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129 Pet Friendly Apartments for rent in Hopkins, MN

Last updated September 26 at 6:51AM
928 Westbrooke Way
Hopkins
Hopkins, MN
Updated September 26 at 1:34AM
1 Bedroom
$925
711 11th Ave S
Hopkins
Hopkins, MN
Updated September 21 at 5:37PM
2 Bedrooms
$1,100
Results within 1 miles of Hopkins, MN
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Rent Report
Hopkins

September 2017 Hopkins Rent Report

Welcome to the September 2017 Hopkins Rent Report. In this report, we'll evaluate trends in the Hopkins rental market, including comparisons to similar cities nationwide.

Hopkins rents increase sharply over the past month

Hopkins rents have increased 0.6% over the past month, and are up moderately by 2.8% in comparison to the same time last year. Currently, median rents in Hopkins stand at $1,100 for a one-bedroom apartment and $1,390 for a two-bedroom. This is the eighth straight month that the city has seen rent increases after a decline in December of last year. Hopkins' year-over-year rent growth lags the state average of 3.6%, as well as the national average of 3.0%.

Many large cities nationwide show more affordable rents compared to Hopkins

Rent growth in Hopkins has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Compared to most large cities across the country, Hopkins is less affordable for renters.

  • Hopkins' median two-bedroom rent of $1,390 is above the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 2.8% increase in Hopkins.
  • While rents in Hopkins remained moderately stable this year, similar cities saw increases, including Chicago (+3.8%), Raleigh (+3.4%), and Denver (+3.0%); note that median 2BR rents in these cities go for $1,290, $1,130, and $1,350 respectively.
  • Renters will generally find more expensive prices in Hopkins than most large cities. For example, Tulsa has a median 2BR rent of $830, where Hopkins is more than one-and-a-half times that price.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.