Hopewell, VA Cost Of Living
Cost Of Living In Hopewell, VA Summary
Cost of living in Hopewell research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Hopewell is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Hopewell is 94, with 100 being the average.
The cost of living index in Hopewell is 0.9x lower than the national average.
Hopewell ranks as the #22 cheapest in Virginia out of 190.
Hopewell ranks as the #1,806 cheapest out of 6,489 in the US.
The median home value in Hopewell is $229,871.
The median income in Hopewell is $48,681.
Table Of Contents
Hopewell's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Hopewell, VA?
According to the most recent data on the cost of living, Hopewell has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to Virginia, Hopewell has a cost of living index that's 0.9x lower than Virginia's index of 110.
The standard of living in Hopewell ranks as #22 most affordable out of the 190 places we measured in Virginia. By definition, that implies Hopewell ranks as the #168 most expensive place in the Old Dominion.
For more reading on life in Hopewell, check out:
In Virginia
In America
Hopewell Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Hopewell. Here is how it fairs on each of the criteria:
The Services index in Hopewell is 99.
The Groceries index in Hopewell is 100.
The Health index in Hopewell is 97.
The Housing index in Hopewell is 76.
The Transportation index in Hopewell is 100.
The Utilities index in Hopewell is 106.
| Living Expense | Hopewell | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 94 | 110 | 100 | |
| Services | 99 | 101 | 100 | |
| Groceries | 100 | 99 | 100 | |
| Health | 97 | 98 | 100 | |
| Housing | 76 | 130 | 100 | |
| Transportation | 100 | 94 | 100 | |
| Utilities | 106 | 104 | 100 | |
Hopewell, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Hopewell is $229,871.
The Median Rent in Hopewell is $1,085.
The Median Income in Hopewell is $48,681.
The Home Value To Income in Hopewell is 4.7x.
The Rent To Monthly Income in Hopewell is 0.27x.
Median Home Value
Median Rent
Median Income
Hopewell, VA Costs By Category
Detailed Hopewell Services Costs Vs. Virginia
Detailed Hopewell Groceries Costs Vs. Virginia
Detailed Hopewell Health Costs Vs. Virginia
Detailed Hopewell Transportation Costs Vs. Virginia
Detailed Hopewell Utilities Costs Vs. Virginia
Hopewell SnackAbility
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Cost Of Living In Cities Around Hopewell
The cost of living varies in the cities and towns around Hopewell. Here's a quick look at the cost of living in the most populous nearby places:
Richmond, VA has a cost of living index of 106, 1.1x Hopewell.
Petersburg, VA has a cost of living index of 94, 1.0x Hopewell.
Chester, VA has a cost of living index of 109, 1.2x Hopewell.
| City | Population | Cost Of Living | Vs. Hopewell |
|---|---|---|---|
| Richmond, VA | 227,595 | 106 | 1.1x |
| Petersburg, VA | 33,365 | 94 | 1.0x |
| Chester, VA | 23,519 | 109 | 1.2x |
| Meadowbrook, VA | 20,383 | 102 | 1.1x |
| Colonial Heights, VA | 18,210 | 101 | 1.1x |
| Highland Springs, VA | 15,091 | 97 | 1.0x |
| Manchester, VA | 12,347 | 107 | 1.1x |
| Rockwood, VA | 8,834 | 113 | 1.2x |
| Bellwood, VA | 8,489 | 97 | 1.0x |
| Fort Lee, VA | 8,318 | 124 | 1.3x |
