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These days, finding an affordable place to live in the Hopkins area can be challenging. Home prices in Hopkins are now at a median cost of $429,409, higher than the Minnesota average of $345,793.
The average cost of rent is $1,541/mo in Hopkins, primarily driven by the current value of real estate in the Hopkins area. In Hopkins, 60.21% of households rent, and 43.59% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hopkins is $7,428 per month. Households that rent pay about 20.75% of their income on rent here. Hopkins’s most expensive areas are in the southeastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Minnetonka, MN: higher priced homes
- St. Louis Park, MN: equally priced homes
- Edina, MN: higher priced homes
- Medicine Lake, MN: higher priced homes
- Golden Valley, MN: equally priced homes
- Eden Prairie, MN: higher priced homes
- Woodland, MN: higher priced homes
- Deephaven, MN: higher priced homes
- Wayzata, MN: higher priced homes
- Richfield, MN: less expensive homes
Cities with Similar Populations
- Hanover, MD: higher priced homes
- Glastonbury, CT: higher priced homes
- Glen Avon, CA: higher priced homes
- Gloversville, NY: less expensive homes
- Grain Valley, MO: less expensive homes
- Granite Bay, CA: higher priced homes
- Greenwood, MS: less expensive homes
- Groton, CT: less expensive homes
- Hampstead, NC: equally priced homes
- West St. Paul, MN: less expensive homes
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