Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$215,859+2.2% YoY · prices are rising
Market right nowBalanced, leaning buyersMore homes for sale than last year, 29% have cut their price
Income needed to buy, per year$46,794About 0.9× the local median income ($52,359): affordable for a typical household
Days on market53 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.4%Zillow expects prices to rise slightly
The typical home in Hopewell City, VA is worth $215,859, up 2.2% from a year ago. That is well above what local incomes have historically supported: fair value is about $170,961, so the area is 26.3% overvalued. It is a balanced market, leaning toward buyers: homes take about 53 days to sell, listings are up 27% from a year ago, 29% of listings have had a price cut. Zillow expects prices to rise about 2.4% over the next year. A household needs about $46,794 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $52,359. Typical rent is $1,197 a month, or $1,572 for a house. In the latest IRS figures, 198 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$215,859
Change in 1 year
+2.2%
Overvalued %
+26.3%
Show 7 more
Fair home value
$170,961
Change in 5 years
+35.7%
Zillow forecast, next 12 months
+2.4%
Home value to income
4.1×
Monthly mortgage payment (20% down)
$1,170
Income needed to afford it
$46,794
Property tax rate
0.86%
Rent and investing
Typical rent
$1,197
Typical rent for houses
$1,572
Price-to-rent ratio
15.0×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,651
Gross rental yield
6.65%
Cap rate (estimate)
4.32%
Market activity
Listings vs a year ago
+26.9%
Days on market
53
Listings with a price cut
29.3%
Show 3 more
Homes for sale
85
Pending sales per 100 listings
55
Asking price per sq ft
$189
People and jobs
Median household income
$52,359
Population change (1 year)
+0.9%
Unemployment rate
9.2%
Show 4 more
Population
23,261
Income adjusted for cost of living
$53,482
Net moves in (IRS)
+198
Cost of living (US = 100)
97.9
Schools, risk and environment
School rating (1 to 10)
3.0
FEMA hazard risk score (0 to 100)
17.2
Flood risk score
48.6
Show 3 more
Wildfire risk score
3.2
Walkability (1 to 20)
7.7
Road, rail and air noise
54 dB
Questions people ask
Is Hopewell City, VA overvalued?
Home prices in Hopewell City, VA are well above what local incomes have historically supported: fair value is about $170,961, so the area is 26.3% overvalued.
Is Hopewell City, VA a buyer's or seller's market?
Hopewell City, VA is a balanced market, leaning toward buyers: homes take about 53 days to sell, listings are up 27% from a year ago, 29% of listings have had a price cut.
Are home prices going down in Hopewell City, VA?
Home values in Hopewell City, VA are up 2.2% over the last year. Zillow's forecast for the next 12 months is +2.4%.
How much do you need to earn to buy a home in Hopewell City, VA?
A household needs about $46,794 a year to afford the typical home in Hopewell City, VA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $52,359.