New Hope, TN
Population 928 · Tennessee
About New Hope, TN
New Hope is a small community located in Tennessee with a population of 928 residents according to the latest US Census Bureau American Community Survey data. The median household income is $62,396 per year, which is 17% below the national median of $75,149. The median age of 38.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Hope features a median home value of $148,800, which is 39% below the national median of $244,900. This positions New Hope 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 388 total housing units, 88% are owner-occupied (314 units) and 12% are renter-occupied (41 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Hope shows an unemployment rate of 10.3%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 23.5%, above the national average of 12.4%. Workers in New Hope have an average one-way commute time of 22.2 minutes.
Education & Demographics
6.1% of New 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 0.0% White, 3.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in New Hope, TN
Compared to national averages, New Hope has a median household income of $62,396 (17% below the national median of $75,149). Home values average $148,800, which is 39% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Tennessee, New Hope's income is 1% below the state average of $62,849, and home values are 31% below the state median of $214,371.
Why Live in New Hope, TN?
New Hope offers affordable housing with a median home value of $148,800, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and short commute times averaging just 22.2 minutes.
Potential considerations include median household income ($62,396) that falls below the national average. However, New Hope’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Hope has a population of 928 with a median age of 38.9 years. Compare New Hope with other cities to see how it stacks up, or explore all cities in Tennessee.
Similar Cities Near New Hope
Cities in Tennessee with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Eagleville | 934 | $87,404 | $398,500 | Compare |
| Grimsley | 940 | $56,458 | $0 | Compare |
| Bulls Gap | 910 | $50,066 | $148,200 | Compare |
| Ridgeside | 907 | $177,500 | $473,900 | Compare |
| Fowlkes | 898 | $43,813 | $81,400 | Compare |
| Decaturville | 895 | $40,500 | $126,800 | Compare |
| Lobelville | 974 | $54,063 | $176,100 | Compare |
| Roan Mountain | 976 | $59,539 | $162,000 | 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 New Hope With Other Cities
Frequently Asked Questions about New Hope
What is the population of New Hope, TN?
The population of New Hope, TN is 928 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Tennessee.
What is the median household income in New Hope?
The median household income in New Hope, TN is $62,396 per year, which is 17% below the national median of $75,149.
What is the median home value in New Hope?
The median home value in New Hope, TN is $148,800, which is 39% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Hope?
The median monthly rent in New Hope, TN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in New Hope?
The unemployment rate in New Hope, TN is 10.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Hope, TN a good place to live?
New Hope offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 928 and a median age of 38.9, the city appeals to a broad range of residents.
How educated is New Hope, TN?
6.1% of residents in New 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 New Hope?
Key cost-of-living indicators for New Hope, TN: median home value is $148,800 (39% below national), median rent is $0/month, and median household income is $62,396. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Hope?
The poverty rate in New Hope, TN is 23.5%, 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 New Hope, TN?
New Hope's population is 0.0% White, 3.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.