HomeMinnesotaHennepin CountyNew Hope
New Hope, Minnesota: commercial real estate data.
New Hope is a Census city of 21,181 people across 5.06 square miles of land, in Hennepin County. Median household income is $77,662, 52.6 percent of occupied homes are owned, and the SBA record carries 22 7(a) approvals to borrowers here worth $12.6 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
New Hope
What New Hope is
- Census place typecity
- Land area5.06 sq mi
- Water area0.06 sq mi
- Population per square mile of land4,188
- County holding the largest share of its areaHennepin County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Hope
How many people live in New Hope
- Population21,181
- Median age40.5
- Population under 184,823
- Share under 1822.8 percent
- Population 65 and over3,800
- Share 65 and over17.9 percent
- Households8,875
- Family households5,416
- Share of households that are families61.0 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Hope
Income and work in New Hope
- Median household income$77,662
- Per capita income$40,928
- Civilian labor force11,869
- Employed11,273
- Unemployed596 plus or minus 207
- Unemployment rate5.0 percent plus or minus 1.7
- Adults 25 and over15,027
- Adults 25 and over with a high school diploma or higher94.7 percent
- Adults 25 and over with a bachelor degree or higher36.1 percent
- Adults 25 and over with a graduate degree10.8 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Hope
Housing in New Hope
- Housing units9,229
- Occupied units8,875
- Vacant units354 plus or minus 120
- Vacancy rate3.8 percent plus or minus 1.3
- Owner occupied4,666
- Renter occupied4,209
- Ownership rate52.6 percent
- Median owner-occupied home value$337,000
- Median gross rent, monthly$1,335
- Annual rent as a share of median income20.6 percent
- Single family units4,825
- Share single family52.3 percent
- Units in buildings of two or more4,391
- Share in buildings of two or more47.6 percent
- Mobile homes13 plus or minus 22
- Median year structure built1969
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Hope
How New Hope gets to work
- Workers 16 and over who commute9,215
- Commuting under 15 minutes2,718
- Share commuting under 15 minutes29.5 percent
- Commuting 30 minutes or more1,710
- Share commuting 30 minutes or more18.6 percent
- Drove alone70.3 percent
- Carpooled8.7 percent plus or minus 2.5
- Public transport0.6 percent plus or minus 0.4
- Walked1.5 percent plus or minus 0.6
- Worked from home16.3 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Hope
SBA loans in New Hope (7(a))
- Approvals22
- Gross approval$12,610,200
- Average approval$573,191
- Median approval$350,000
- Ninetieth percentile approval$1,260,900
- Largest approval$3,420,000
- Jobs supported463
- Jobs per approval21.0
- Loans with a final outcome3
- Paid in full3
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more13.6 percent
- Share to franchises13.6 percent
- Distinct lenders14
- Distinct industries by NAICS15
Counted by borrower city: approvals to borrowers whose address is in New Hope, in any county, FY2020 to FY2026. Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
New Hope
SBA loans in New Hope (504)
- Approvals16
- Gross approval$16,399,000
- Average approval$1,024,938
- Median approval$697,000
- Largest approval$2,397,000
- Jobs supported151
- Loans with a final outcome3
- Charged off0
- Median term240 months
- Distinct CDCs6
Counted by borrower city: approvals to borrowers whose address is in New Hope, in any county, FY2010 to FY2026. Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
New Hope
Flood risk in New Hope
- NFIP communityCity of New Hope
- NFIP community number270177
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date11/04/16
The City of New Hope participates in the National Flood Insurance Program as community 270177 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Hennepin County, not New Hope
Hennepin County context, not New Hope figures
- Establishments in Hennepin County40,486
- Covered employment, Hennepin County917,117
- Average annual pay, Hennepin County$90,157
- Housing units permitted, Hennepin County3,919
Every figure in this section is published for Hennepin County as a whole and is not a measurement of New Hope.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Common questions
New Hope questions, answered from the record.
How many people live in New Hope, Minnesota?
21,181, in 8,875 households. New Hope city covers 5.06 square miles of land, which is 4,188 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is New Hope in?
Hennepin County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in New Hope?
$77,662. The median owner-occupied home is valued at $337,000. Median gross rent is $1,335 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to New Hope businesses?
22 7(a) approvals totaling $12.6 m since FY2020, across 14 lenders, median approval $350,000, plus 16 504 approvals worth $16.4 m since FY2010. These count approvals to borrowers whose address is in New Hope, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to New Hope borrowers get paid back?
No rate is published for New Hope. Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is New Hope in the National Flood Insurance Program?
Yes. New Hope appears in the FEMA Community Status Book as New Hope, city of, community 270177, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page New Hope figures?
No, and they are labeled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Hennepin County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of New Hope.
Is zoning published for New Hope?
No. Nothing on this page presents parcel level zoning.