Hope Valley, RI
Population 2,147 · Rhode Island
About Hope Valley, RI
Hope Valley is a small town located in Rhode Island with a population of 2,147 residents according to the latest US Census Bureau American Community Survey data. The median household income is $98,481 per year, which is 31% above the national median of $75,149. The median age of 41.8 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Hope Valley features a median home value of $424,100, which is 73% above the national median of $244,900. This places Hope Valley in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,393, 20% above the national average of $1,163/month. Of the 779 total housing units, 81% are owner-occupied (633 units) and 19% are renter-occupied (146 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hope Valley shows an unemployment rate of 6.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Hope Valley have an average one-way commute time of 30.9 minutes.
Education & Demographics
26.1% of Hope Valley 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 1.0% White, 3.4% Hispanic or Latino, 1.2% Black or African American, and 1.7% Asian residents, with 0.0% of the population being foreign-born.
How Hope Valley Ranks in Rhode Island
Cost of Living in Hope Valley, RI
Compared to national averages, Hope Valley has a median household income of $98,481 (31% above the national median of $75,149). Home values average $424,100, which is 73% above the national median. Monthly rent at $1,393 is 20% above the US average of $1,163. Within Rhode Island, Hope Valley's income is 6% above the state average of $92,962, and home values are 10% below the state median of $469,914.
Why Live in Hope Valley, RI?
Hope Valley offers a strong local economy with a median household income of $98,481, well above the national average, and a low poverty rate of 6.1%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $424,100. However, Hope Valley’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hope Valley has a population of 2,147 with a median age of 41.8 years. Compare Hope Valley with other cities to see how it stacks up, or explore all cities in Rhode Island.
Similar Cities Near Hope Valley
Cities in Rhode Island with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Melville | 1,840 | $103,393 | $0 | Compare |
| Chepachet | 1,819 | $95,423 | $285,600 | Compare |
| Harrisville | 1,816 | $66,016 | $348,700 | Compare |
| Ashaway | 1,682 | $101,165 | $305,600 | Compare |
| Charlestown | 1,648 | $113,281 | $545,800 | Compare |
| Bradford | 1,437 | $108,295 | $387,100 | Compare |
| Carolina | 1,238 | $123,063 | $366,000 | Compare |
| Narragansett Pier | 3,080 | $79,683 | $771,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Rhode Island
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Hope Valley With Other Cities
Frequently Asked Questions about Hope Valley
What is the population of Hope Valley, RI?
The population of Hope Valley, RI is 2,147 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Rhode Island.
What is the median household income in Hope Valley?
The median household income in Hope Valley, RI is $98,481 per year, which is 31% above the national median of $75,149.
What is the median home value in Hope Valley?
The median home value in Hope Valley, RI is $424,100, which is 73% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hope Valley?
The median monthly rent in Hope Valley, RI is $1,393, which is 20% above the national average of $1,163/month.
What is the unemployment rate in Hope Valley?
The unemployment rate in Hope Valley, RI is 6.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hope Valley, RI a good place to live?
Hope Valley offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 2,147 and a median age of 41.8, the city appeals to a broad range of residents.
How educated is Hope Valley, RI?
26.1% of residents in Hope Valley 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 Valley?
Key cost-of-living indicators for Hope Valley, RI: median home value is $424,100 (73% above national), median rent is $1,393/month, and median household income is $98,481. The home-value-to-income ratio is 4.3x, a moderate figure by national standards.
What is the poverty rate in Hope Valley?
The poverty rate in Hope Valley, RI is 6.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Hope Valley, RI?
Hope Valley's population is 1.0% White, 3.4% Hispanic or Latino, 1.2% Black or African American, 1.7% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.