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Hopedale

Learn about the people, housing, costs and businesses in Hopedale, Illinois

Median Home$178,900
Median Rent$870/month
Population823
Leading IndustriesConstruction · Education · Agriculture & Mining8% construction
Home Value Growth⬆⬆+19.0% over 2 years
Retirees24% of residentsslightly above average
Homeowners85% of occupied units
NotableHigh Incomes$95k/year · top 21% nationally
NotableVeteran Community9% of residents · top 22% nationally
Hopedale
IL

Frequently Asked Questions

What are today's mortgage rates in Hopedale?

As of today, the 30-year fixed mortgage rate for Hopedale is approximately 6.831% (6.835% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Hopedale?

The median home value in Hopedale is $179k. The median monthly rent is $870. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Hopedale?

Home values in Hopedale have increased 19.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Hopedale?

Based on a typical all-in ownership cost of $1,102/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $47k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Hopedale is $95k/year.

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What industries drive the economy in Hopedale?

The largest employment sectors in Hopedale are public administration (19%) and retail (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.