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Real Estate Prices & Overview

New Hope North median real estate price is $372,637, which is more expensive than 56.8% of the neighborhoods in Minnesota and 51.3% of the neighborhoods in the U.S.

The average rental price in New Hope North is currently $1,896, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.7% of the neighborhoods in Minnesota.

New Hope North is an urban neighborhood (based on population density) located in New Hope, Minnesota.

New Hope North real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the New Hope North neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in New Hope North are 4.2%, which is lower than one will find in 71.8% of American neighborhoods. Demand for real estate in New Hope North is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Diversity

Did you know that the New Hope North neighborhood has more Sub-Saharan African and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 17.2% of this neighborhood's residents have Sub-Saharan African ancestry and 2.8% have Danish ancestry.

New Hope North is also pretty special linguistically. Significantly, 4.6% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 97.3% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the New Hope North neighborhood in New Hope are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 53.1% of the neighborhoods in America. In addition, 7.5% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 57.3% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the New Hope North neighborhood, 41.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 20.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.9%), and 17.6% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the New Hope North neighborhood is English, spoken by 78.8% of households. Other important languages spoken here include Spanish and French.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the New Hope North neighborhood in New Hope, MN, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (17.2%). There are also a number of people of German ancestry (16.1%), and residents who report Norwegian roots (7.3%), and some of the residents are also of Mexican ancestry (5.7%), along with some Swedish ancestry residents (5.7%), among others. In addition, 21.9% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in New Hope North neighborhood spend between 15 and 30 minutes commuting one-way to work (58.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (77.6%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (10.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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