Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 9,891 people, 3,364 houses or apartments, and a median cost of homes of $78,996, 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 71.14% of the city's housing units. Other types of housing that are prevalent in Hope include duplexes, homes converted to apartments or other small apartment buildings ( 11.89%), mobile homes or trailers ( 10.77%), and a few large apartment complexes or high rise apartments ( 4.59%).
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 55.78% owning and 44.22% 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 ( 31.66%). A lesser amount of the housing stock also hails from before 1939 ( 11.60%). There's also some housing in Hope built between 2000 and later ( 6.85%).
Vacant housing appears to be an issue in Hope. Fully 24.68% 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.
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 5.32%, which ranks in the top 40% nationwide. This equates to an annual average Hope house appreciation rate of 0.52%.
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 0.05%, 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 1.85%, which equates to an annual appreciation rate of 7.59%.
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 lower than 80% of the other cities and towns in Arkansas.
|$789,001 - $1,051,000||0.0|
|$526,001 - $789,000||0.0|
|$421,001 - $526,000||0.0|
|$315,001 - $421,000||0.1|
|$210,001 - $315,000||2.2|
|$105,001 - $210,000||22.5|
|$52,001 - $105,000||42.7|
|$0 - $52,000||32.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Hope HOMES|
|2000 or Newer||6.9|
|1970 - 1999||49.9|
|1940 - 1969||31.7|
|1939 or Older||11.6|
|TYPE OF Hope HOMES|
|Small Apt. Buildings||11.9|
|SIZE OF Hope HOMES|
|5 or more bedrooms||1.21|