Affordable Housing

A wide range of housing types is the bedrock of a healthy and livable community. Safe and stable housing can provide security that allows kids to do better in school and people to thrive. Hopkins provides a variety of housing options with opportunities for people in all stages of life.  

Affordable Housing as a Council Priority

Historically much of the housing in Hopkins has been affordable. However, market pressures and the economy can cause housing costs to rise. As Hopkins grows and redevelops, ensuring that affordable housing options continue to be available is a priority of the City Council. The City Council has taken many steps to encourage the affordability of housing. View the latest presentations on affordable housing below.

Affordable Housing Trust Fund

On March 4, 2025, the City Council approved the creation of an Affordable Housing Trust Fund (AHTF). Local Housing Trust Funds are funds established by local governments by dedicating local public revenue for housing. They are a consistent, flexible resource for housing within a local jurisdiction. There are over 90 housing trust funds across the State, according to Minnesota Housing Partnership.

Dow Towers

The Hopkins Housing and Redevelopment Authority provides rental apartments for low-income persons. Dow Towers, a subsidized high-rise located at 22 5th Avenue S, has 76 one-bedroom apartments. Learn more about Dow Towers.

Financial Assistance

There are options to help pay for housing, including the Section 8 Voucher Program and emergency rental assistance. Learn more about available assistance.

Housing Options in Hopkins

The City maintains a list of rental apartments, condominiums, and townhomes with prices ranging from affordable to luxury.

Housing Improvement Area Policy

On September 18, 2024, the City Council approved an updated Housing Improvement Area (HIA) Policy. Minnesota State Statute authorizes cities to create housing improvement areas for condominium and townhome associations. HIAs are city-funded loans that enable condominium and townhome associations to complete needed improvements to common areas of their development that they are otherwise unable to finance. HIAs are initiated and requested by the individual homeowners through a petition process. HIAs are one tool for preserving and rehabilitating affordable housing.

Inclusionary Housing Policy

The City Council adopted an inclusionary housing policy on May 16, 2023, which is a tool that will require developers to provide affordable housing units within a market rate development under certain conditions. 

Local Affordable Housing Aid 

In 2023, the Minnesota Legislature approved two new funding streams for affordable housing, Local Affordable Housing Aid (LAHA) and State Affordable Housing Aid. LAHA was funded with a new 0.25% metropolitan area sales tax on retail sales, taking effect October 1, 2023. The City of Hopkins, as a metropolitan city with over 10,000 in population, receives a direct allocation of LAHA funding based on the percentage of cost-burdened households in the city. LAHA funds must be used for affordable housing production and preservation, and cities must report to the State annually on funding uses. In 2025, the City is projected to receive $469,274 in LAHA funding. Learn more about LAHA funding on the Minnesota Housing website.

Tenant Protection Ordinance 

The City Council adopted a Tenant Protection Ordinance in May 2019, to protect low-income tenants in the City when there is an ownership transfer of an affordable rental property.