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ZIP Code · MN

ZIP 55343

Part of Hopkins, MN
Pop. 27,102·Hennepin County·69th most expensive ZIP in Minnesota
Median rent (all units)
$1,628/mo
Year-over-Year
+3.7%
Month-over-Month
+0.3%
vs US Median
-$337
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 55343 · $1,628
More affordable than 64% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,310
1 BR
$1,480
2 BR
$1,800
3 BR
$2,380
4 BR+
$2,670
Research median
$1,800/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
$19,536/yr
At $1,628/mo median
Location
StateMN
CountyHennepin County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (3.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+3.7% YoY, +0.3% MoM), not inventory.
Demographics

Who lives here

ZIP 55343 (Hopkins, MN) is roughly split between renters and owners, 51.4% of residents hold a bachelor's degree or higher.

Population
27,102
Median income
$83,143
Median age
38.3
Renters
53.5%
Age distribution
18.4%
28.3%
22.6%
12.7%
18.1%
Under 1818.4%
18–3428.3%
35–5422.6%
55–6412.7%
65+18.1%
Gender
47.4%
52.6%
Male47.4%
Female52.6%
Race & ethnicity
66.9%
17.1%
White66.9%
Black17.1%
Hispanic4.2%
Asian4%
Other7.8%
Education (25+)
17.4%
27.7%
51.4%
No HS diploma3.4%
HS diploma17.4%
Some college27.7%
Bachelor's+51.4%
Housing tenure
46.5%
53.5%
Owner46.5%
Renter53.5%

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

2021 vs 2026

How ZIP 55343 in Hopkins, MN has changed in 5 years

Rent
$1,307 → $1,628
up 24.6%
Income
$71,659 → $83,143
up 16.0%
Population
26,472 → 27,102
up 2.4%
Renter share
57.1% → 53.5%
-3.6 pts
Bachelor's+
51% → 51.4%
+0.4 pts
Median age
36.3 → 38.3
+2.0 yrs

The median rent in ZIP 55343 in Hopkins, MN stood at $1,307 in 2021 and currently runs about $1,628, reflecting a 24.6% increase over the period. Median household income rose from $71,659 to $83,143 between 2021 and 2024, a 16.0% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 2.4% since 2021, moving from about 26,472 residents to roughly 27,102. Renters now make up 53.5% of households, compared with 57.1% five years ago. Taken together, the five-year picture in ZIP 55343 in Hopkins, MN reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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Local insights

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About renting in ZIP 55343

Last updated: July 20, 2026

ZIP code 55343 covers Hopkins, MN. The median rent here is $1,628/mo as of July 2026. A 1-bedroom rents for a median of $1,480/mo. A 2-bedroom rents for a median of $1,800/mo.

At 23% of local median household income ($83,143/yr), ZIP 55343 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55343?

As of July 20, 2026, the median monthly rent in ZIP 55343 (Hopkins, MN) is $1,628. This is based on aggregated data from public sources and community submissions.

How does ZIP 55343 rent compare to the US average?

ZIP 55343's median rent of $1,628/mo is $337 (17%) below the US national median of $1,965/mo.

How does ZIP 55343 compare to other ZIPs in Minnesota?

ZIP 55343 falls in the middle range for Minnesota, ranking #69 out of 123 ZIPs at $1,628/mo.

How much income do you need to rent in ZIP 55343?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (~$31/hour full-time) to afford the median rent of $1,628/mo in ZIP 55343. The local median household income is $83,143/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55343?

Rent in ZIP 55343 has increased 3.7% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 55343 an affordable place to rent?

ZIP 55343 is considered very affordable for renters. At $1,628/mo, rent takes approximately 23% of the local median household income ($83,143/yr). The standard benchmark is 30%. ZIP 55343 falls comfortably within that range.

What percentage of ZIP 55343 residents rent vs. own?

According to Census data, approximately 53.5% of ZIP 55343 households are renters, while 46.5% are owner-occupied. With a majority renter population, ZIP 55343 has a strong rental market.

How does ZIP 55343 compare to the rest of Hopkins?

ZIP 55343 is pricier than Hopkins as a whole. At $1,628/mo, it's $89 above the Hopkins citywide median of $1,539/mo.

When was rent data for ZIP 55343 last updated?

Rent data for ZIP 55343 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $1,628/mo, rent takes ~23% of ZIP 55343's median household income ($83,143/yr). The standard benchmark is 30%.

ZIP 55343 23%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55343 (Hopkins, MN)

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