New Hope, VA
Population 917 · Virginia
About New Hope, VA
New Hope is a small community located in Virginia with a population of 917 residents according to the latest US Census Bureau American Community Survey data. The median household income is $87,083 per year, which is 16% above the national median of $75,149. The median age of 51.9 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 $314,400, which is 28% above 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 396 total housing units, 93% are owner-occupied (368 units) and 7% are renter-occupied (28 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Hope shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Hope have an average one-way commute time of 19.3 minutes, one of the shorter commutes in the region.
Education & Demographics
24.1% 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 0.0% White, 0.8% Hispanic or Latino, 0.0% Black or African American, and 1.4% Asian residents, with 2.8% of the population being foreign-born.
Cost of Living in New Hope, VA
Compared to national averages, New Hope has a median household income of $87,083 (16% above the national median of $75,149). Home values average $314,400, which is 28% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Virginia, New Hope's income is 1% below the state average of $87,957, and home values are 4% below the state median of $327,514.
Why Live in New Hope, VA?
New Hope offers a strong local economy with a median household income of $87,083, well above the national average, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 0.0%, better than the national average, and short commute times averaging just 19.3 minutes.
New Hope has a population of 917 with a median age of 51.9 years. Compare New Hope with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near New Hope
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Belview | 920 | $45,000 | $139,100 | Compare |
| Meadowview | 922 | $70,078 | $173,800 | Compare |
| Prices Fork | 909 | $75,568 | $273,800 | Compare |
| Disputanta | 931 | $128,517 | $0 | Compare |
| Chester Gap | 896 | $74,183 | $243,100 | Compare |
| Jarratt | 888 | $80,833 | $157,200 | Compare |
| New Kent | 887 | $166,375 | $430,400 | Compare |
| Springville | 953 | $44,286 | $94,600 | 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 New Hope With Other Cities
Frequently Asked Questions about New Hope
What is the population of New Hope, VA?
The population of New Hope, VA is 917 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Virginia.
What is the median household income in New Hope?
The median household income in New Hope, VA is $87,083 per year, which is 16% above the national median of $75,149.
What is the median home value in New Hope?
The median home value in New Hope, VA is $314,400, which is 28% 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, VA 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, VA is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Hope, VA a good place to live?
New Hope offers above-average incomes, a competitive housing market, and a strong job market. With a population of 917 and a median age of 51.9, the city appeals to established professionals and retirees.
How educated is New Hope, VA?
24.1% 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, VA: median home value is $314,400 (28% above national), median rent is $0/month, and median household income is $87,083. The home-value-to-income ratio is 3.6x, a moderate figure by national standards.
What is the poverty rate in New Hope?
The poverty rate in New Hope, VA is 0.0%, 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, VA?
New Hope's population is 0.0% White, 0.8% Hispanic or Latino, 0.0% Black or African American, 1.4% Asian, and 0.0% two or more races. 2.8% of residents are foreign-born.