Hope, IN
Population 1,988 · Indiana
About Hope, IN
Hope is a small town located in Indiana with a population of 1,988 residents according to the latest US Census Bureau American Community Survey data. The median household income is $68,015 per year, which is 9% below the national median of $75,149. The median age of 31.5 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 Hope features a median home value of $127,200, which is 48% below the national median of $244,900. This makes Hope one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,101, 5% below the national average of $1,163/month. Of the 781 total housing units, 78% are owner-occupied (534 units) and 22% are renter-occupied (155 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hope shows an unemployment rate of 1.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 15.2%, above the national average of 12.4%. Workers in Hope have an average one-way commute time of 25.3 minutes.
Education & Demographics
9.6% of Hope 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 1.5% White, 0.4% Hispanic or Latino, 1.7% Black or African American, and 0.8% Asian residents, with 1.9% of the population being foreign-born.
How Hope Ranks in Indiana
Cost of Living in Hope, IN
Compared to national averages, Hope has a median household income of $68,015 (9% below the national median of $75,149). Home values average $127,200, which is 48% below the national median. Monthly rent at $1,101 is 5% below the US average of $1,163. Within Indiana, Hope's income is 2% below the state average of $69,330, and home values are 22% below the state median of $163,409.
Why Live in Hope, IN?
Hope offers affordable housing with a median home value of $127,200, below the US average of $244,900, and rent that’s lower than the national average at $1,101/month, and a strong job market with an unemployment rate of just 1.1%.
Potential considerations include median household income ($68,015) that falls below the national average. However, Hope’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hope has a population of 1,988 with a median age of 31.5 years. Compare Hope with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Hope
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Battle Ground | 1,989 | $104,583 | $268,300 | Compare |
| Trail Creek | 1,983 | $65,929 | $177,600 | Compare |
| Salt Creek Commons | 1,973 | $84,648 | $181,100 | Compare |
| Greentown | 2,005 | $57,917 | $116,500 | Compare |
| Liberty | 1,958 | $46,801 | $122,000 | Compare |
| Milford | 1,955 | $52,014 | $135,300 | Compare |
| Southport | 2,036 | $69,148 | $186,500 | Compare |
| Walkerton | 2,052 | $62,521 | $132,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Hope With Other Cities
Frequently Asked Questions about Hope
What is the population of Hope, IN?
The population of Hope, IN is 1,988 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in Hope?
The median household income in Hope, IN is $68,015 per year, which is 9% below the national median of $75,149.
What is the median home value in Hope?
The median home value in Hope, IN is $127,200, which is 48% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hope?
The median monthly rent in Hope, IN is $1,101, which is 5% below the national average of $1,163/month.
What is the unemployment rate in Hope?
The unemployment rate in Hope, IN is 1.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Hope, IN a good place to live?
Hope offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,988 and a median age of 31.5, the city appeals to young professionals and families.
How educated is Hope, IN?
9.6% of residents in 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 Hope?
Key cost-of-living indicators for Hope, IN: median home value is $127,200 (48% below national), median rent is $1,101/month, and median household income is $68,015. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hope?
The poverty rate in Hope, IN is 15.2%, 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 Hope, IN?
Hope's population is 1.5% White, 0.4% Hispanic or Latino, 1.7% Black or African American, 0.8% Asian, and 0.0% two or more races. 1.9% of residents are foreign-born.