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City Report · MN

Hopkins

Pop. 18,819·45th most expensive in Minnesota·Hopkins rents are up 9.5% over the past year
Median rent (all units)
$1,539/mo
Year-over-Year
+9.5%
Month-over-Month
Stable
vs US Median
-$426
Stable (Monthly)
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Most AffordableMost Expensive
Hopkins · $1,539
More affordable than 73% of US cities · National median $1,965/mo
Rent Reality Score
45/100
Fairly priced
OverheatedFairGreat value

Rents are 3% above what Hopkins's 10-year trend predicts — running hotter than its own history.

Actual rent
$1,539/mo
Expected by trend
$1,500/mo
The Rent Reality Score compares today's median rent to where Hopkins's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,250
1 BR
$1,420
2 BR
$1,730
3 BR
$2,300
4 BR+
$2,580
Research median
$1,730/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$18,468/yr
At $1,539/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 9.5% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+9.5% YoY, -0.1% MoM), not inventory.
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Demographics

Who lives here

Hopkins, MN is majority renter-occupied, 45.6% of residents hold a bachelor's degree or higher.

Population
18,819
Median income
$75,234
Median age
37.8
Renters
63.5%
Age distribution
18.4%
28.7%
23.6%
12.1%
17.1%
Under 1818.4%
18–3428.7%
35–5423.6%
55–6412.1%
65+17.1%
Gender
46.9%
53.1%
Male46.9%
Female53.1%
Race & ethnicity
63.4%
20.8%
White63.4%
Black20.8%
Hispanic5.2%
Asian3.5%
Other7%
Education (25+)
18.9%
29.8%
45.6%
No HS diploma5.7%
HS diploma18.9%
Some college29.8%
Bachelor's+45.6%
Housing tenure
36.5%
63.5%
Owner36.5%
Renter63.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Hopkins, MN has changed in 5 years

Rent
$1,142 → $1,539
up 34.8%
Income
$60,824 → $75,234
up 23.7%
Population
18,861 → 18,819
down 0.2%
Renter share
67.1% → 63.5%
-3.6 pts
Bachelor's+
47.5% → 45.6%
-1.9 pts
Median age
34.8 → 37.8
+3.0 yrs

The median rent in Hopkins, MN stood at $1,142 in 2021 and currently runs about $1,539, reflecting a 34.8% increase over the period. Local incomes tracked alongside that move, going from a median of $60,824 in 2021 to $75,234 more recently. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 63.5% of households, compared with 67.1% five years ago. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Hopkins, MN market of 2021.

Community

Discussions about Hopkins

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View Hopkins rent history (2015–2026) →
Salary vs rent

Can you afford rent in Hopkins on your salary?

At $1,539/mo, how Hopkins rent compares to typical pay (30% rule).

By apartment size

Hopkins rent by bedroom count

Median rent for each apartment size in Hopkins. Click any size for full breakdown.

Local insights

Tips for renters in Hopkins

About renting in Hopkins, MN

Last updated: July 20, 2026

The median rent in Hopkins is $1,539/mo as of July 2026. A studio apartment averages $1,250/mo while a 2-bedroom runs $1,730/mo. One-bedroom apartments average $1,420/mo and 3-bedroom units go for $2,300/mo.

At 25% of local median household income ($75,234/yr), Hopkins ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.5% over the past year.

FAQ

Frequently asked questions

Is Hopkins an affordable city for renters?

Hopkins is considered affordable for renters. At $1,539/mo, rent takes approximately 25% of the local median household income ($75,234/yr). The standard benchmark is 30%. Hopkins falls comfortably within that range.

How much income do you need to rent in Hopkins?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (~$30/hour full-time) to afford the median rent of $1,539/mo in Hopkins. The local median household income is $75,234/yr, meaning the typical Hopkins household meets that threshold.

Is rent going up or down in Hopkins?

Rent in Hopkins has increased 9.5% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Hopkins rent compare to other cities in Minnesota?

Hopkins is one of the more affordable cities in Minnesota for rent, ranking #45 out of 67 tracked cities at $1,539/mo.

What percentage of Hopkins residents rent vs. own?

According to Census data, approximately 63.5% of Hopkins households are renters, while 36.5% are owner-occupied. With a majority renter population, Hopkins has a strong rental market.

How does Hopkins rent compare to the national average?

Hopkins's median rent of $1,539/mo is $426 (22%) below the US national median of $1,965/mo. Within Minnesota, it ranks #45 out of 67 tracked cities.
Income Affordability
25%
AFFORDABLE

At $1,539/mo, rent takes ~25% of Hopkins's median household income ($75,234/yr). The standard benchmark is 30%.

Hopkins 25%Benchmark 30%
State income tax5.35–9.85%
Run the Hopkins affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Hopkins, MN

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