Hopewell, VA 23860 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Hopewell, VA—23860

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$227,000

0.2% YoY Growth

Household Income

$55,100

28.3% YoY Growth

Days on Market

20.0% Longer YoY

Home Price Forecast

3.0%

Median Rent

$1,180

4.1% YoY Growth

1-Bed Rent

$1,000

1.1% YoY Growth

2-Bed Rent

$1,090

5.9% YoY Growth

3-Bed Rent

$1,600

9.3% YoY Growth

Home Price Trends — Hopewell, VA

As of Nov '25, the median home price in Hopewell, VA is $227,000, with a year-over-year change of 0.2%. This indicates that home prices in Hopewell, VA are flat. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$227,000	0.2%
Single Family	$227,000	0.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Hopewell, VA

As of July '25, Rentcast reports the average rent in Hopewell, VA is $1,280, with a year-over-year rent change of 4.1%. Per bedroom, the median rent as of July '25 in Hopewell, VA is 1-bedrooms: $1,010, 2-bedrooms: $1,070, 3-bedrooms: $1,650, 4-bedrooms: $2,000. The most common rental property sizes in Hopewell, VA are 2-bedroom and 3-bedroom, accounting for 42.2% and 31.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,180	$1,280
Studio Rent	N/A	N/A
1 Bed Rent	$1,000	$1,010
2 Bed Rent	$1,090	$1,070
3 Bed Rent	$1,600	$1,650
4 Bed Rent	$1,800	$2,000

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% of Rental Stock

Studio

3.2%

1 Bedroom

9.9%

2 Bedrooms

42.2%

3 Bedrooms

31.4%

4 Bedrooms

11.8%

5+ Bedrooms

1.6%

Property Listings — Hopewell, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in Hopewell, VA is 38. This is a increase of 20.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$292,000	4.0%
Listing Count	138	12.0%
Listings as % of Homes	1.0%	12.0%
Days on Market	38	20.0%

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Demographics — Hopewell, VA

As of the latest ACS Survey released in 2023, Hopewell, VA has a population of 31,400, which has increased by 2.5% over the past 5 years. Hopewell, VA is a moderately popular place for families, as children make up 21.6% of the population. The area has a poorly educated workforce, with 14.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	31,400	2.5%
% Under 18	21.6%	0.0%
% Seniors	14.5%	-1.4%
% WFH	9.5%	171.4%
% w/ College Degree	14.1%	-10.2%

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As of the latest ACS Survey released in 2023, Hopewell, VA is a predominantly white area, with 42.8% of the population identifying as white. The white population has shrunk by 10.8% in the last 5 years. The second most common race or ethnicity in Hopewell, VA is black, making up 42.6% of the population. Foreign-born residents account for 3.3% of the population in Hopewell, VA, and this percentage has decreased by 10.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	42.8%	-10.8%
% Black	42.6%	4.7%
% Hispanic	7.9%	3.9%
% Asian	1.0%	-41.2%
% Foreign Born	3.3%	-10.8%

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Mortgage and Risk — Hopewell, VA

According to HUD data as of 2023, there were 594 mortgage originations in Hopewell, VA, of which 45.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 58.0% above 90% LTV (very high). This implies large mortgage risk in Hopewell, VA. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	594
% Conventional Loans	45.0%
% Government Loans	55.0%
% Investor Loans	3.0%
% Second Loans	0.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Hopewell, VA

As of 2024, the percent of homes in Hopewell, VA under the Section 8 program is 17.4%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hopewell, VA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

Section 8 Market Size

Total Units under HUD	1,025
Total Units Section 8	768
% Rentals under Section 8	17.4%
% Occupied Section 8	91.4%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$290	$1,000	$1,290
2 Bedroom	$340	$1,090	$1,430
3 Bedroom	$210	$1,600	$1,810
4 Bedroom	$440	$1,800	$2,240

Hopewell, VA—23860

Key Metrics at a Glance

Home Price Trends — Hopewell, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hopewell, VA

% of Rental Stock

Property Listings — Hopewell, VA

Demographics — Hopewell, VA

Race and Ethnicity

Mortgage and Risk — Hopewell, VA

Mortgages

Rentals and Section 8 — Hopewell, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Hopewell, VA

Home Price to Income Ratio

Hopewell, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Prince George, VA

Fort Lee, VA

Chester, VA

Disputanta, VA

Charles City, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.2
Median Home Price	$227,000
Median Household Income	$55,100

Hopewell, VA—23860

Key Metrics at a Glance

Home Price Trends — Hopewell, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Hopewell, VA

% of Rental Stock

Property Listings — Hopewell, VA

Demographics — Hopewell, VA

Race and Ethnicity

Mortgage and Risk — Hopewell, VA

Mortgages

Rentals and Section 8 — Hopewell, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Hopewell, VA

Home Price to Income Ratio

Hopewell, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Prince George, VA

Fort Lee, VA

Chester, VA

Disputanta, VA

Charles City, VA

Frequently Asked Questions

What is the average home price in Hopewell, VA 23860?

How have home prices in Hopewell, VA 23860 changed over the past year?

What is the home price projection for Hopewell, VA 23860?

What are the demographics of Hopewell, VA 23860?

How long does it take homes to sell in Hopewell, VA 23860?

What is the average rent price in Hopewell, VA 23860?