Hopedale, IL
Population 742 · Illinois
About Hopedale, IL
Hopedale is a small community located in Illinois with a population of 742 residents according to the latest US Census Bureau American Community Survey data. The median household income is $53,958 per year, which is 28% below the national median of $75,149. The median age of 46.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Hopedale features a median home value of $135,600, which is 45% below the national median of $244,900. This makes Hopedale one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $881, 24% below the national average of $1,163/month. Of the 326 total housing units, 59% are owner-occupied (173 units) and 41% are renter-occupied (118 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Hopedale shows an unemployment rate of 8.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 24.1%, above the national average of 12.4%. Workers in Hopedale have an average one-way commute time of 24.6 minutes.
Education & Demographics
22.8% of Hopedale 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 0.0% White, 0.7% Hispanic or Latino, 0.5% Black or African American, and 0.1% Asian residents, with 3.0% of the population being foreign-born.
Cost of Living in Hopedale, IL
Compared to national averages, Hopedale has a median household income of $53,958 (28% below the national median of $75,149). Home values average $135,600, which is 45% below the national median. Monthly rent at $881 is 24% below the US average of $1,163. Within Illinois, Hopedale's income is 28% below the state average of $75,072, and home values are 18% below the state median of $165,779.
Why Live in Hopedale, IL?
Hopedale offers affordable housing with a median home value of $135,600, below the US average of $244,900, and rent that’s lower than the national average at $881/month, and short commute times averaging just 24.6 minutes.
Potential considerations include median household income ($53,958) that falls below the national average. However, Hopedale’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hopedale has a population of 742 with a median age of 46.9 years. Compare Hopedale with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Hopedale
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Clay City | 744 | $53,750 | $75,500 | Compare |
| Owaneco | 744 | $66,875 | $96,300 | Compare |
| Mulberry Grove | 739 | $57,250 | $74,800 | Compare |
| Mechanicsburg | 748 | $77,422 | $206,300 | Compare |
| Crossville | 749 | $40,682 | $61,300 | Compare |
| Ashmore | 750 | $57,361 | $87,100 | Compare |
| Niantic | 734 | $64,009 | $111,700 | Compare |
| La Moille | 732 | $65,542 | $104,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Hopedale With Other Cities
Frequently Asked Questions about Hopedale
What is the population of Hopedale, IL?
The population of Hopedale, IL is 742 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Illinois.
What is the median household income in Hopedale?
The median household income in Hopedale, IL is $53,958 per year, which is 28% below the national median of $75,149.
What is the median home value in Hopedale?
The median home value in Hopedale, IL is $135,600, which is 45% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hopedale?
The median monthly rent in Hopedale, IL is $881, which is 24% below the national average of $1,163/month.
What is the unemployment rate in Hopedale?
The unemployment rate in Hopedale, IL is 8.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hopedale, IL a good place to live?
Hopedale offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 742 and a median age of 46.9, the city appeals to established professionals and retirees.
How educated is Hopedale, IL?
22.8% of residents in Hopedale 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 Hopedale?
Key cost-of-living indicators for Hopedale, IL: median home value is $135,600 (45% below national), median rent is $881/month, and median household income is $53,958. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hopedale?
The poverty rate in Hopedale, IL is 24.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Hopedale, IL?
Hopedale's population is 0.0% White, 0.7% Hispanic or Latino, 0.5% Black or African American, 0.1% Asian, and 4.7% two or more races. 3.0% of residents are foreign-born.