Can A Real Estate Agent Afford Rent in New Hope, MN?
Comfortably affordable — rent takes 25.4% of gross income.
New Hope rent: June 2026. Salary: BLS OEWS May 2024 (Minnesota state estimate).
About rent and a real estate agent salary
Real estate agent pay is commission-driven and varies widely with local market conditions. The BLS mean averages high and low producers. At the national-average agent salary, the 30% rule supports about $1,640 a month in rent — though successful agents in active markets earn well above this.
Cheaper rent nearby
These Minnesota cities have lower median rent than New Hope, which improves the affordability math on a real estate agent salary:
Compare with full rent data for New Hope
View full rent data for New Hope, MN →Frequently asked questions
Can a real estate agent afford rent in New Hope, MN?
Median rent in New Hope is $1,442 a month. A typical real estate agent in Minnesota earns about $68,203 a year, which makes that rent 25.4% of gross monthly income. Under the 30% rule, the answer is yes.
How much rent can a real estate agent afford in New Hope?
Using the 30% rule, a real estate agent salary in Minnesota (~$68,203/yr) supports up to $1,705 a month in rent. New Hope's current median rent is $1,442/mo, which leaves a $263/mo buffer.
How many hours does a real estate agent work to cover rent in New Hope?
At an hourly equivalent of about $33 an hour, a real estate agent in Minnesota works roughly 44 hours a month to cover New Hope's median rent of $1,442.
Where is rent cheaper than New Hope for a real estate agent?
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 real estate agent salary.