Cost of Living in Hopewell, VA
Population 22,944 · Virginia · Data vintage 2023
(100 = US avg)
Hopewell is a smaller Virginia community of around 23000 residents, where median household incomes of $48,681 and housing costs ($165,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. A poverty rate near 24% adds context to the income figures — well above the US average, and worth factoring into any comparison with cities on the coasts or in the Rockies.
Located 20 miles southeast of Richmond, Hopewell falls within that metro's commuting orbit. Median home values run roughly 50% lower than Richmond's $328,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Hopewell
The median home value in Hopewell is $165,100 — 46% below the national median of $305,000. Median rent runs $1,085/month, 17% lower than the national median of $1,314/month. The median household income of $48,681/year is 35% lower than the US median of $74,580. The local unemployment rate is 9.3%, above the national average of 4.8%. Virginia's top state income tax rate is 5.8% and the combined sales tax is 5.6%. The climate averages highs of 69.5°F and lows of 48.4°F, with about 8.8" of annual snowfall. Overall, Hopewell has a cost of living index of 66 versus the US average of 100, meaning it is 34% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 48 | 52 | 60 | 70 | 78 | 86 | 90 | 88 | 81 | 71 | 60 | 52 |
| Low °F | 29 | 30 | 37 | 46 | 56 | 65 | 69 | 68 | 61 | 49 | 39 | 32 |
| Precip" | 3.23 | 2.61 | 4.00 | 3.18 | 4.00 | 4.64 | 4.37 | 4.90 | 4.61 | 3.39 | 3.06 | 3.51 |
| Snow" | 3.7 | 2.2 | 1.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.8 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Hopewell, VA?
Hopewell has a cost index of 66 (100 = national average). It is 34% below the national average.
What is average rent in Hopewell, VA?
The median gross rent in Hopewell is $1,085 per month based on 2023 Census data.
What is the average home price in Hopewell?
The median home value in Hopewell is $165,100 according to Zillow and Census data.
What is the median income in Hopewell?
The median household income in Hopewell is $48,681 per year (2023 ACS 5-year estimates).
What is the sales tax in Hopewell, VA?
The combined state and local sales tax rate in Hopewell is 5.6%. The Virginia state income tax top rate is 5.8%.
Is Hopewell, VA affordable?
Yes, Hopewell is generally considered affordable, with a cost of living index of 66 — about 34% below the US national average of 100.
What is the weather like in Hopewell?
Hopewell has average high temperatures of 69.5°F and average lows of 48.4°F. Annual precipitation is 45.5". Average annual snowfall is 8.8". Data from NOAA 1991–2020 Climate Normals.
Hopewell at a Glance
- Population
- 22,944
- Median Income
- $48,681
- Home Value
- $165,100
- Median Rent
- $1,085/mo
- Unemployment
- 9.3%
- Avg High Temp
- 69.5°F
- Sales Tax
- 5.6%
Explore county-level cost of living data
Virginia Rankings
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