New Hope, TX
Population 705 · Texas
About New Hope, TX
New Hope is a small community located in Texas with a population of 705 residents according to the latest US Census Bureau American Community Survey data. The median household income is $65,625 per year, which is 13% below the national median of $75,149. The median age of 53.4 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 New Hope features a median home value of $405,600, which is 66% above the national median of $244,900. This places New Hope in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,841, 58% above the national average of $1,163/month. Of the 308 total housing units, 75% are owner-occupied (224 units) and 25% are renter-occupied (74 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Hope shows an unemployment rate of 2.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Hope have an average one-way commute time of 28.9 minutes.
Education & Demographics
31.7% of New Hope 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 3.0% White, 1.8% Hispanic or Latino, 0.0% Black or African American, and 0.6% Asian residents, with 5.0% of the population being foreign-born.
Cost of Living in New Hope, TX
Compared to national averages, New Hope has a median household income of $65,625 (13% below the national median of $75,149). Home values average $405,600, which is 66% above the national median. Monthly rent at $1,841 is 58% above the US average of $1,163. Within Texas, New Hope's income is 10% below the state average of $72,726, and home values are 92% above the state median of $211,769.
Why Live in New Hope, TX?
New Hope offers a strong job market with an unemployment rate of just 2.3%, and a low poverty rate of 8.9%, better than the national average.
Potential considerations include median household income ($65,625) that falls below the national average, and a competitive housing market where the typical home costs $405,600. However, New Hope’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Hope has a population of 705 with a median age of 53.4 years. Compare New Hope with other cities to see how it stacks up, or explore all cities in Texas.
Similar Cities Near New Hope
Cities in Texas with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| North San Pedro | 705 | $33,622 | $89,800 | Compare |
| Louise | 706 | $0 | $107,000 | Compare |
| Hardin | 702 | $54,625 | $128,800 | Compare |
| Loraine | 702 | $34,605 | $57,800 | Compare |
| Horseshoe Bend | 709 | $41,875 | $112,500 | Compare |
| Port O'Connor | 698 | $81,917 | $248,800 | Compare |
| Colmesneil | 697 | $46,250 | $107,000 | Compare |
| Orason | 697 | $71,386 | $0 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Texas
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, TX?
The population of New Hope, TX is 705 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Texas.
What is the median household income in New Hope?
The median household income in New Hope, TX is $65,625 per year, which is 13% below the national median of $75,149.
What is the median home value in New Hope?
The median home value in New Hope, TX is $405,600, which is 66% above 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, TX is $1,841, which is 58% above the national average of $1,163/month.
What is the unemployment rate in New Hope?
The unemployment rate in New Hope, TX is 2.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Hope, TX a good place to live?
New Hope offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 705 and a median age of 53.4, the city appeals to established professionals and retirees.
How educated is New Hope, TX?
31.7% 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, TX: median home value is $405,600 (66% above national), median rent is $1,841/month, and median household income is $65,625. The home-value-to-income ratio is 6.2x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in New Hope?
The poverty rate in New Hope, TX is 8.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Hope, TX?
New Hope's population is 3.0% White, 1.8% Hispanic or Latino, 0.0% Black or African American, 0.6% Asian, and 0.0% two or more races. 5.0% of residents are foreign-born.