Hopkins, MN—55343
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hopkins, MN
As of Oct '25, the median home price in Hopkins, MN is $336,000, with a year-over-year change of 1.8%. This indicates that home prices in Hopkins, MN are increasing. According to Zillow, the 1-year price projection is -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $336,000 | 1.9% |
| Single Family | $379,000 | 1.9% |
| Condos | $152,000 | -3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $131,000 | -1.5% |
2 Bed | $248,000 | -1.2% |
3 Bed | $376,000 | 2.2% |
4 Bed | $489,000 | 2.5% |
| 5 Bed | $671,000 | 1.4% |
% of Housing Stock
Rental Trends — Hopkins, MN
As of July '25, Rentcast reports the average rent in Hopkins, MN is $1,710, with a year-over-year rent change of 3.6%. Per bedroom, the median rent as of July '25 in Hopkins, MN is studios: $1,280, 1-bedrooms: $1,350, 2-bedrooms: $1,760, 3-bedrooms: $2,480, 4-bedrooms: $3,140. The most common rental property sizes in Hopkins, MN are 2-bedroom and 1-bedroom, accounting for 43.2% and 39.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,710 |
| Studio Rent | $1,300 | $1,280 |
| 1 Bed Rent | $1,280 | $1,350 |
| 2 Bed Rent | $1,600 | $1,760 |
| 3 Bed Rent | $2,380 | $2,480 |
| 4 Bed Rent | $2,900 | $3,140 |
% of Rental Stock
Property Listings — Hopkins, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Hopkins, MN is 44. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $292,000 | -9.0% |
Listing Count | 77 | -15.0% |
| Listings as % of Homes | 0.3% | -15.0% |
Days on Market | 44 | 0.0% |
Demographics — Hopkins, MN
As of the latest ACS Survey released in 2023, Hopkins, MN has a population of 26,500, which has increased by 5.1% over the past 5 years. Hopkins, MN is a moderately popular place for families, as children make up 18.7% of the population. The area has a highly educated workforce, with 51.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,500 | 5.1% |
% Under 18 | 18.7% | -7.0% |
% Seniors | 18.3% | 26.2% |
% WFH | 20.7% | 370.5% |
% w/ College Degree | 51.7% | 12.4% |
As of the latest ACS Survey released in 2023, Hopkins, MN is a predominantly white area, with 66.4% of the population identifying as white. The white population has grown by 4.4% in the last 5 years. The second most common race or ethnicity in Hopkins, MN is black, making up 16.6% of the population. Foreign-born residents account for 11.8% of the population in Hopkins, MN, and this percentage has decreased by 34.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.4% | 4.4% |
% Black | 16.6% | -7.8% |
% Hispanic | 4.2% | -43.2% |
% Asian | 4.2% | -47.5% |
% Foreign Born | 11.8% | -34.8% |
Mortgage and Risk — Hopkins, MN
According to HUD data as of 2023, there were 327 mortgage originations in Hopkins, MN, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Hopkins, MN. Investor activity is low, as 4.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 327 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Hopkins, MN
As of 2024, the percent of homes in Hopkins, MN under the Section 8 program is 9.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Hopkins, MN, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 803 |
Total Units Section 8 | 689 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 94.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $1,280 | $1,420 |
| 2 Bedroom | $130 | $1,600 | $1,730 |
| 3 Bedroom | -$80 | $2,380 | $2,300 |
| 4 Bedroom | -$320 | $2,900 | $2,580 |
Affordability — Hopkins, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $336,000 |
| Median Household Income | $82,400 |