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New Hope

Learn about the people, housing, costs and businesses in New Hope, Alabama

Median Home$187,649
Median Rent$1,086/month
Population2,542
Leading IndustriesManufacturing · Arts, Food & Hospitality · Healthcare3% manufacturing
Home Value Growth+8.5% over 2 years
Family-Friendly29% of residentswell above average
Homeowners83% of occupied units
NotableVeteran Community16% of residents · top 1% nationally
New Hope
AL

Frequently Asked Questions

What are today's mortgage rates in New Hope?

As of today, the 30-year fixed mortgage rate for New Hope is approximately 6.972% (7.011% 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 New Hope?

The median home value in New Hope is $188k. The median monthly rent is $1,086. Annual property taxes average $715. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Hope?

Home values in New Hope have increased 8.5% over the past two years. This represents moderate growth. 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 New Hope?

Based on a typical all-in ownership cost of $1,050/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $45k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Hope is $66k/year.

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What industries drive the economy in New Hope?

The largest employment sectors in New Hope are public administration (21%) and healthcare (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.