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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Hope, AR Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hope, AR Housing Market Trends

With a population of 8,624, 3,260 total housing units (homes and apartments), and a median house value of $118,616, 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 72.00% 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 ( 13.06%), mobile homes or trailers ( 9.39%), and a few large apartment complexes or high rise apartments ( 5.38%).

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 52.25% owning and 47.75% 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 ( 36.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.29%). There's also some housing in Hope built before 1939 ( 7.14%).

Vacant housing appears to be an issue in Hope. Fully 20.27% 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

Hope's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hope during the period has been just 5.20%, which is lower than 70% of US communities.

Appreciation rates are so strong in Hope that despite a nationwide downturn in the housing market, Hope real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hope appreciation rates continue to be some of the highest in America, at 7.25%, which is higher than appreciation rates in 84.81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hope. Hope appreciation rates in the latest quarter were at 1.23%, which equates to an annual appreciation rate of 5.01%.

Notably, Hope's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arkansas, our data show that Hope's latest annual appreciation rate is higher than 90% of the other cities and towns in Arkansas.

Average Home Values

Median Home Value

$118,616

Hope, AR Home Prices
> $1,438,000
$1,078,001 - $1,438,000
$719,001 - $1,078,000
$575,001 - $719,000
$431,001 - $575,000
$288,001 - $431,000
$144,001 - $288,000
$72,001 - $144,000
$0 - $72,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
1.0%
1.0%
0.1%
0.1%
4.0%
4.0%
27.9%
27.9%
53.5%
53.5%
13.5%
13.5%
0% 100.0%
% of Homes
Low

for Arkansas

Very Low

for nation

Number of Homes And Apartments:

3,260

Hope Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,311 / per month

Homeownership Rate

Owners
Renters
Vacant
52.2%
52.2%
47.8%
47.8%
20.3%
20.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.3%
7.3%
49.5%
49.5%
36.0%
36.0%
7.1%
7.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.0%
72.0%
0.2%
0.2%
13.1%
13.1%
5.4%
5.4%
9.4%
9.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.5%
4.5%
3.2%
3.2%
30.8%
30.8%
53.9%
53.9%
7.0%
7.0%
0.7%
0.7%
0% 100.0%
% of Homes