Hope, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hope Neighborhoods Since 2000




Hope, AR Real Estate Data


Hope Housing Market Information

With 9,891 people, 3,435 houses or apartments, and a median cost of homes of $76,154, house prices in Hope are solidly below the national average.

Single-family detached homes are the single most common housing type in Hope, accounting for 69.74% of the city's housing units. Other types of housing that are prevalent in Hope include mobile homes or trailers ( 11.97%), duplexes, homes converted to apartments or other small apartment buildings ( 11.56%), and a few large apartment complexes or high rise apartments ( 5.08%).

The most prevalent building size and type in Hope are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.06% owning and 43.94% renting.

There is a lot of housing in Hope built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hope built between 1940-1969 ( 29.89%). A lesser amount of the housing stock also hails from before 1939 ( 10.03%). There's also some housing in Hope built between 2000 and later ( 5.29%).

Vacant housing appears to be an issue in Hope. Fully 21.38% of the housing stock is classified as vacant. Left unchecked, vacant Hope homes and apartments can be a drag on the real estate market, holding Hope real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hope Home Appreciation Rates

Appreciation rates for homes in Hope have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.81%, which ranks in the top 50% nationwide. This equates to an annual average Hope house appreciation rate of 0.66%.

Over the last year, Hope appreciation rates have trailed the rest of the nation. In the last twelve months, Hope's appreciation rate has been 4.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hope were at 4.12%, which equates to an annual appreciation rate of 17.55%.

Importantly, this makes Hope one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Arkansas, our data show that Hope's latest annual appreciation rate is higher than 80% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$76,154

Hope, AR HOME PRICES

Value Range
> $1,114,000 0.0
$835,001 - $1,114,000 0.0
$557,001 - $835,000 0.0
$446,001 - $557,000 0.0
$334,001 - $446,000 0.1
$222,001 - $334,000 3.7
$111,001 - $222,000 24.3
$56,001 - $111,000 34.5
$0 - $56,000 37.4

Low for AR
Very Low for Nation

Value Relative to Nation Value Relative to State
93.1603911694092 75.3521126760563

Number Of Homes And Apartments:
3,435

Rent & Ownership

 

Average Market Rent:
$712 / per month

Homeownership Rate

Homeownership
Owners 56.06
Renters 43.94
Vacant 21.38

Housing Market Details

 

Age of Homes

AGE OF Hope HOMES
2000 or Newer 5.3
1970 - 1999 54.8
1940 - 1969 29.9
1939 or Older 10.0

Types of Homes

TYPE OF Hope HOMES
Single-Family 69.7
Townhomes 1.6
Small Apt. Buildings 11.6
Apt. Complexes 5.1
Mobile Homes 12.0
Other 0.0

Home Size

SIZE OF Hope HOMES
No Bedroom 1.37
1 Bedroom 8.31
2 Bedrooms 30.79
3 Bedrooms 50.01
4 Bedrooms 8.03
5 or more bedrooms 1.49

Hope Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
38.61% 1.94% 6 4
* 10 is highest

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Zip Codes in Hope, AR