Living in New Hope, Alabama
Cost of living, income, home prices, rent and demographics of New Hope · Census data 2020–2024
New Hope has 2,911 residents with a median age of 34.2. The median household income is $83,816 (31% higher than the Alabama median), the median home value is $163,700, the median rent is $1,075/month.
New Hope at a glance
- Population
- 2,911
- Median age
- 34.2State: 39.3
- Median household income
- $83,816State: $63,999
- Median home value
- $163,700State: $209,900
- Median rent
- $1,075/moState: $1,007
- Homeowners
- 81.9%
- Bachelor's degree or higher
- 29.3%
- Average commute
- 22 min
Is New Hope a good place to live?
Pros: Median household income 31% higher than the Alabama median; home values 22% lower than the state median; an average commute of 22 minutes; a poverty rate of 13.1%.
Cons: Unemployment of 6.9%.
The weather is best in April–May and September–October.
Cost of living in New Hope
Housing is the biggest part of the cost of living. In New Hope the median home value is $163,700, 51% lower than the U.S. median. Renters pay a median of $1,075 per month, which is 41.2% of household income. Homeowners with a mortgage pay $1,130 a month in housing costs.
New Hope median household income
The median household income in New Hope is $83,816 and the income per person is $30,104. 13.1% of residents live below the poverty line (Alabama: 15.6%).
Housing in New Hope: homes for sale and rent
- Housing units
- 1,105
- Owner-occupied
- 81.9%
- Renter-occupied
- 18.1%
- Vacant
- 10.8%Includes seasonal homes
- Median year built
- 1989
- Average household size
- 2.95
New Hope demographics
- Population
- 2,911
- Median age
- 34.2
- Under 18
- 37.5%
- 65 and older
- 10%
- Households
- 986
- Foreign-born
- 0.3%
- Veterans
- 16.3%Adults 18+
Hispanic or Latino can be of any race. Population history of New Hope ›
Education in New Hope
29.3% of adults 25 and older in New Hope have a bachelor's degree or higher (Alabama: 28.4%), and 3.6% have a graduate or professional degree.
Jobs and commute in New Hope
- Unemployment rate
- 6.9%State: 4.7%
- Average commute
- 22 minState: 26 min
- Work from home
- 1.8%
- Drive alone
- 78.4%
- Public transit
- 0%
- Walk to work
- 3.9%
- Homes with broadband
- 91.2%
New Hope vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| New Hope | 2,911 | $83,816 | $163,700 | $1,075 |
| Owens Cross Roads | 2,826 | $86,188 | $227,000 | $946 |
| Grant | 1,336 | $91,477 | $239,400 | $543 |
| Paint Rock | 141 | $51,250 | $75,000 | — |
| Woodville | 947 | $54,000 | $184,600 | $588 |
| Gurley | 607 | $56,964 | $194,800 | $1,054 |
| Cherokee Ridge | 577 | $171,368 | $336,400 | — |
| Guntersville | 8,916 | $67,929 | $324,800 | $842 |
| Arab | 8,679 | $64,333 | $215,200 | $718 |
More for people moving to New Hope
New Hope ZIP code ›Weather and climate ›Living in New Hope: FAQ
What is the median household income in New Hope, AL?
The median household income in New Hope is $83,816, 31% higher than the Alabama median of $63,999 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in New Hope?
The median home value in New Hope is $163,700, compared with $209,900 in Alabama.
How much is rent in New Hope?
The median gross rent in New Hope is $1,075 per month, about 41.2% of household income.
Is New Hope, AL a good place to live?
Pluses: median household income 31% higher than the Alabama median; home values 22% lower than the state median; an average commute of 22 minutes; a poverty rate of 13.1%. Minuses: unemployment of 6.9%.
What is the median age in New Hope?
The median age in New Hope is 34.2 years (Alabama: 39.3).
How long is the commute in New Hope?
The average commute to work in New Hope is 22 minutes; 1.8% of workers work from home.
What is the unemployment rate in New Hope?
The unemployment rate in New Hope is 6.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is New Hope?
29.3% of adults in New Hope have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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