Fewer available homes mean fewer foreclosures, which in turn signify an underlying strength of the Hopkins real estate market.
Look around Hopkins and you'll find plenty of apartments. High-rise, low-rise, senior housing, assisted-living — all available. Then there are the condos, duplexes, fourplexes and all the other ways families gather under one roof. On the surface, this might seem as another dreary marketplace example of supply exceeding demand. But all those apartments may have helped Hopkins weather the housing crash a bit better than other communities did. The city's foreclosure rate is less than half that of Hennepin County, as a whole, and a little more than a third of the national average, according to data from RealtyTrac, which monitors foreclosure rates across the country. Beneath this is another telling statistic: Just 30 percent of Hopkins' …
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City of Hopkins - City Hall
1010 1st St S, Hopkins, MN
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New landlord regulations may make life easier for Hopkins renters — and add some challenges for landlords.
Compared to its neighbors, Hopkins is a renter's community. About 60 percent of the city's residential properties are rentals, said Jim Genellie, Hopkins assistant city manager. That's a greater percentage than West Metro cities such as Eden Prairie, Minnetonka, St. Louis Park or Golden Valley. Out of Hopkins' 5,100 rental units, about 4,200 are apartments. The rest are everything from townhomes, duplexes and fourplexes to rented single-family homes. "In the 1970s, decisions were made to build a number of large apartment units in the city, so that's what we have," Genellie said. Gov. Tim Pawlenty last May signed into law what has come to be known as the Tenant Bill of Rights. The bill regulates rental agreements for residential units — …
44.92241
-93.41346
City of Hopkins - City Hall
1010 1st St S, Hopkins, MN
/articles/what-you-must-know-about-minnesotas-new-tenant-bill-of-rights
978498
/locations/2640052
