Hopewell, VA
Population 22,944 · Virginia
About Hopewell, VA
Hopewell is a mid-sized city located in Virginia with a population of 22,944 residents according to the latest US Census Bureau American Community Survey data. The median household income is $48,681 per year, which is 35% below the national median of $75,149. The median age of 36.4 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 $165,100, which is 33% 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 $1,085, 7% below the national average of $1,163/month. Of the 10,434 total housing units, 56% are owner-occupied (5,230 units) and 44% are renter-occupied (4,188 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Hopewell shows an unemployment rate of 9.3%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 23.8%, above the national average of 12.4%. Workers in Hopewell have an average one-way commute time of 26.6 minutes.
Education & Demographics
12.5% of Hopewell 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 3.3% White, 1.3% Hispanic or Latino, 2.5% Black or African American, and 2.0% Asian residents, with 3.6% of the population being foreign-born.
Cost of Living in Hopewell, VA
Compared to national averages, Hopewell has a median household income of $48,681 (35% below the national median of $75,149). Home values average $165,100, which is 33% below the national median. Monthly rent at $1,085 is 7% below the US average of $1,163. Within Virginia, Hopewell's income is 45% below the state average of $87,957, and home values are 50% below the state median of $327,514.
Why Live in Hopewell, VA?
Hopewell offers affordable housing with a median home value of $165,100, below the US average of $244,900, and rent that’s lower than the national average at $1,085/month.
Potential considerations include median household income ($48,681) that falls below the national average. However, Hopewell’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hopewell has a population of 22,944 with a median age of 36.4 years. Compare Hopewell with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Hopewell
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| West Springfield | 22,905 | $157,800 | $612,200 | Compare |
| Leesylvania | 22,848 | $137,460 | $508,800 | Compare |
| Christiansburg | 22,820 | $75,451 | $242,900 | Compare |
| Waynesboro | 22,574 | $56,364 | $236,600 | Compare |
| McNair | 22,451 | $123,327 | $566,900 | Compare |
| Cherry Hill | 23,443 | $119,474 | $470,400 | Compare |
| Chester | 23,519 | $88,455 | $290,600 | Compare |
| Montclair | 22,295 | $143,357 | $561,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
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, VA?
The population of Hopewell, VA is 22,944 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Virginia.
What is the median household income in Hopewell?
The median household income in Hopewell, VA is $48,681 per year, which is 35% below the national median of $75,149.
What is the median home value in Hopewell?
The median home value in Hopewell, VA is $165,100, which is 33% 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, VA is $1,085, which is 7% below the national average of $1,163/month.
What is the unemployment rate in Hopewell?
The unemployment rate in Hopewell, VA is 9.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hopewell, VA a good place to live?
Hopewell offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 22,944 and a median age of 36.4, the city appeals to a broad range of residents.
How educated is Hopewell, VA?
12.5% 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, VA: median home value is $165,100 (33% below national), median rent is $1,085/month, and median household income is $48,681. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hopewell?
The poverty rate in Hopewell, VA is 23.8%, 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, VA?
Hopewell's population is 3.3% White, 1.3% Hispanic or Latino, 2.5% Black or African American, 2.0% Asian, and 41.2% two or more races. 3.6% of residents are foreign-born.