Rents are right about where Hopkins's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,617 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in Hopkins usually run 1% below trend in December and 1% above it in July, about $32 a month apart at today's median. Based on 6 years of data.
Rent in Hopkins is at its highest level since Zillow's records here began in February 2020.
Rent in Hopkins changed +4.9% over the year to September 2026. Across the 53 Minnesota cities Zillow tracks, the typical change was +3.4%.
Rent in Hopkins is 34.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 9 of the last 12 months.
30% of the median household income ($75,234) is $1,881 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,730); a 3-bedroom is $2,300.
Crystal, 7 miles away, rents for 14% less ($1,385/mo), about $2,800 a year in savings.
From Zillow's monthly rent index (ZORI) for Hopkins. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Hopkins, MN is majority renter-occupied, 45.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Hopkins, MN has changed in 5 years
The median rent in Hopkins, MN stood at $1,218 in 2021 and currently runs about $1,617, reflecting a 32.8% 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.
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Can you afford rent in Hopkins on your salary?
At $1,617/mo, how Hopkins rent compares to typical pay (30% rule).
Hopkins rent by bedroom count
Median rent for each apartment size in Hopkins. Click any size for full breakdown.
Tips for renters in Hopkins
Last updated: October 17, 2026
The median rent in Hopkins is $1,617/mo as of October 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 26% of local median household income ($75,234/yr), Hopkins ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.9% over the past year.
Frequently asked questions
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Is rent going up or down in Hopkins?
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How does Hopkins rent compare to other cities in Minnesota?
Which nearby cities are cheaper to rent in than Hopkins?
At $1,617/mo, rent takes ~26% of Hopkins's median household income ($75,234/yr). The standard benchmark is 30%.
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