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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Hopkins, MN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hopkins, MN Housing Market Trends

With 18,269 people, 9,153 houses or apartments, and a median cost of homes of $394,413, Hopkins real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Hopkins, accounting for 57.54% of the city's housing units. Other types of housing that are prevalent in Hopkins include single-family detached homes ( 28.38%), row houses and other attached homes ( 10.35%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.59%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Hopkins is dominated by renter-occupied one, two, or no bedrooms apartments. 66.26% of Hopkins's dwellings are rentals.

There is a lot of housing in Hopkins built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hopkins built between 1940-1969 ( 37.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.71%). There's also some housing in Hopkins built before 1939 ( 8.89%).

Hopkins Home Appreciation Rates

Hopkins's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hopkins during the period has been just 5.21%, which is lower than 70% of US communities.

Over the last year, Hopkins appreciation rates have trailed the rest of the nation. In the last twelve months, Hopkins's appreciation rate has been 1.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hopkins were at -2.13%, which equates to an annual appreciation rate of -8.26%.

Notably, Hopkins's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Minnesota, our data show that Hopkins's latest annual appreciation rate is lower than 70% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hopkins differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hopkins - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Hopkins real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$394,413

Hopkins, MN Home Prices
> $1,189,000
$892,001 - $1,189,000
$595,001 - $892,000
$475,001 - $595,000
$357,001 - $475,000
$238,001 - $357,000
$119,001 - $238,000
$59,001 - $119,000
$0 - $59,000
3.3%
3.3%
3.5%
3.5%
8.0%
8.0%
17.9%
17.9%
22.7%
22.7%
26.5%
26.5%
14.1%
14.1%
0.8%
0.8%
3.3%
3.3%
0% 100.0%
% of Homes
High

for Minnesota

High

for nation

Number of Homes And Apartments:

9,153

Hopkins Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,752 / per month

Homeownership Rate

Owners
Renters
33.7%
33.7%
66.3%
66.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.8%
5.8%
94.2%
94.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.7%
9.7%
44.1%
44.1%
37.3%
37.3%
8.9%
8.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
28.4%
28.4%
10.3%
10.3%
3.6%
3.6%
57.5%
57.5%
0.0%
0.0%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
7.3%
7.3%
28.5%
28.5%
36.4%
36.4%
17.1%
17.1%
7.4%
7.4%
3.3%
3.3%
0% 100.0%
% of Homes