Hopewell, IL
Population 538 · Illinois
About Hopewell, IL
Hopewell is a small community located in Illinois with a population of 538 residents according to the latest US Census Bureau American Community Survey data. The median household income is $105,000 per year, which is 40% above the national median of $75,149. The median age of 46.1 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 Hopewell features a median home value of $185,700, which is 24% below the national median of $244,900. This positions Hopewell in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 201 total housing units, 100% are owner-occupied (196 units) and 0% are renter-occupied (0 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hopewell shows an unemployment rate of 1.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Hopewell have an average one-way commute time of 32 minutes.
Education & Demographics
35.8% of Hopewell 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, 0.9% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.6% of the population being foreign-born.
Cost of Living in Hopewell, IL
Compared to national averages, Hopewell has a median household income of $105,000 (40% above the national median of $75,149). Home values average $185,700, which is 24% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Hopewell's income is 40% above the state average of $75,072, and home values are 12% above the state median of $165,779.
Why Live in Hopewell, IL?
Hopewell offers a strong local economy with a median household income of $105,000, well above the national average, and affordable housing with a median home value of $185,700, below the US average of $244,900, and rent that’s lower than the national average at $0/month. Additionally, the city features a strong job market with an unemployment rate of just 1.5%, and a well-educated community where 35.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 2.8%, better than the national average.
Hopewell has a population of 538 with a median age of 46.1 years. Compare Hopewell with other cities to see how it stacks up, or explore all cities in Illinois.
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Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Hopewell
What is the population of Hopewell, IL?
The population of Hopewell, IL is 538 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 Hopewell?
The median household income in Hopewell, IL is $105,000 per year, which is 40% above the national median of $75,149.
What is the median home value in Hopewell?
The median home value in Hopewell, IL is $185,700, which is 24% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hopewell?
The median monthly rent in Hopewell, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Hopewell?
The unemployment rate in Hopewell, IL is 1.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Hopewell, IL a good place to live?
Hopewell offers above-average incomes, affordable housing, and a strong job market. With a population of 538 and a median age of 46.1, the city appeals to established professionals and retirees.
How educated is Hopewell, IL?
35.8% of residents in Hopewell aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Hopewell?
Key cost-of-living indicators for Hopewell, IL: median home value is $185,700 (24% below national), median rent is $0/month, and median household income is $105,000. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hopewell?
The poverty rate in Hopewell, IL is 2.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Hopewell, IL?
Hopewell's population is 0.0% White, 0.9% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.6% of residents are foreign-born.