How many renters live in Hopkins, Michigan?
The City of Hopkins has 765 people living in 236 households.
There are 116 renters living in 51 renter households in this City. Renters make up 15.16 percent of the population living in Hopkins.
What is the rental market like in Hopkins, Michigan?
There are an estimated 244 housing units in the Hopkins area. Of these, 51 units are rental homes, making up 21 percent of the housing market. For every renter household in Hopkins, Michigan, there are 1 rental units.
What is the vacancy rate for rentals in Hopkins?
The rental vacancy rate in Hopkins is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Hopkins for each bedroom size?
Occupied Rental Units by Size in Hopkins
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 2 | 12 | 24 | 13 | 0 |
Occupied Rental Units by Size in Hopkins
A large number of apartments in Hopkins have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Hopkins are overburdened by housing costs?
Among renter households in this market, 45 percent have housing cost burden. Further, 24 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Hopkins
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $832 to $1,466. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $832 |
| One BR | $838 |
| Two BR | $1,101 |
| Three BR | $1,427 |
| Four BR | $1,466 |
2024 Fair Market Rents in Hopkins, Michigan
How many units are rented at Fair Market Rent (FMR) in Hopkins?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 2 | 100 percent |
| One BR | 4 | 33 percent |
| Two BR | 23 | 96 percent |
Rental Units Below FMR in Hopkins, Michigan
How many affordable rental units are in Hopkins?
There are a variety of federal affordable housing programs serving households in Hopkins, Michigan including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 24 |
Tracked Units by Federal Program in Hopkins, Michigan
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Hopkins, Michigan
Hopkins features 24 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Hopkins, Michigan
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hopkins.
Housing Choice Vouchers in Hopkins, Michigan
On average, Section 8 Housing Choice vouchers pay Hopkins landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Hopkins.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hopkins, Michigan for a two-bedroom apartment is between $991 and $1,211.
Sourced from federal housing data and AffordableHousingOnline.com research.
