Hopkins, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hopkins Neighborhoods Since 2000




Hopkins, MN Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hopkins Housing Market Information

With 18,076 people, 7,984 houses or apartments, and a median cost of homes of $241,510, 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 56.68% of the city's housing units. Other types of housing that are prevalent in Hopkins include single-family detached homes ( 30.02%), row houses and other attached homes ( 7.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.44%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Hopkins is dominated by renter-occupied one, two, or no bedrooms apartments. 65.89% 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 ( 38.58%). A lesser amount of the housing stock also hails from before 1939 ( 10.17%). There's also some housing in Hopkins built between 2000 and later ( 5.83%).

Hopkins Home Appreciation Rates

Real estate appreciation rates in Hopkins's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.02% during the period.

Appreciation rates are so strong in Hopkins that despite a nationwide downturn in the housing market, Hopkins real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hopkins appreciation rates continue to be some of the highest in America, at 6.36%, which is higher than appreciation rates in 76.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hopkins. Hopkins appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.89%.

Relative to Minnesota, our data show that Hopkins's latest annual appreciation rate is higher than 80% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$241,510

Hopkins, MN HOME PRICES

Value Range
> $1,181,000 2.7
$885,001 - $1,181,000 1.0
$590,001 - $885,000 5.2
$472,001 - $590,000 4.9
$354,001 - $472,000 12.3
$236,001 - $354,000 29.1
$118,001 - $236,000 28.1
$59,001 - $118,000 13.9
$0 - $59,000 2.9

High for MN
High for Nation

Value Relative to Nation Value Relative to State
23.883745458807 22.3819301848049

Number Of Homes And Apartments:
7,984

Hopkins Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
49.53% 2.36% 7 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,178 / per month

Homeownership Rate

Homeownership
Owners 34.11
Renters 65.89
Vacant 3.78

Housing Market Details

 

Age of Homes

AGE OF Hopkins HOMES
2000 or Newer 5.8
1970 - 1999 45.4
1940 - 1969 38.6
1939 or Older 10.2

Types of Homes

TYPE OF Hopkins HOMES
Single-Family 30.0
Townhomes 7.9
Small Apt. Buildings 5.4
Apt. Complexes 56.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hopkins HOMES
No Bedroom 6.52
1 Bedroom 30.21
2 Bedrooms 34.08
3 Bedrooms 21.21
4 Bedrooms 5.83
5 or more bedrooms 2.15