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Hopewell city Housing Market

Virginia · 133 counties · Ranked #1416 in home value

Below National Avg

Housing at a Glance

Median Home Value

$165,100

vs national$165,100 vs $281,900 national

Median Gross Rent

$1,085/mo

vs national$1,085 vs $1,163 national

Effective Tax Rate

0.97%

vs national0.97% vs 1.02% national

Median Household Income

$48,681

vs national$48,681 vs $74,755 national

Affordability Ratio

3.4x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

37.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$1,600

Tax as % of Home Value

0.97%

Monthly Owner Cost

$1,009

Renter Income

$35,132

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Frequently Asked Questions

What is the median home value in Hopewell city?

The median home value in Hopewell city is $165,100. This is below the national median of $281,900.

How much is rent in Hopewell city?

The median gross rent in Hopewell city is $1,085 per month.

What is the property tax rate in Hopewell city?

The effective property tax rate in Hopewell city is 0.97%. The median annual property tax bill is $1,600.

Is Hopewell city affordable?

With a home-value-to-income ratio of 3.4x, Hopewell city is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.