Apartments Help Hopkins Fend off Worst of Housing Crisis
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' …
