Royal Oaks Apartments
8015 36th Ave N,
New Hope, MN 55427
$1,270 - $1,790 Total Monthly Price
Studio - 2 Beds
Rental Market Trends in New Hope, MN
What is the average rent in New Hope, MN?
$1,170/month
Average Rent
767 Sq Ft
Average Apartment Size
+0.3%
Increase in the Last Year
As of March 2026, the average rent in New Hope, MN is $1,170 per month. This is 28% lower than the national average rent of $1,626/month, making renting in New Hope more affordable than most cities in the US. When you rent an apartment in New Hope, you can expect to pay about $1,283 per month for a studio, $1,170 for a one-bedroom apartment, and around $1,405 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,839 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in New Hope, MN?
In the past year, rent has increased by 0.3%, which averages out to $4 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2026
Legend
2025
2026
Rent Ranges in New Hope, MN
Last Updated March 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
5%
$700 - $1,000/month
86%
$1,001 - $1,500/month
10%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in New Hope, MN?
Because the average rent in New Hope is $1,170, you’ll want to make about $3,900 per month or $46,800 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does New Hope, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare New Hope, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
* Percentages may not total 100 due to rounding.