Commercial Real Estate Market in Hopkins, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
27 active listings and 560 off-market properties in Hopkins, MN.
Market Trends
Hopkins, MN spans 28.4 square miles in Hennepin County, Minnesota. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Hopkins, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Hopkins, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial vacancy in Hopkins, MN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily space in Hopkins, MN has a median asking sale price of $186/SF (based on 4 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 19.6%
- Mixed use 14.5%
- Industrial 12.1%
- Open space 8.2%
- Civic 5.7%
Largest Zones share of zoned land by district
The N2 zone is primarily intended to accommodate detached and semi detached houses in a more suburban context. N2-B zones are for smaller and larger lot neighborhoods, respectively.
Market overview
Demographics & Economy
Hopkins, MN has 69,891 residents in 33,408 households. Density runs 2,463 people per square mile. Median household income here is $109,035 and median gross rent $1,539 a month.
Tools
Nearby Markets
Commercial property in Hopkins, MN asks $177/SF. The 2 bordering markets run from $160/SF in Edina to $641/SF in Wayzata, and the city sits below their $400/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Hopkins?
How does Hopkins compare to nearby markets on price?
Where does Realmo's Hopkins market data come from?
Methodology & data sources
- Asking prices and medians
- There are 10 active for-sale and 17 active for-lease listings in Hopkins, MN. The sale median is based on 5 of the for-sale listings that state a price per square foot; too few for-lease listings state a rent per square foot for a rent median. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 2,024 zoned acres across 21 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
