Royal Oaks Apartments
8015 36th Ave N,
New Hope, MN 55427
Studio - 2 Beds | $1,280 - $1,780
Rental Market Trends in New Hope, MN
Updated July 2026
The average rent in New Hope, MN is $1,188/month.
Rent in New Hope is 29% lower than the national average rent of $1,662/month, making this one of the less expensive cities statewide.
$1,188/month
Average Rent
767 Sq Ft
Average Size
+3.3%
Change / Year
409
Available Apartments
New Hope rent varies by unit size and layout:
- Studio apartments in New Hope average $1,360 per month.
- One-bedroom apartments in New Hope average $1,188 per month.
- Two-bedroom apartments in New Hope average $1,452 per month.
- Three-bedroom apartments in New Hope average $1,819 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in New Hope, MN?
In the past year, rent has increased by 3.3%, which averages out to $40 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in New Hope, MN
July 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 $1,188, you’ll want to make about $3,960 per month or $47,520 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.
View the New Hope Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in New Hope?
The average rent in New Hope is $1,188 per month, which is 28.5% lower than the national average of $1,662.
What is the average rent for a house in New Hope?
The average rent for a house in New Hope, MN is $2,588 per month.
Are rents going up or down in New Hope?
Rents in New Hope, MN are increasing, with prices up 3.3% year-over-year and $40 more per month.
What rent range is most common in New Hope?
In New Hope, MN, 86% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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 June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.