States › Virginia › Hopewell

Is Hopewell, VA expensive to live in?

OKRent takes 27 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,30725% lower than U.S. average
💵 Families earn per year (2026)$59,025about $4,919/month · 32% lower than U.S. average
🔑 House price$181,60045% lower than U.S. average

Rent is lower than in 69% of U.S. cities. A typical house costs about 3.1 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $52,280 a year. That is $25 an hour at a full-time job.

Is rent cheaper than other Virginia cities?

Yes. Rent here is cheaper than in most of Virginia. It is number 37 of 199 cities from cheapest to most expensive.

Hopewell
$1,307
Waynesboro
$1,265
Christiansburg
$1,221
McNair
$2,355
West Springfield
$2,298
Montclair
$2,886
Chantilly
$2,573

How much do households earn in Hopewell?

Under $25k
17.0%
$25k–50k
24.4%
$50k–100k
34.5%
$100k–150k
8.5%
$150k+
5.5%

Share of households by yearly income. 14.0% of households earn $100,000 or more.

Rent by apartment size in Hopewell

SizeHopewellU.S. average
Studio$859$1,338
1 bedroom$970$1,324
2 bedrooms$1,113$1,509
3 bedrooms$1,313$1,698
4 bedrooms$1,801$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Hopewell overall?

Everyday prices in Virginia overall are 1% above the U.S. average (index 101.1, U.S. = 100).

Housing
107
Goods (food, clothes…)
100
Utilities
92
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Hopewell, so the Virginia figure is shown.

Taxes and bills in Hopewell

🏛️ Property tax$1,564a year · 0.86% of home value · U.S. $3,119
⚡ Electric bill$171a month (typical) · U.S. $156

Life in Hopewell

Commute to work26 minU.S.: 26.4 min
College degree13.7%U.S.: 35.7%
Own their home57.9%U.S.: 65.2%
Below poverty line21.8%U.S.: 12.5%
Unemployment9.2%U.S.: 5.2%

Is it cheaper to rent or buy in Hopewell?

About the same. Renting and owning cost within $47 of each other each month.

Renting
$1,307
Owning
$1,260

Owning assumes a typical $181,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $18,160 for the down payment.

Frequently asked questions

What is the average rent in Hopewell, VA?

Renting in Hopewell costs a median of about $1,307 a month in 2026, including utilities. The Virginia median is $2,049.

How much do I need to make to live in Hopewell?

To keep rent under 30% of income, you need about $52,280 a year, or $25 an hour at a full-time job.

Is Hopewell cheap or expensive?

Hopewell is rated OK: rent takes 26.6% of the typical household income of $59,025. It ranks 37th cheapest of 199 Virginia cities we track.

How much are property taxes in Hopewell?

The median homeowner in Hopewell pays $1,564 a year in property taxes, about 0.86% of the median home value.

Is Hopewell more expensive than the national average?

Overall prices in Virginia are 1% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Hopewell?

The median home value in Hopewell is $181,600, about 3.1 times the typical yearly household income.

22,959 people live in Hopewell. Numbers are typical (middle) values.