New Hope, Crystal, MN—55427
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Hope, Crystal, MN
As of Oct '25, the median home price in New Hope, Crystal, MN is $357,000, with a year-over-year change of 2.7%. This indicates that home prices in New Hope, Crystal, MN are increasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $357,000 | 2.7% |
| Single Family | $365,000 | 2.8% |
| Condos | $139,000 | 0.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $118,000 | 0.0% |
2 Bed | $291,000 | 2.8% |
3 Bed | $351,000 | 3.2% |
4 Bed | $412,000 | 2.2% |
| 5 Bed | $474,000 | 3.0% |
% of Housing Stock
Rental Trends — New Hope, Crystal, MN
As of July '25, Rentcast reports the average rent in New Hope, Crystal, MN is $1,810, with a year-over-year rent change of -10.0%. Per bedroom, the median rent as of July '25 in New Hope, Crystal, MN is studios: $1,260, 1-bedrooms: $1,240, 2-bedrooms: $1,540, 3-bedrooms: $2,380, 4-bedrooms: $2,540. The most common rental property sizes in New Hope, Crystal, MN are 1-bedroom and 2-bedroom, accounting for 38.5% and 33.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,640 | $1,810 |
| Studio Rent | $1,260 | $1,260 |
| 1 Bed Rent | $1,180 | $1,240 |
| 2 Bed Rent | $1,500 | $1,540 |
| 3 Bed Rent | $2,300 | $2,380 |
| 4 Bed Rent | $2,520 | $2,540 |
% of Rental Stock
Property Listings — New Hope, Crystal, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in New Hope, Crystal, MN is 29. This is a increase of 16.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $366,000 | 3.0% |
Listing Count | 77 | 22.0% |
| Listings as % of Homes | 0.4% | 22.0% |
Days on Market | 29 | 16.0% |
Demographics — New Hope, Crystal, MN
As of the latest ACS Survey released in 2023, New Hope, Crystal, MN has a population of 24,700, which has increased by 7.4% over the past 5 years. New Hope, Crystal, MN is a moderately popular place for families, as children make up 19.3% of the population. The area has a highly educated workforce, with 48.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,700 | 7.4% |
% Under 18 | 19.3% | -5.4% |
% Seniors | 17.5% | -1.7% |
% WFH | 22.6% | 352.0% |
% w/ College Degree | 48.9% | 8.2% |
As of the latest ACS Survey released in 2023, New Hope, Crystal, MN is a predominantly white area, with 70.3% of the population identifying as white. The white population has shrunk by 9.4% in the last 5 years. The second most common race or ethnicity in New Hope, Crystal, MN is black, making up 12.8% of the population. Foreign-born residents account for 12.8% of the population in New Hope, Crystal, MN, and this percentage has increased by 32.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 70.3% | -9.4% |
% Black | 12.8% | 10.3% |
% Hispanic | 6.2% | 87.9% |
% Asian | 3.6% | 0.0% |
% Foreign Born | 12.8% | 32.0% |
Mortgage and Risk — New Hope, Crystal, MN
According to HUD data as of 2023, there were 521 mortgage originations in New Hope, Crystal, MN, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in New Hope, Crystal, MN. Investor activity is low, as 2.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 521 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — New Hope, Crystal, MN
As of 2024, the percent of homes in New Hope, Crystal, MN under the Section 8 program is 9.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in New Hope, Crystal, MN, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 337 |
Total Units Section 8 | 331 |
% Rentals under Section 8 | 9.4% |
% Occupied Section 8 | 93.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $1,180 | $1,400 |
| 2 Bedroom | $210 | $1,500 | $1,710 |
| 3 Bedroom | -$20 | $2,300 | $2,280 |
| 4 Bedroom | $30 | $2,520 | $2,550 |
Affordability — New Hope, Crystal, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $357,000 |
| Median Household Income | $92,000 |