Can A Carpenter Afford Rent in New Hope, MN?
Comfortably affordable — rent takes 27.3% of gross income.
New Hope rent: June 2026. Salary: BLS OEWS May 2024 (Minnesota state estimate).
About rent and a carpenter salary
Carpenter pay sits modestly above the US median household income and covers comfortable rent in most lower- and mid-cost metros. Union carpenters in high-cost cities often earn well above the BLS mean. At the national-average carpenter salary, the 30% rule supports about $1,524 a month in rent.
Cheaper rent nearby
These Minnesota cities have lower median rent than New Hope, which improves the affordability math on a carpenter salary:
Compare with full rent data for New Hope
View full rent data for New Hope, MN →Frequently asked questions
Can a carpenter afford rent in New Hope, MN?
Median rent in New Hope is $1,442 a month. A typical carpenter in Minnesota earns about $63,378 a year, which makes that rent 27.3% of gross monthly income. Under the 30% rule, the answer is yes.
How much rent can a carpenter afford in New Hope?
Using the 30% rule, a carpenter salary in Minnesota (~$63,378/yr) supports up to $1,584 a month in rent. New Hope's current median rent is $1,442/mo, which leaves a $142/mo buffer.
How many hours does a carpenter work to cover rent in New Hope?
At an hourly equivalent of about $30 an hour, a carpenter in Minnesota works roughly 47.3 hours a month to cover New Hope's median rent of $1,442.
Where is rent cheaper than New Hope for a carpenter?
Nearby Minnesota cities with lower median rent include New Brighton ($1,441/mo), Fridley ($1,441/mo), Saint Paul ($1,439/mo). Each shifts the affordability math materially on a carpenter salary.