Hopewell, VA Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 93, with 100 being the average.

  • The cost of living index in Hopewell is 0.9x lower than the national average.

  • Hopewell ranks as the #28 cheapest in Virginia out of 186.

  • Hopewell ranks as the #2,137 cheapest out of 6,412 in the US.

  • The median home value in Hopewell is $127,300.

  • The median income in Hopewell is $44,209.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
93
Hopewell's Overall Cost Of Living
0.9x
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 93, 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 102.

The standard of living in Hopewell ranks as #28 most affordable out of the 186 places we measured in Virginia. By definition, that implies Hopewell ranks as the #158 most expensive place in the Old Dominion.

For more reading on life in Hopewell, check out:

28 out of 186
In Virginia
2,137 out of 6,412
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 105.

  • The Groceries index in Hopewell is 94.

  • The Health index in Hopewell is 105.

  • The Housing index in Hopewell is 72.

  • The Transportation index in Hopewell is 90.

  • The Utilities index in Hopewell is 101.

Living Expense Hopewell Virginia National Average
Overall 93 102 100
Services 105 102 100
Groceries 94 98 100
Health 105 102 100
Housing 72 107 100
Transportation 90 95 100
Utilities 101 102 100
For more reading on cost of living around Virginia, check out:
Hopewell Cost of Living Vs. VA

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 2017-2021. The key points are:

  • The Median Home Value in Hopewell is $127,300.

  • The Median Rent in Hopewell is $957.

  • The Median Income in Hopewell is $44,209.

  • The Home Value To Income in Hopewell is 2.9x.

  • The Rent To Monthly Income in Hopewell is 0.26x.

Statistic Hopewell Virginia United States
Median Home Value $127,300 $295,500 $244,900
Median Rent $957 $1,326 $1,163
Median Income $44,209 $80,615 $69,021
Home Value To Income 2.9x 3.7x 3.5x
Rent To Monthly Income 0.26x 0.2x 0.2x
Search Homes For Sale In Hopewell, VA
$127,300
Median Home Value
$957
Median Rent
$44,209
Median Income

Hopewell, VA Costs By Category

Detailed Hopewell Services Costs Vs. Virginia

Item Hopewell Virginia
Shampoo $0.97 $1.06
Movie $11.73 $10.68
Bowling $18.0 $14.67
Haircut $21.36 $18.62
Beauty Salon $44.43 $39.05

Detailed Hopewell Groceries Costs Vs. Virginia

Item Hopewell Virginia
Ground Beef $3.61 $4.22
Fried Chicken $1.05 $1.39
Milk $1.58 $2.05
Potatoes $3.16 $3.29
Pizza $10.13 $10.62
Beer $9.82 $9.38
Toothpaste $1.85 $2.34

Detailed Hopewell Health Costs Vs. Virginia

Item Hopewell Virginia
Optometrist $116.2 $108.57
Doctor $139.74 $116.17
Dentist $99.4 $99.13

Detailed Hopewell Transportation Costs Vs. Virginia

Item Hopewell Virginia
Gasoline $2.01 $2.22
Tire Balancing $46.7 $50.07

Detailed Hopewell Utilities Costs Vs. Virginia

Item Hopewell Virginia
All Electricity $176.41 $167.67
Phone $177.97 $175.64

Hopewell SnackAbility

4
/10
Overall SnackAbility
Jobs
4/10
Housing
7
Affordability
6
Diversity
9.5
Safety
5
Amenities
9
Education
5
Commute
8

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 99, 1.1x Hopewell.

  • Petersburg, VA has a cost of living index of 92, 1.0x Hopewell.

  • Chester, VA has a cost of living index of 101, 1.1x Hopewell.

City Population Cost Of Living Vs. Hopewell
Richmond, VA 225,676 99 1.1x
Petersburg, VA 33,229 92 1.0x
Chester, VA 22,512 101 1.1x
Meadowbrook, VA 19,574 101 1.1x
Colonial Heights, VA 18,127 97 1.0x
Highland Springs, VA 14,823 95 1.0x
Manchester, VA 12,192 100 1.1x
Bellwood, VA 8,138 94 1.0x
Rockwood, VA 7,880 101 1.1x
Fort Lee, VA 6,271 108 1.2x

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