Performance indicators for the Hopkins short-term rental market based on reliable data.
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The highest-performing listings in Hopkins.
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Challenging to Investors
Short‑term rentals are explicitly allowed in Neighborhood zoning districts but require a conditional use permit, a city rental license, and a county lodging license, along with a pre‑rental inspection, routine inspections, record‑keeping, and compliance with occupancy limits and residential‑character standards. License fees are moderate (about $100–$120), but the multi‑step permitting and compliance process introduces friction. The presence of caps, layered approvals, and enforcement fines (e.g., $500 for operating without a license) makes the environment challenging for investors.
Local STR Agent
STR specialist · Hopkins, MN
Hopkins is a small, established suburb in Hennepin County, Minnesota, set just southwest of Minneapolis in the heart of the Twin Cities metropolitan area. With a population of roughly 19,000 residents, the city has the feel of a tight-knit community that retains a recognizable downtown core despite its proximity to a major metro. Hopkins is best known for its walkable Mainstreet district, an eclectic cluster of locally owned restaurants, breweries, and shops that has become one of the most distinctive neighborhood nodes in the western suburbs. It serves as a practical, low-key gateway to the broader Twin Cities region, with downtown Minneapolis located only about 8 miles to the northeast and easily reached by car, light rail, or bike trails.
A short drive or bike ride from Hopkins brings visitors to Lake Minnetonka, one of Minnesota's most famous recreational lakes. Stretching across several western suburbs, the lake offers boating, sailing, lakeside dining, and parkland access, and its eastern bays sit roughly five to ten miles west of the city. The lake's surrounding communities give Hopkins-based guests a classic Upper Midwest lake experience without requiring a long drive out of the metro area.
To the east, about ten miles away, Minnehaha Falls and Minnehaha Regional Park anchor a corridor of green space running along the Mississippi River. The 53-foot waterfall, limestone bluffs, and adjacent parkland attract millions of visitors a year and pair naturally with a stop at the Minnesota Veterans Home overlook or the riverfront trails that connect to downtown Minneapolis.
For a more curated outdoor experience, the Minnesota Landscape Arboretum, part of the University of Minnesota, lies roughly fifteen miles west of Hopkins in Chanhassen. More than 1,200 acres of gardens, native plant collections, and tree-lined walking paths make it a year-round draw for visitors who want a quieter, more contemplative alternative to the busier state parks. Closer in, the Hopkins Center for the Arts hosts rotating exhibits, classes, and performances that give the suburb its own modest cultural identity separate from the larger Minneapolis institutions just up the road.
Hopkins works well as a short-term rental base precisely because it sits between two very different draws. Guests can spend the morning wandering the shops and tasting rooms of downtown Hopkins, spend the afternoon on Lake Minnetonka or at the Arboretum, and still be in downtown Minneapolis within twenty minutes for dinner and a show. The combination of small-town character, reliable transit access to the Twin Cities, and a range of nearby natural and cultural attractions makes it a flexible, year-round destination for travelers who want suburban comfort without giving up the energy of a major metro.