupying a total of 4,252 units, while homeowners live in 4,868 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$42,224
Average household size of renter-occupied housing units**
1.95
Rental vacancy rate**
5.1%
New Hope, Minnesota Renter-occupied housing units by no. of bedrooms**
There are 1,895 rentals in New Hope, Minnesota with 1 bed making up the highest share of the market, at 45%. Units with 4 beds, on the other hand, hold the lowest percentage (2%), amounting to 106 units. Overall, the median number of rooms in New Hope, Minnesota homes for rent is 3.8.
New Hope, Minnesota Renter-occupied units by age of householder**
Most condos for rent in New Hope, Minnesota are occupied by residents in the 25 - 34 years age group (21%), followed by those in the 45 - 54 years age group (16%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 5%.
New Hope, Minnesota Renter-occupied housing units by family type**
New Hope, Minnesota Renter-occupied housing units by the presence of own children**
A total of 1,697 apartments for rent in New Hope, Minnesota, or 40% of all rentals are family households. Additionally, 22% of rental homes include children under the age of 18 – that’s 921 units. All in all, the median size of a renter-occupied household in New Hope, Minnesota is 1.95.
New Hope, Minnesota Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 20% of the rental market. In contrast, residents with less than a high school degree reside in 7% of the homes for rent in New Hope, Minnesota.
New Hope, Minnesota Renter-occupied units by year structure built**
The highest share of New Hope, Minnesota apartment rentals, namely 33% or 1,398 units, were Built 1960 - 1969, followed by those Built 1970 - 1979 (25%, 1,075 units), and the ones Built 1980 - 1989 (16%, 665 units).
New Hope, Minnesota Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most New Hope, Minnesota renters (46%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their New Hope, Minnesota condos for rent is 2016.
New Hope, Minnesota Renter-occupied housing units by vehicles available**
When it comes to transportation options, 54% of New Hope, Minnesota renters have 1 vehicle available per household, 23% of them have 2 vehicles available, and 17% have No vehicle available.
New Hope, Minnesota Means of transportation to work of householders living in renter-occupied housing units**
New Hope, Minnesota Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all New Hope, Minnesota apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
