$1,600
Total Monthly Price
- 2 Beds
- 2 Baths
- 1,192 Sq Ft
- Condo for Rent
10531 Cedar Lake Rd S Unit 312, Hopkins, MN 55305
(612) 260-7519
Frequently Asked Questions
How much does it cost to rent a condo in Hopkins, MN?
The median rent for a condo in Hopkins, MN is $1,375 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Hopkins, MN?
To comfortably afford the median rent in Hopkins, MN, a household needs to earn roughly $53,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,325 per month in Hopkins, MN, renters typically need to show $3,975 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Hopkins, MN?
In Hopkins, MN, the price-to-rent ratio is 25.7, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Hopkins, MN are best for renting a condo?
The best neighborhood for renting in Hopkins, MN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Aquila, Linden Hills, Armatage and East BDE Maka Ska, each with its own character and price range.
