Living in New Hope, Tennessee
Cost of living, income, home prices, rent and demographics of New Hope · Census data 2020–2024
New Hope has 862 residents with a median age of 38.9. The median household income is $77,727 (12% higher than the Tennessee median), the median home value is $179,600, the median rent is $775/month.
New Hope is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
New Hope at a glance
- Population
- 862
- Median age
- 38.9State: 38.9
- Median household income
- $77,727State: $69,595
- Median home value
- $179,600State: $286,700
- Median rent
- $775/moState: $1,189
- Homeowners
- 89.7%
- Bachelor's degree or higher
- 7.9%
- Average commute
- 24 min
Is New Hope a good place to live?
Pros: Median household income 12% higher than the Tennessee median; home values 37% lower than the state median; an average commute of 24 minutes.
Cons: Unemployment of 12.6%; a poverty rate of 23%.
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 $179,600, 46% lower than the U.S. median. Renters pay a median of $775 per month, which is 23% of household income. Homeowners with a mortgage pay $1,024 a month in housing costs.
New Hope median household income
The median household income in New Hope is $77,727 and the income per person is $28,994. 23% of residents live below the poverty line (Tennessee: 13.8%).
Housing in New Hope: homes for sale and rent
- Housing units
- 369
- Owner-occupied
- 89.7%
- Renter-occupied
- 10.3%
- Vacant
- 5.1%Includes seasonal homes
- Median year built
- 1983
- Average household size
- 2.46
New Hope demographics
- Population
- 862
- Median age
- 38.9
- Under 18
- 17.1%
- 65 and older
- 18.9%
- Households
- 350
- Foreign-born
- 0%
- Veterans
- 7.4%Adults 18+
Hispanic or Latino can be of any race. Population history of New Hope ›
Education in New Hope
7.9% of adults 25 and older in New Hope have a bachelor's degree or higher (Tennessee: 31.1%), and 3.4% have a graduate or professional degree.
Jobs and commute in New Hope
- Unemployment rate
- 12.6%State: 4.7%
- Average commute
- 24 minState: 26 min
- Work from home
- 10.2%
- Drive alone
- 84.6%
- Public transit
- 0%
- Walk to work
- 1.6%
- Homes with broadband
- 94.3%
New Hope vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| New Hope | 862 | $77,727 | $179,600 | $775 |
| South Pittsburg | 3,013 | $57,865 | $187,100 | $643 |
| Kimball | 1,639 | $60,543 | $231,400 | $754 |
| Bridgeport | 2,246 | $34,481 | $94,000 | $569 |
| Jasper | 3,612 | $73,013 | $209,000 | $787 |
| Sequatchie | 359 | $27,679 | — | — |
| Stevenson | 1,995 | $53,958 | $156,900 | $917 |
| New England | 391 | $26,374 | — | — |
| Trenton | 2,123 | $39,441 | $166,000 | $670 |
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, TN?
The median household income in New Hope is $77,727, 12% higher than the Tennessee median of $69,595 (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 $179,600, compared with $286,700 in Tennessee.
How much is rent in New Hope?
The median gross rent in New Hope is $775 per month, about 23% of household income.
Is New Hope, TN a good place to live?
Pluses: median household income 12% higher than the Tennessee median; home values 37% lower than the state median; an average commute of 24 minutes. Minuses: unemployment of 12.6%; a poverty rate of 23%.
What is the median age in New Hope?
The median age in New Hope is 38.9 years (Tennessee: 38.9).
How long is the commute in New Hope?
The average commute to work in New Hope is 24 minutes; 10.2% of workers work from home.
What is the unemployment rate in New Hope?
The unemployment rate in New Hope is 12.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is New Hope?
7.9% 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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