New Hope, AL
Population 2,895 · Alabama
About New Hope, AL
New Hope is a small town located in Alabama with a population of 2,895 residents according to the latest US Census Bureau American Community Survey data. The median household income is $80,787 per year, which is 8% above the national median of $75,149. The median age of 34.2 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in New Hope features a median home value of $158,200, which is 35% below the national median of $244,900. This positions New Hope in a moderately priced market relative to the rest of the country. Median monthly rent is $692, 40% below the national average of $1,163/month. Of the 1,076 total housing units, 79% are owner-occupied (777 units) and 21% are renter-occupied (202 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Hope shows an unemployment rate of 7.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Hope have an average one-way commute time of 24.7 minutes.
Education & Demographics
26.3% of New Hope residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 1.9% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.4% of the population being foreign-born.
Cost of Living in New Hope, AL
Compared to national averages, New Hope has a median household income of $80,787 (8% above the national median of $75,149). Home values average $158,200, which is 35% below the national median. Monthly rent at $692 is 40% below the US average of $1,163. Within Alabama, New Hope's income is 39% above the state average of $57,952, and home values are 1% below the state median of $159,358.
Why Live in New Hope, AL?
New Hope offers a strong local economy with a median household income of $80,787, well above the national average, and affordable housing with a median home value of $158,200, below the US average of $244,900, and rent that’s lower than the national average at $692/month. Additionally, the city features a low poverty rate of 6.4%, better than the national average, and short commute times averaging just 24.7 minutes.
New Hope has a population of 2,895 with a median age of 34.2 years. Compare New Hope with other cities to see how it stacks up, or explore all cities in Alabama.
Similar Cities Near New Hope
Cities in Alabama with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Taylor | 2,916 | $62,596 | $128,600 | Compare |
| Eutaw | 2,864 | $31,583 | $98,300 | Compare |
| Brent | 2,862 | $24,041 | $143,300 | Compare |
| Eagle Point | 2,929 | $146,125 | $463,300 | Compare |
| Cottondale | 2,850 | $44,250 | $118,600 | Compare |
| York | 2,849 | $37,009 | $57,500 | Compare |
| Huguley | 2,944 | $43,736 | $127,100 | Compare |
| Marion | 2,994 | $38,221 | $108,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Alabama
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Hope With Other Cities
Frequently Asked Questions about New Hope
What is the population of New Hope, AL?
The population of New Hope, AL is 2,895 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Alabama.
What is the median household income in New Hope?
The median household income in New Hope, AL is $80,787 per year, which is 8% above the national median of $75,149.
What is the median home value in New Hope?
The median home value in New Hope, AL is $158,200, which is 35% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Hope?
The median monthly rent in New Hope, AL is $692, which is 40% below the national average of $1,163/month.
What is the unemployment rate in New Hope?
The unemployment rate in New Hope, AL is 7.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Hope, AL a good place to live?
New Hope offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 2,895 and a median age of 34.2, the city appeals to young professionals and families.
How educated is New Hope, AL?
26.3% of residents in New Hope 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 New Hope?
Key cost-of-living indicators for New Hope, AL: median home value is $158,200 (35% below national), median rent is $692/month, and median household income is $80,787. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Hope?
The poverty rate in New Hope, AL is 6.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Hope, AL?
New Hope's population is 0.0% White, 1.9% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.3% two or more races. 0.4% of residents are foreign-born.