Living in New Hope, Texas
Cost of living, income, home prices, rent and demographics of New Hope · Census data 2020–2024
New Hope has 680 residents with a median age of 53.6. The median household income is $64,306 (18% lower than the Texas median), the median home value is $422,800, the median rent is $1,827/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
- 680
- Median age
- 53.6State: 35.6
- Median household income
- $64,306State: $78,476
- Median home value
- $422,800State: $283,800
- Median rent
- $1,827/moState: $1,403
- Homeowners
- 70%
- Bachelor's degree or higher
- 32%
- Average commute
- 29 min
Is New Hope a good place to live?
Pros: Unemployment of 2%; a poverty rate of 8.8%.
Cons: Median household income 18% lower than the Texas median; home values 49% higher than the state median; an average commute of 29 minutes.
The weather is best in March to May and 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 $422,800, 27% higher than the U.S. median. Renters pay a median of $1,827 per month, which is 44.4% of household income. Homeowners with a mortgage pay $2,269 a month in housing costs.
New Hope median household income
The median household income in New Hope is $64,306 and the income per person is $42,865. 8.8% of residents live below the poverty line (Texas: 13.8%).
Housing in New Hope: homes for sale and rent
- Housing units
- 285
- Owner-occupied
- 70%
- Renter-occupied
- 30%
- Vacant
- 0.7%Includes seasonal homes
- Median year built
- 1985
- Average household size
- 2.40
New Hope demographics
- Population
- 680
- Median age
- 53.6
- Under 18
- 15.6%
- 65 and older
- 30.3%
- Households
- 283
- Foreign-born
- 3.5%
- Veterans
- 8.9%Adults 18+
Hispanic or Latino can be of any race. Population history of New Hope ›
Education in New Hope
32% of adults 25 and older in New Hope have a bachelor's degree or higher (Texas: 33.8%), and 8.8% have a graduate or professional degree.
Jobs and commute in New Hope
- Unemployment rate
- 2%State: 5.3%
- Average commute
- 29 minState: 27 min
- Work from home
- 13.3%
- Drive alone
- 79.9%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 67.5%
New Hope vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| New Hope | 680 | $64,306 | $422,800 | $1,827 |
| Lowry Crossing | 1,433 | $116,875 | $396,900 | $1,208 |
| Princeton | 25,229 | $105,200 | $331,000 | $2,239 |
| Melissa | 20,136 | $138,763 | $454,000 | $2,532 |
| McKinney | 210,600 | $124,215 | $471,800 | $1,901 |
| Fairview | 10,783 | $109,347 | $597,300 | $1,947 |
| Lucas | 8,351 | $221,364 | $941,900 | — |
| Anna | 24,330 | $105,593 | $351,700 | $2,105 |
| Seis Lagos | 1,391 | $248,854 | $753,600 | — |
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, TX?
The median household income in New Hope is $64,306, 18% lower than the Texas median of $78,476 (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 $422,800, compared with $283,800 in Texas.
How much is rent in New Hope?
The median gross rent in New Hope is $1,827 per month, about 44.4% of household income.
Is New Hope, TX a good place to live?
Pluses: unemployment of 2%; a poverty rate of 8.8%. Minuses: median household income 18% lower than the Texas median; home values 49% higher than the state median; an average commute of 29 minutes.
What is the median age in New Hope?
The median age in New Hope is 53.6 years (Texas: 35.6).
How long is the commute in New Hope?
The average commute to work in New Hope is 29 minutes; 13.3% of workers work from home.
What is the unemployment rate in New Hope?
The unemployment rate in New Hope is 2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is New Hope?
32% 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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