Hopewell, TN
Population 2,624 · Tennessee
About Hopewell, TN
Hopewell is a small town located in Tennessee with a population of 2,624 residents according to the latest US Census Bureau American Community Survey data. The median household income is $85,461 per year, which is 14% above the national median of $75,149. The median age of 39.5 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Hopewell features a median home value of $227,700, which is 7% 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 $1,007, 13% below the national average of $1,163/month. Of the 1,028 total housing units, 84% are owner-occupied (798 units) and 16% are renter-occupied (152 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Hopewell shows an unemployment rate of 4.3%, which is near the national rate of 3.7%. The poverty rate stands at 15.5%, above the national average of 12.4%. Workers in Hopewell have an average one-way commute time of 22.8 minutes.
Education & Demographics
31.5% 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 11.2% White, 8.0% Hispanic or Latino, 0.0% Black or African American, and 5.0% Asian residents, with 3.6% of the population being foreign-born.
Cost of Living in Hopewell, TN
Compared to national averages, Hopewell has a median household income of $85,461 (14% above the national median of $75,149). Home values average $227,700, which is 7% below the national median. Monthly rent at $1,007 is 13% below the US average of $1,163. Within Tennessee, Hopewell's income is 36% above the state average of $62,849, and home values are 6% above the state median of $214,371.
Why Live in Hopewell, TN?
Hopewell offers a strong local economy with a median household income of $85,461, well above the national average, and affordable housing with a median home value of $227,700, below the US average of $244,900, and rent that’s lower than the national average at $1,007/month. Additionally, the city features short commute times averaging just 22.8 minutes.
Hopewell has a population of 2,624 with a median age of 39.5 years. Compare Hopewell with other cities to see how it stacks up, or explore all cities in Tennessee.
Similar Cities Near Hopewell
Cities in Tennessee with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Adamsville | 2,621 | $50,833 | $188,000 | Compare |
| Clifton | 2,632 | $44,286 | $126,900 | Compare |
| Pikeville | 2,653 | $32,917 | $155,500 | Compare |
| Parsons | 2,578 | $32,129 | $107,400 | Compare |
| Alamo | 2,565 | $52,768 | $117,000 | Compare |
| White Pine | 2,557 | $55,000 | $196,600 | Compare |
| Bells | 2,531 | $54,132 | $164,000 | Compare |
| Strawberry Plains | 2,531 | $77,855 | $180,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Tennessee
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Hopewell With Other Cities
Frequently Asked Questions about Hopewell
What is the population of Hopewell, TN?
The population of Hopewell, TN is 2,624 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Tennessee.
What is the median household income in Hopewell?
The median household income in Hopewell, TN is $85,461 per year, which is 14% above the national median of $75,149.
What is the median home value in Hopewell?
The median home value in Hopewell, TN is $227,700, which is 7% 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, TN is $1,007, which is 13% below the national average of $1,163/month.
What is the unemployment rate in Hopewell?
The unemployment rate in Hopewell, TN is 4.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hopewell, TN a good place to live?
Hopewell offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 2,624 and a median age of 39.5, the city appeals to a broad range of residents.
How educated is Hopewell, TN?
31.5% of residents in Hopewell 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 Hopewell?
Key cost-of-living indicators for Hopewell, TN: median home value is $227,700 (7% below national), median rent is $1,007/month, and median household income is $85,461. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hopewell?
The poverty rate in Hopewell, TN is 15.5%, 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 Hopewell, TN?
Hopewell's population is 11.2% White, 8.0% Hispanic or Latino, 0.0% Black or African American, 5.0% Asian, and 2.6% two or more races. 3.6% of residents are foreign-born.