Hopkinton, IA
Population 586 · Iowa
About Hopkinton, IA
Hopkinton is a small community located in Iowa with a population of 586 residents according to the latest US Census Bureau American Community Survey data. The median household income is $80,536 per year, which is 7% above the national median of $75,149. The median age of 38.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Hopkinton features a median home value of $108,900, which is 56% below the national median of $244,900. This makes Hopkinton one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $505, 57% below the national average of $1,163/month. Of the 250 total housing units, 83% are owner-occupied (194 units) and 17% are renter-occupied (39 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hopkinton shows an unemployment rate of 3.7%, which is near the national rate of 3.7%. The poverty rate stands at 7.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Hopkinton have an average one-way commute time of 24 minutes.
Education & Demographics
8.2% of Hopkinton residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.7% White, 3.8% Hispanic or Latino, 0.0% Black or African American, and 1.7% Asian residents, with 0.0% of the population being foreign-born.
How Hopkinton Ranks in Iowa
Cost of Living in Hopkinton, IA
Compared to national averages, Hopkinton has a median household income of $80,536 (7% above the national median of $75,149). Home values average $108,900, which is 56% below the national median. Monthly rent at $505 is 57% below the US average of $1,163. Within Iowa, Hopkinton's income is 19% above the state average of $67,947, and home values are 18% below the state median of $132,237.
Why Live in Hopkinton, IA?
Hopkinton offers a strong local economy with a median household income of $80,536, well above the national average, and affordable housing with a median home value of $108,900, below the US average of $244,900, and rent that’s lower than the national average at $505/month. Additionally, the city features a low poverty rate of 7.8%, better than the national average, and short commute times averaging just 24 minutes.
Hopkinton has a population of 586 with a median age of 38.3 years. Compare Hopkinton with other cities to see how it stacks up, or explore all cities in Iowa.
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Demographics
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Economy & Education
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Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Hopkinton
What is the population of Hopkinton, IA?
The population of Hopkinton, IA is 586 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Iowa.
What is the median household income in Hopkinton?
The median household income in Hopkinton, IA is $80,536 per year, which is 7% above the national median of $75,149.
What is the median home value in Hopkinton?
The median home value in Hopkinton, IA is $108,900, which is 56% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hopkinton?
The median monthly rent in Hopkinton, IA is $505, which is 57% below the national average of $1,163/month.
What is the unemployment rate in Hopkinton?
The unemployment rate in Hopkinton, IA is 3.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hopkinton, IA a good place to live?
Hopkinton offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 586 and a median age of 38.3, the city appeals to a broad range of residents.
How educated is Hopkinton, IA?
8.2% of residents in Hopkinton aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Hopkinton?
Key cost-of-living indicators for Hopkinton, IA: median home value is $108,900 (56% below national), median rent is $505/month, and median household income is $80,536. The home-value-to-income ratio is 1.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hopkinton?
The poverty rate in Hopkinton, IA is 7.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Hopkinton, IA?
Hopkinton's population is 0.7% White, 3.8% Hispanic or Latino, 0.0% Black or African American, 1.7% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.