Cost of Living in New Hope, VA

With a cost of living index of 98, New Hope, VA is right around the national average in cost. Living here is 2% cheaper than the national average and 6% below the Virginia state average of 104. New Hope is a small community of 917 residents.

The median household income in New Hope is $87,083, which is 16% higher than the national median of $75,149.

Everyday prices in the Staunton-Stuarts Draft, VA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.