Hopkins, MN is a small city located just west of Minneapolis with a population of about 17,000 people. The city has an array of local businesses that serve the community such as Perkins Restaurant & Bakery, Microsoft Store, and Neighborhood Cafe. It is also home to several major employers including Cargill Inc., Honeywell International, and HealthEast Care System. In terms of cost of living, Hopkins residents can expect to pay slightly more than average for rent at $1,500 for a two bedroom home but benefit from a lower grocery cost index than the US average at 101 versus 100.
Living in Hopkins offers many benefits including easy access to both downtown Minneapolis and St Paul due to its proximity along the I-94 corridor. Residents also enjoy a variety of recreational activities like visiting Loring Park or going out to eat at one of the many restaurants in town. While there are plenty of positives about living in Hopkins, some drawbacks include limited housing options and higher traffic on highways due to its close proximity to the Twin Cities.
Hopkins has an unemployment rate of 4.2%. The US average is 6.0%.
Hopkins has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Hopkins
- The Sales Tax Rate for Hopkins is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Hopkins is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hopkins
- The average income of a Hopkins resident is $29,393 a year. The US average is $28,555 a year.
- The Median household income of a Hopkins resident is $60,824 a year. The US average is $69,021 a year.