Why Live in Elm Grove
Elm Grove in New Hope is a neighborhood characterized by its single-family homes, featuring ranch-style and new traditional architecture. Homes here are smaller, averaging around 1,400 square feet, and are priced significantly below the Minneapolis metro area average. The community is balanced between homeowners and renters, with rental options available at complexes like Wingate Apartments. While not all streets have sidewalks, the area is enriched with several small parks, including Elm Grove Park, Iron Horse Park, Sunnyside Park, Forest Park, Little Acre Park, and Begin Park, ensuring that most residents have a park within a mile. The New Hope Ice Arena, a notable local feature, hosts hockey and skating events and offers lessons through the New Hope Skating School. For shopping and dining, the Crystal Shopping Center is just a mile away, featuring a mix of local and chain restaurants such as Tequila Town Authentic Mexican Cuisine and Jin’s Chow Mein, as well as grocery options like Target and Supermercado y Panaderia LomaBonita. Elm Grove is car-dependent, located 11 miles northwest of Minneapolis, with Metro Transit bus routes available but requiring transfers and over an hour of travel time to reach the city. The Minneapolis-Saint Paul International Airport is 23 miles away.
Frequently Asked Questions
Is Elm Grove a good place to live?
Elm Grove is a good place to live. Elm Grove is considered car-dependent and somewhat bikeable with some transit options. It has a median age of 35. The average household income is $72,551 which is below the national average. College graduates make up 25.8% of residents. A majority of residents in Elm Grove are renters, with 50.5% of residents renting and 49.5% of residents owning their home. A
local real estate agent serving Elm Grove can help you decide if this neighborhood is the right one for you. Learn more on our
Elm Grove neighborhood guide.
How much do you need to make to afford a house in Elm Grove?
The median home price in Elm Grove is $347,500. If you put a 20% down payment of $69,500 and had a 30-year fixed mortgage with an interest rate of 6.26%, your estimated principal and interest payment would be $1,710 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $73K a year to afford the median home price in Elm Grove. The average household income in Elm Grove is $73K.
What are the best public schools in Elm Grove?
The best public schools that serve Elm Grove are:
What are the best private schools in Elm Grove?
The best private schools that serve Elm Grove are:
What are the most popular zip codes in Elm Grove, New Hope, MN?
What are the most popular neighborhoods near Elm Grove, New Hope, MN?
Are home prices dropping in Elm Grove?
Yes, home prices in Elm Grove are down 8% in the last 12 months.
Home Trends in Elm Grove, MN
On average, homes in Elm Grove, New Hope sell after 21 days on the market compared to the national average of 52 days. The median sale price for homes in Elm Grove, New Hope over the last 12 months is $350,000, up 3% from the median home sale price over the previous 12 months.
Median Sale Price
$350,000
Median Single Family Sale Price
$347,500
Average Price Per Sq Ft
$214
Number of Homes for Sale
3
Last 12 months Home Sales
5
Median List Price
$347,500
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
3%