City · 18,819 residents · Hennepin County, Minnesota
Hopkins, Minnesota
In Hopkins, a typical home is worth $375,600 and typical rent is $1,468 a month. Compared with all of Hennepin County, typical household income is 23% lower and the share of households that own their home is 26 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $291,602 to $329,051.
Typical rent
$1,617a month
▲ 5% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,281 to $1,617.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Hopkins is in Hennepin County. The FHA loan limit ($552,000 for a one-unit home), the fair market rents and the help on this page are those of all of Hennepin County. See the county
What this place has that others do not, from public data, most unusual first.
1
Hopkins has the lowest homeownership rate of the 152 cities in Minnesota with more than 5,000 people: 37%.
2
The typical household income in Hopkins is $75,234,23% less than in Hennepin County as a whole ($97,653).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Hopkins
What homes there are in Hopkins, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Hopkins
Hennepin County
Minnesota
United States
Kind of home: Hopkins and its comparisons
Measure
Hopkins
Hennepin County
Minnesota
United States
Detached house
29%
52%
66%
61%
Attached house
11%
8%
7%
6%
Building of 2 to 4
Unreliable estimate
6%
4%
8%
Apartments (5 or more)
57%
34%
19%
19%
Mobile home
Unreliable estimate
0%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
There are more apartments in Hopkins than in Hennepin County: 57% of homes, against 34%.
Year built
Before 19601960–19791980–19992000–20092010 or later
Hopkins
Hennepin County
Minnesota
United States
Year built: Hopkins and its comparisons
Measure
Hopkins
Hennepin County
Minnesota
United States
Before 1960
27%
36%
29%
26%
1960–1979
41%
24%
23%
24%
1980–1999
22%
21%
24%
25%
2000–2009
5%
8%
13%
14%
2010 or later
5%
11%
10%
11%
By age, homes in Hopkins look like those in Hennepin County: the typical year built is 1973.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K11%
$200K–$300K19%
$300K–$500K46%
$500K–$750K14%
$750K–$1M6%
$1M or moreUnreliable
Value of owner-occupied homes: Hopkins and its comparisons
Measure
Hopkins
Under $100K
Unreliable estimate
$100K–$200K
11%
$200K–$300K
19%
$300K–$500K
46%
$500K–$750K
14%
$750K–$1M
6%
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$9997%
$1,000–$1,49940%
$1,500–$1,99929%
$2,000–$2,49913%
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Hopkins and its comparisons
Measure
Hopkins
Under $500
Unreliable estimate
$500–$999
7%
$1,000–$1,499
40%
$1,500–$1,999
29%
$2,000–$2,499
13%
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
With a mortgage
$2,116 a month
Hennepin County: $2,255 a month
Without a mortgage
$861 a month
Hennepin County: $853 a month
Owners with a mortgage
57%
Hennepin County: 69%
Owning costs less in Hopkins: with a mortgage, the typical cost is $2,116 a month; in Hennepin County, $2,255. Without one, $861.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Hopkins+65%
Hennepin County+42%
Minnesota+47%
United States+53%
Typical rent
Hopkins+42%
Hennepin County+31%
Minnesota+31%
United States+33%
Typical household income
Hopkins+33%
Hennepin County+25%
Minnesota+25%
United States+29%
Change since 2015–2019: Hopkins and its comparisons
Measure
Hopkins
Hennepin County
Minnesota
United States
Typical home value
+65%
+42%
+47%
+53%
Typical rent
+42%
+31%
+31%
+33%
Typical household income
+33%
+25%
+25%
+29%
The typical home value in Hopkins rose 65% since 2015–2019, more than in Hennepin County (42%).
Rents in Hopkins rose faster than in Hennepin County: 42% since 2015–2019, against 31%.
Here income did not keep up with housing: it rose 33%, while home values changed +65% and rent +42%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Hopkins and its comparisons
Measure
Hopkins
Hennepin County
Minnesota
United States
Rental vacancy
Unreliable estimate
5.9%
5.3%
5.5%
Homeowner vacancy
Unreliable estimate
0.6%
0.6%
0.9%
More than one person per room
Unreliable estimate
2.7%
2.3%
3.4%
People per household
1.94
2.30
2.43
2.53
Drive alone
63%
60%
69%
69%
Carpool
9%
6%
8%
9%
Public transit
3%
4%
2%
3%
Walk or bike
Unreliable estimate
4%
3%
3%
Work from home
21%
25%
18%
15%
Other means
Unreliable estimate
2%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
On average, a household in Hopkins has 1.94 people, fewer than in Hennepin County (2.30).
In Hopkins, 9% of workers share a car to get to work; in Hennepin County, 6%.
Do the math
What would you pay each month for a home in Hopkins?
A typical home costs more than the typical income allows
We start with a typical home in Hopkins, worth $375,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 51% of the typical household income in Hopkins, which is $75,234 a year. For that payment to be 28% of income, a household would need to earn about $138,070 a year.
The calculator's FHA and conventional loan limits are those of all of Hennepin County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Hopkins. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $13,146 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$3,222
at 7.18% · 30 years
Loan amount
$368,797
Total interest
$530,612
Paid off in
November 2056
Includes $6,343 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,755 a month
Tight
$1,755 to $2,257 a month
Hard
more than $2,257 a month
Your payment · 51%
Compared with the typical household income in Hopkins ($75,234 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,498
Property tax
$401
Home insurance
$157
FHA mortgage insurance (MIP)
$166
You need at least $13,146 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $3,222; principal and interest $2,498.
The city and its county
Hopkins and Hennepin County
Hopkins is in Hennepin County, Minnesota. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Hopkins
Map of Hennepin County, Minnesota, with Hopkins marked. Around it, the neighboring counties.
Hopkins
Hennepin County
Other cities with a page
Hopkins's own numbers
Typical home value
$375,600
Typical monthly rent
$1,468
Typical yearly household income
$75,234
Households that own their home
37%
Effective property tax rate
1.28%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Hennepin County
FHA limit, one-unit home
$552,000
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,734
Price change over 5 years (FHFA)
+30%
Homes in a high flood-risk zone
0.5%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Hennepin County.
A typical home in Hopkins is worth $375,600: 4% below the county and 14% above Minnesota. With the typical household income in Hopkins ($75,234 a year), a typical home costs 5.0 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Hopkins5.0 years
Hennepin4.0 years
Minnesota3.7 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Hennepin County
According to FHFA’s house price index, home prices in Hennepin County rose 65% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Hennepin County.
Yearly change in FHFA’s price index in Hennepin County, 2016 to 2025
2016: +5.0% +5.0% 2016
2017: +6.5% +6.5% 2017
2018: +6.2% +6.2% 2018
2019: +4.0% +4.0% 2019
2020: +2.9% +2.9% 2020
2021: +8.5% +8.5% 2021
2022: +10.3% +10.3% 2022
2023: +2.5% +2.5% 2023
2024: +2.7% +2.7% 2024
2025: +3.0% +3.0% 2025
Change in FHFA’s price index in Hennepin County, Minnesota and the United States
Period
County
Minnesota
U.S.
Last year (2025)
+3.0%
+2.8%
+2.9%
5 years (2020–2025)
+30%
+37%
+47%
10 years (2015–2025)
+65%
+71%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Hopkins next to Hennepin County, Minnesota and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Hopkins$375,600
Hennepin$392,900
Minnesota$329,300
United States$332,700
Typical monthly rent
Hopkins$1,468
Hennepin$1,487
Minnesota$1,280
United States$1,413
Typical yearly household income
Hopkins$75,234
Hennepin$97,653
Minnesota$89,062
United States$80,734
See the full table
Hopkins next to Hennepin County and Minnesota
Measure
Hopkins
Hennepin County
Minnesota
U.S.
Typical home value
$375,600 ▼4% below the county
$392,900
$329,300
$332,700
Typical monthly rent
$1,468
$1,487
$1,280
$1,413
Typical yearly household income
$75,234 ▼23% below the county
$97,653
$89,062
$80,734
Households that own their home
37% ▼26 points below the county
63%
72%
65%
Typical yearly property tax
$4,796 ▲7% above the county
$4,480
$3,357
$3,119
Effective property tax rate
1.28% ▲0.14 points above the county
1.14%
1.02%
0.94%
Renters with high rent for their income
48%
48%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Hennepin County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Hopkins
For a typical $375,600 home in Hopkins, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Hopkins's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$3,222a month
Least cash to close
Down payment
$13,146
Cash to close
$24,414
Rate
7.18%
Mortgage insurance
FHA MIP · $166
Conventional, 5% down$3,153a month
Down payment
$18,780
Cash to close
$30,048
Rate
7.18%
Mortgage insurance
PMI · $178
Conventional, 20% down, no PMI$2,593a month
Down payment
$75,120
Cash to close
$86,388
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,940a month
Down payment
$56,340
Cash to close
$67,608
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Hopkins
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$3,222
$13,146
$368,797
7.18%
FHA MIP · $166
$24,414
580
Conventional, 5% down
$3,153
$18,780
$356,820
7.18%
PMI · $178
$30,048
620*
Conventional, 20% down, no PMI
$2,593
$75,120
$300,480
7.18%
None
$86,388
620*
ITIN, 15% down (example)
$2,940
$56,340
$319,260
8.18%
None
$67,608
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Hopkins is $1,468 a month: about the same as the county. In Hopkins, 48% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Hennepin County, by unit size. To pay the 2-bedroom one ($1,734 a month) without spending more than 30% of your income, you would need to earn $33.35 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Hennepin County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,265
$24.33
$50,600
1 bedroom
$1,427
$27.44
$57,080
2 bedrooms
$1,734
$33.35
$69,360
3 bedrooms
$2,264
$43.54
$90,560
4 bedrooms
$2,538
$48.81
$101,520
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Hopkins
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Hopkins has 2 ZIP codes with their own.
For 2 bedrooms it runs from $1,890 in 55343 to $2,130 in 55305.
2 of the 2 are above the fair market rent for Hennepin County ($1,734).
Fair market rent by ZIP code and size in Hopkins, fiscal year 2027.
55305
$1,550
$1,750
$2,130
$2,780
$3,120
55343
$1,380
$1,560
$1,890
$2,470
$2,770
ZIP code2 bd3 bd
55305 $2,130$2,780
55343 $1,890$2,470
2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Hopkins when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 6 buildings with rents for lower incomes in Hopkins. These are the largest.
Hopkins Village9 7th Ave S, Hopkins 55343161 homes, 156 low-income · 1 bd: 130 · 2 bd: 31 · In service since 2017 · For older adults, people with disabilities(952) 938-5787
Raspberry Ridge27 14th Ave N, Hopkins 55343144 homes, 101 low-income · For families(952) 933-3260
Dow Towers22 5th Ave S, Hopkins 5534376 low-income homes · Run by Hra of Hopkins, Minnesota · Average payment: $375 a month · Average wait: 17 months(952) 548-6345
Oxford Village439 Blake Rd N, Hopkins 5534351 homes, 50 low-income · Studio: 3 · 1 bd: 7 · 2 bd: 28 · 3 bd: 13 · In service since 2018 · For people with disabilities, families, people experiencing homelessness
Sonoma Apartments44 5th Ave S, Hopkins 5534324 low-income homes · For people with disabilities(651) 639-9799
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 8 HUD-approved agencies with an office in Hennepin County; 3 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Hopkins or Hennepin County. The ones below are statewide in Minnesota: they work in Hopkins the same as in the rest of the state.
Minnesota state agency loan for the down payment and closing costs alongside the Start Up mortgage for first-time buyers: up to $14,000 (or $18,000 in the Plus version), with no interest or monthly payments, repaid at the end of the mortgage.Offered by Minnesota Housing (Minnesota Housing Finance Agency).
Minnesota Housing loan of up to $14,000 for the down payment and closing costs, which you repay over 15 years at the same rate as your Minnesota Housing mortgage; it works with Start Up (first-time buyers) or Step Up.Offered by Minnesota Housing (Minnesota Housing Finance Agency).
No legal help resource on our list is for Hopkins or Hennepin County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Hopkins and all of Hennepin County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Hopkins?
The typical home value in Hopkins is $375,600, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Hennepin County it is $392,900.
How much does it cost to rent in Hopkins?
Typical rent in Hopkins is $1,468 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Hennepin County is $1,734.
What is the FHA loan limit in Hopkins?
Hopkins uses the FHA limit for all of Hennepin County (2026): $552,000 for a one-unit home and $1,061,550 for a four-unit home.
How much property tax do owners pay in Hopkins?
The typical homeowner in Hopkins pays $4,796 a year, according to the U.S. Census Bureau. That is 1.28% of the home’s value; in Hennepin County, the rate is 1.14%.
Where can I find free help to buy or rent in Hopkins?
There are 8 HUD-approved counseling agencies with an office in Hennepin County. 3 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
