Cost of Living in Hopewell, PA

With a cost of living index of 62, Hopewell, PA is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 21% below the Pennsylvania state average of 83. Hopewell is a small community of 149 residents.

Housing costs are the biggest factor in Hopewell's cost of living. The median monthly rent is $658 (50% below the US median of $1,319), and the median home value sits at $104,200 (66% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Hopewell is $41,875, which is 44% lower than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.