Cost of Living in Hopkins, MN
Population 18,696 · Minnesota · Data vintage 2023
(100 = US avg)
Hopkins sits on the smaller end of the Minnesota city distribution. That scale shapes the housing market, the labor pool, and the services available to residents in ways the data below makes visible.
Located 7 miles west of Minneapolis, Hopkins falls within that metro's commuting orbit. Housing prices track closely with Minneapolis' $346,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Hopkins
The median home value in Hopkins is $350,100 — 15% above the national median of $305,000. Median rent runs $1,346/month, 2% higher than the national median of $1,314/month. The median household income of $71,170/year is 5% lower than the US median of $74,580. The local unemployment rate is 5.1%, above the national average of 4.8%. Minnesota's top state income tax rate is 9.8% and the combined sales tax is 7.4%. Overall, Hopkins has a cost of living index of 110 versus the US average of 100, meaning it is 10% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Hopkins, MN?
Hopkins has a cost index of 110 (100 = national average). It is 10% above the national average.
What is average rent in Hopkins, MN?
The median gross rent in Hopkins is $1,346 per month based on 2023 Census data.
What is the average home price in Hopkins?
The median home value in Hopkins is $350,100 according to Zillow and Census data.
What is the median income in Hopkins?
The median household income in Hopkins is $71,170 per year (2023 ACS 5-year estimates).
What is the sales tax in Hopkins, MN?
The combined state and local sales tax rate in Hopkins is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Hopkins, MN affordable?
Hopkins is near the national average in terms of cost of living, with an index of 110 (100 = US average).
Hopkins at a Glance
- Population
- 18,696
- Median Income
- $71,170
- Home Value
- $350,100
- Median Rent
- $1,346/mo
- Unemployment
- 5.1%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
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