salaryRent is higher than in 54% of U.S. cities. A typical house costs about 4.6 years of household income. Commutes are short, about 18.9 minutes. Most households rent (64%), so there are plenty of rental options.
How much money do I need?
To rent here comfortably, you should earn about $69,360 a year. That is $33 an hour at a full-time job.
Is rent cheaper than other Minnesota cities?
No. Rent here is more expensive than in most of Minnesota. It is number 94 of 150 cities from cheapest to most expensive.
How much do households earn in Hopkins?
Share of households by yearly income. 22.9% of households earn $100,000 or more.
Rent by apartment size in Hopkins
| Size | Hopkins | U.S. average |
|---|---|---|
| Studio | $1,318 | $1,338 |
| 1 bedroom | $1,427 | $1,324 |
| 2 bedrooms | $1,824 | $1,509 |
| 3 bedrooms | $2,239 | $1,698 |
| 4 bedrooms | $3,048 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Hopkins overall?
Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Hopkins, so the Minnesota figure is shown.
Taxes and bills in Hopkins
Life in Hopkins
Is it cheaper to rent or buy in Hopkins?
Renting is cheaper right now: about $872 a month less.
Owning assumes a typical $375,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $37,560 for the down payment.
Frequently asked questions
What is the average rent in Hopkins, MN?
Renting in Hopkins costs a median of about $1,734 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in Hopkins?
To keep rent under 30% of income, you need about $69,360 a year, or $33 an hour at a full-time job.
Is Hopkins cheap or expensive?
Hopkins is rated OK: rent takes 25.6% of the typical household income of $81,140. It ranks 94th cheapest of 150 Minnesota cities we track.
How much are property taxes in Hopkins?
The median homeowner in Hopkins pays $4,796 a year in property taxes, about 1.28% of the median home value.
Is Hopkins more expensive than the national average?
Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Hopkins?
The median home value in Hopkins is $375,600, about 4.6 times the typical yearly household income.
18,819 people live in Hopkins. Numbers are typical (middle) values.