Hopkins, MN Cost Of Living
Cost Of Living In Hopkins, MN Summary
Cost of living in Hopkins research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Hopkins is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Minnesota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Hopkins is 104, with 100 being the average.
The cost of living index in Hopkins is 1.0x higher than the national average.
Hopkins ranks as the #70 cheapest in Minnesota out of 147.
Hopkins ranks as the #3,585 cheapest out of 6,412 in the US.
The median home value in Hopkins is $289,500.
The median income in Hopkins is $60,824.
Table Of Contents
Hopkins's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Hopkins, MN?
According to the most recent data on the cost of living, Hopkins has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to Minnesota, Hopkins has a cost of living index that's 1.1x higher than Minnesota's index of 95.
The standard of living in Hopkins ranks as #70 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Hopkins ranks as the #77 most expensive place in the North Star State.
For more reading on life in Hopkins, check out:
- Living In Hopkins
- Hopkins Crime Report
- Search Homes For Sale In Hopkins, MN
In Minnesota
In America
Hopkins Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Hopkins. Here is how it fairs on each of the criteria:
The Services index in Hopkins is 112.
The Groceries index in Hopkins is 105.
The Health index in Hopkins is 101.
The Housing index in Hopkins is 110.
The Transportation index in Hopkins is 100.
The Utilities index in Hopkins is 99.
| Living Expense | Hopkins | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 104 | 95 | 100 | |
| Services | 112 | 101 | 100 | |
| Groceries | 105 | 98 | 100 | |
| Health | 101 | 111 | 100 | |
| Housing | 110 | 83 | 100 | |
| Transportation | 100 | 98 | 100 | |
| Utilities | 99 | 95 | 100 | |
Hopkins, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Hopkins is $289,500.
The Median Rent in Hopkins is $1,163.
The Median Income in Hopkins is $60,824.
The Home Value To Income in Hopkins is 4.8x.
The Rent To Monthly Income in Hopkins is 0.23x.
| Statistic | Hopkins | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $289,500 | $250,200 | $244,900 |
| Median Rent | $1,163 | $1,081 | $1,163 |
| Median Income | $60,824 | $77,706 | $69,021 |
| Home Value To Income | 4.8x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Hopkins, MN Costs By Category
Detailed Hopkins Services Costs Vs. Minnesota
Detailed Hopkins Groceries Costs Vs. Minnesota
Detailed Hopkins Health Costs Vs. Minnesota
Detailed Hopkins Transportation Costs Vs. Minnesota
Detailed Hopkins Utilities Costs Vs. Minnesota
Hopkins SnackAbility
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Cost Of Living In Cities Around Hopkins
The cost of living varies in the cities and towns around Hopkins. Here's a quick look at the cost of living in the most populous nearby places:
Plymouth, MN has a cost of living index of 122, 1.2x Hopkins.
Maple Grove, MN has a cost of living index of 117, 1.1x Hopkins.
Lakeville, MN has a cost of living index of 116, 1.1x Hopkins.
| City | Population | Cost Of Living | Vs. Hopkins |
|---|---|---|---|
| Plymouth, MN | 80,034 | 122 | 1.2x |
| Maple Grove, MN | 69,900 | 117 | 1.1x |
| Lakeville, MN | 69,026 | 116 | 1.1x |
| Eden Prairie, MN | 64,048 | 121 | 1.2x |
| Minnetonka, MN | 53,809 | 121 | 1.2x |
| Edina, MN | 53,059 | 135 | 1.3x |
| St. Louis Park, MN | 49,539 | 113 | 1.1x |
| Richfield, MN | 36,899 | 104 | 1.0x |
| Shoreview, MN | 26,871 | 110 | 1.1x |
| Golden Valley, MN | 22,247 | 116 | 1.1x |
