New Hope, MN
Discover how far your salary goes in New Hope. Compare taxes, rent, and living costs.
21,986
9.8%
$1,463
/month
+5%
above avg
How far would your salary go in New Hope?
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Rent Prices in New Hope
Studio
$1,170
/month
$14,040/year
1 Bedroom
$1,463
/month
$17,556/year
2 Bedroom
$1,975
/month
$23,700/year
3 Bedroom
$2,560
/month
$30,720/year
Taxes in Minnesota
State Income Tax
Minnesota
For a $100k salary, that's ~$9,850/year in state taxes.
Federal Income Tax
Same nationwide
Federal taxes use progressive brackets. The more you earn, the higher your marginal rate.
Learn how tax brackets workMore Affordable Alternatives
Cities with lower cost of living where your money goes further:
Frequently Asked Questions
What is the cost of living in New Hope, MN?▼
New Hope has a cost of living index of 125, which is 25% above the national average. A 1-bedroom apartment costs around $1,463/month.
What is the state income tax in Minnesota?▼
Minnesota has a state income tax rate of approximately 9.8%. This is in addition to federal income tax.
How much is rent in New Hope?▼
The median rent for a 1-bedroom apartment in New Hope is $1,463/month. For a 2-bedroom, expect to pay around $1,975/month. This is 5% above the national average.
Is New Hope a good place to live?▼
New Hope is a town with a population of 21,986. The cost of living is above average, making it more expensive than average for the US.
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