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EconPulse

Local economy signal dashboard

Saved
PLACEStable

New Hope, MN

Stable overall. GDP / Output is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

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Overall score64out of 100
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75
55
58
71
NA

Population

21,181

Data freshness

Unknown

GDP / Output

+5.1% YoY

75

$193.6B

Output changed +5.1% in 2024.

Vintage date unknown

State growth5.1%
U.S. growth5.3%

Jobs

Unemployment rate

55

4.4%

Unemployment is 4.4% for July 2026.

Vintage date unknown

State avg4.3%
U.S. avg4.1%

Population

+1.3% 5-year

58

21,181

Population moved +1.3% over the latest ACS window.

Vintage date unknown

State population5,739,445
U.S. population334,922,499

Housing

Rent share of income

71

20.6%

Median rent consumes 20.6% of median household income: Affordable.

Vintage date unknown

State rent$1.3K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

Unavailable per resident

NA

Unavailable

Federal spending data is unavailable for this geography.

Vintage date unknown

State totalUnavailable
U.S. total$5.3T
USAspending federal inflow temporarily unavailable.

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

Unavailable

No federal obligations were reported for this geography.

Top agencies

Dollars

No agencies reported.

Top recipients

Dollars

No recipients reported.

Affordable

Housing Affordability

20.6%

of median income

1BR estimate$1,095
2BR estimate$1,442
Median income$77,662
Median home value$337,000

ACS context

Quick Facts

Population

21,181

Median age

40.5

Bachelor's degree+

36.1%

Poverty rate

10.7%

Labor force participation

71.0%

Prime rate

6.8%

CPI YoY

+3.0%

U.S. GDP YoY

+6.6%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

July 2026

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-09-09

HUD Fair Market Rent

Latest available

Data notes
  • USAspending federal inflow temporarily unavailable.
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+0.3%

GDP CAGR

+6.0%

Federal flow

N/A

Population (5 years)
202020,913
202121,683
202221,620
202321,402
202421,181
GDP (5 years)
2020$144.4B
2021$159.1B
2022$173.0B
2023$184.2B
2024$193.6B

2-year linear forecast

Predictive Outlook

Population forecast

202421,181
202521,436 *
202621,462 *

R² = 1.6% · * projected

GDP forecast

2024$193.6B
2025$207.9B *
2026$220.3B *

R² = 99.2% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$77,662/yr
Median rent$1,335/mo
Rent share of income20.6%
Est. mortgage (30yr, 6.5%)$20,449/yr
Mortgage share of income26.3%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate4.4%
State avg4.3%
U.S. avg4.1%
Labor force participation71.0%
Poverty rate10.7%

Data from BLS LAUS / CPS. July 2026.

valuation snapshot

Real Estate

Median home value$337,000
Median monthly rent$1,335
Price-to-rent ratio21.0x

High price-to-rent ratio — renting may be more economical than buying in this market.

composite score

Investment Climate

Investment climateModerate
Composite score64/100
Economic growth75/100
Labor market55/100
Population momentum58/100
Overall stability64/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

New Hope city, Minnesota

City/Town

Part of

Minneapolis-St. Paul-Bloomington, MN-WI

Nearby locations

Crystal, MNRobbinsdale, MNMedicine Lake, MNGolden Valley, MNPlymouth, MN