New Hope, MN demographics:
population, income, and more

Total population
21,181
-1.0% year-over-year change
Median household income
$77,662/yr
5.4% year-over-year change
Housing units
9,229
-2.0% year-over-year change

New Hope population

How many people live in New Hope

New Hope is home to 21,181 residents, according to the most recent Census data. Gender-wise, 47.4% of New Hope locals are male, and 52.6% are female.

Total population
21,181
-1.0% year-over-year change
Gender ratio
Male
47.4%
10,030
Female
52.6%
11,151
Value Percent YoY change
Male 10,030 47.4% -2.0%
Female 11,151 52.6% -0.2%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in New Hope is 40, with the population distributed as follows: about 19.7% are children under 15, then 9.4% are in the 15 to 24 age group. Adults between 25 and 44 make up 28.9% of the population, while another 24.1% fall into the 45 to 64 bracket. Finally, around 17.9% are 65 or older.

Median age
40.5
Age breakdown
Under 15
19.7%
15 to 24
9.4%
25 to 44
28.9%
45 to 64
24.1%
Over 65
17.9%
Value Percent YoY change
Under 15 4,164 19.7% 3.2%
15 to 24 1,990 9.4% 10.9%
25 to 44 6,124 28.9% -2.6%
45 to 64 5,103 24.1% -5.9%
Over 65 3,800 17.9% -1.6%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In New Hope, 79.4% of the population are US-born citizens, while 13.7% have gained naturalized citizenship. At the same time, 6.8% of residents are non-citizens. As for race, 57.7% of locals are Caucasian, 25.1% are African American and 3.1% have Asian roots. Another 0.4% are Indigenous American, 0.1% are Pacific Islanders, while 4.5% identify as another race. There’s also a share of 9% that includes residents with two or more races.

Citizenship
U.S.-born citizens
79.4%
Non-U.S.-born citizens
13.7%
Non-citizens
6.8%
Value Percent YoY change
U.S.-born citizens 16,823 79.4% -2.6%
Non-U.S.-born citizens 2,908 13.7% 12.1%
Non-citizens 1,450 6.8% -5.3%
Racial breakdown
White
57.7%
Black or African American
25.1%
American Indian and Alaska Native
0.4%
Asian
3.1%
Native Hawaiian and other Pacific Islander
0.1%
Two or more races
9%
Other
4.5%
Value Percent
White 12,220 57.7%
Black or African American 5,321 25.1%
American Indian and Alaska Native 95 0.4%
Asian 663 3.1%
Native Hawaiian and other Pacific Islander 30 0.1%
Two or more races 1,895 9%
Other 957 4.5%

Households in New Hope

A peek inside New Hope households

New Hope has 8,875 households, with an average of 2 members in each. Of these, 61% are families, while the remaining 39% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
8,875
-2.6% year-over-year change
Average people per household
2
Non-family households
3,459
Family households
5,416
Value Percent YoY change
Non-family households 3,459 39% -6.8%
Family households 5,416 61% 0.3%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in New Hope

The housing landscape of New Hope

New Hope's housing consists of 9,229 units, with 46% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 6.3% and offer a more compact, shared living style. Then there are the multifamily buildings in the area, and for those seeking flexibility, non-traditional options like mobile homes account for 0.1% of the housing landscape.

Housing units
9,229
-2.0% year-over-year change
Housing types
Value Percent
1 unit, detached 4,245 46%
1 unit, attached 580 6.3%
2 units 92 1%
3 or 4 units 215 2.3%
5 to 9 units 386 4.2%
10 to 19 units 915 9.9%
20 to 49 units 1,287 14%
50 or more units 1,496 16.2%
Mobile home 13 0.1%
Homes built since 2020
0
% year-over-year change

The age of buildings in New Hope

In New Hope, the median construction year is 1969. About 1.2% of homes were built before the 1940s, with another 1.8% going up by 1949. Most development happened in the second half of the 20th century.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 114 1.2% -18.0%
Built between 1940 and 1949 169 1.8% 37.4%
Built between 1950 and 1959 1,015 11% -0.7%
Built between 1960 and 1969 3,734 40.5% -3.7%
Built between 1970 and 1979 2,062 22.3% -2.4%
Built between 1980 and 1989 984 10.7% -4.3%
Built between 1990 and 1999 204 2.2% 26.7%
Built between 2000 and 2009 544 5.9% 10.6%
Built between 2010 and 2019 403 4.4% -12.4%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

New Hope occupancy rates

Out of the 8,875 occupied housing units in New Hope, 52.6% are owner-occupied, while 47.4% are lived in by tenants. Meanwhile, 3.8% of all homes on the local market sit vacant.

Occupied housing units
8,875
-2.6% year-over-year change
Occupancy breakdown
Renter occupied
4,209
Owner occupied
4,666
Value Percent YoY
change
Renter occupied 4,209 47.4% -2.8%
Owner occupied 4,666 52.6% -2.4%
Unoccupied housing units
3.8%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

New Hope housing costs

Housing costs in New Hope come to a median of $1,406 per month, while tenants specifically pay a median gross rent of $1,335.

Median housing costs per month
$1,406/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in New Hope
$1,335/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in New Hope

New Hope education at a glance

About 30.6% of the population in New Hope went to high school, while 22.4% pursued college studies. Another 9.8% earned an associate degree and 24.1% hold a bachelor’s. Meanwhile, 10% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 516 3.2% 10.7%
High school diploma 5,005 30.6% 0.2%
College diploma 3,665 22.4% -5.7%
Associate degree 1,599 9.8% 3.9%
Bachelor's degree 3,938 24.1% -6.6%
Graduate degree 1,635 10% -0.9%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in New Hope

How much people earn in New Hope

The average annual household income in New Hope was $97,394 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +3.3% change from the previous year. At the same time, the median income stood at $77,662, reflecting a +5.4% shift over the same period.

Average household income in New Hope
$97,394/year
3.3% year-over-year change
Median household income in New Hope
$77,662/year
5.4% year-over-year change

New Hope income by age

In New Hope, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $107,981. Those with someone between 45 and 64 in charge, often well established professionally, earn $101,750 overall. Younger households, where the main provider is under 25 and just starting out, report a median income of $33,500, while those led by someone over 65, many of whom may be retired, have about $38,674 in earnings. Overall, 89.4% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
Under 25 $33,500 N/A
25 - 44 $107,981 12.8%
45 - 64 $101,750 6.7%
Over 65 $38,674 6.2%
Above poverty level
18,062
Below poverty level
2,137
Value Percent YoY
change
Above poverty level 18,062 89.4% 0.1%
Below poverty level 2,137 10.6% -9.1%

Average renter income in New Hope

To get a better sense of what renters earn on average in New Hope, their median household income was $42,224 according to 2022 Census data. In addition, the rent-to-income ratio in the area, at 37.9%, shows what portion of their earnings goes toward housing expenses.

Renter median household income
$42,224
Rent-to-income ratio
37.9%
Understanding the rent-to-income ratio can help renters gauge if local housing costs align with their earnings. A ratio under 30% usually signals affordability, while exceeding this mark means rent is taking a larger-than-recommended bite out of income. That could make it harder for you to cover other costs like transportation, healthcare, or child care.

Employment in New Hope

Workforce and job types in New Hope

The job market in New Hope is powered by 11,273 working residents, spread across a range of industries and roles. 76.9% of the working population are employed in professional or administrative positions, while 23.1% are in hands-on or service-based jobs. Also, 8% run their own businesses, 68.8% are employed by private companies, and 10.2% work in the public sector.

Workforce demographics

Working population
11,273
-0.1% year-over-year change
White collar
8,674
Blue collar
2,599
Value Percent YoY change
White collar 8,674 76.9% -1.9%
Blue collar 2,599 23.1% 6.3%
Employer type
Self employees
8%
Private companies
68.8%
Governmental workers
10.2%
Not for profit companies
13%
Value Percent YoY change
Self employees 897 8% 23.7%
Private companies 7,756 68.8% -2.2%
Governmental workers 1,152 10.2% -8.1%
Not for profit companies 1,468 13% 6.8%
Unemployment rate
5.0%
-6.4% year-over-year change

Available workforce

The unemployment rate in New Hope stands at 5%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in New Hope

How people get around in New Hope

In New Hope, the average commute time is 19 minutes. Commuting methods vary: 79% of residents travel by personal vehicle and 1.5% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Commute time
19 min
-8.1% year-over-year change
Means of transportation
Value Percent YoY change
Car 8,697 79% -2.6%
Taxicab 68 0.6% -12.8%
Bus or trolleybus 71 0.6% -37.7%
Motorcycle 39 0.4% -27.8%
Bicycle 23 0.2% 187.5%
Walk 161 1.5% 4.5%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in New Hope by zipcode?

Zipcode Population Number of households Median income Average income
55427 24,764 10,670 $92,821 $114,641
55428 32,499 12,936 $74,860 $87,827

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FAQs about New Hope demographics 

What is the total population of New Hope?

New Hope has a total population of 21,181 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by -1.0% compared to a year ago.

What is the gender ratio in New Hope?

The gender ratio in New Hope is as follows:
  • 47.4% males (10,030 residents)
  • 52.6% females (11,151 residents)

What is the median age in New Hope?

The median age in New Hope is 40.5.

What is the age distribution of the population in New Hope?

The age distribution in New Hope is as follows:
  • Under 15: 19.7% (4,164 residents)
  • Ages 15-24: 9.4% (1,990 residents)
  • Ages 25-44: 28.9% (6,124 residents)
  • Ages 45-64: 24.1% (5,103 residents)
  • Over 65: 17.9% (3,800 residents)

What is the racial and ethnic makeup of New Hope?

The racial and ethnic makeup of New Hope is as follows:
  • White: 57.7% (12,220 residents)
  • Black or African American: 25.1% (5,321 residents)
  • American Indian and Alaska Native: 0.4% (95 residents)
  • Asian: 3.1% (663 residents)
  • Native Hawaiian and Other Pacific Islander: 0.1% (30 residents)
  • Two or More Races: 9% (1,895 residents)
  • Other: 4.5% (957 residents)

What percentage of the population in New Hope are U.S.-born citizens?

U.S.-born citizens represent 79.4% of the population in New Hope.

How many housing units are there in New Hope?

There are 9,229 housing units in New Hope, reflecting a -2.0% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in New Hope and what is the average household size?

New Hope has a total of 8,875 households, with an average of 2 people in each.

What is the median household income in New Hope?

New Hope has a median household income of $77,662, representing a +5.4% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for New Hope?

The employment rate is 95% in New Hope, with a workforce of 11,273 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 76.9% (8,674 residents)
  • Blue-collar workers: 23.1% (2,599 residents)

Places of employment:
  • Self-employed: 8% (897 residents)
  • Private companies: 68.8% (7,756 residents)
  • Governmental workers: 10.2% (1,152 residents)
  • Not-for-profit companies: 13% (1,468 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025