The typical owner-occupied home in Hope is worth about $91,900, 51% below the Arkansas median of $188,000 and 72% below the national median of $332,700. Owners pay a median $541 a year in property taxes, about 0.59% of their home's value, higher than the Arkansas rate of 0.55%. The median household earns $37,500 a year, so the median home costs 2.5 times the median income (3.1 times for Arkansas). 60% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Hope at a glance
| Hope | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $91,900 | $188,000 | $332,700 |
| Median property tax paid per year | $541 | $1,040 | $3,119 |
| Property tax as a share of value | 0.59% | 0.55% | 0.94% |
| Median household income | $37,500 | $60,773 | $80,734 |
| Homes lived in by their owners | 60% | 66% | 65% |
| Owner homes with a mortgage | 40% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,174 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 20.7% | 18.5% | 21.0% |
| Median rent | $823 | $947 | $1,413 |
| Rent as a share of renters' income | 35.5% | 27.6% | 30.6% |
| Median year homes were built | 1976 | 1987 | 1980 |
| Vacant homes | 16.7% | 13.5% | 10.1% |
| Population | 8,671 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Hope
At this week's average 30-year rate of 7.11%, buying the median Hope home of $91,900 with 20% down costs about $578 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $731, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $24,774 for the 20%-down payment. That payment is 18% of the median Hope household income of $37,500; at that income and 20% down, the 28% guideline points to a home of about $139,000.
The median rent here is $823 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,380 |
|---|---|
| Loan amount | $73,520 |
| Principal and interest | $495 |
| Property taxes (0.59% a year) | $45 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| PMI | $0 |
| Total per month | $578 |
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| Down payment | $3,216 |
|---|---|
| Loan amount | $90,235 |
| Principal and interest | $607 |
| Property taxes (0.59% a year) | $45 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| FHA mortgage insurance | $41 |
| Total per month | $731 |
Change the numbers in the calculator
Questions about home buying in Hope
What is the median home value in Hope?
About $91,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hope?
Homeowners pay a median $541 a year, which is about 0.59% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Hope?
For the median home with 20% down at 7.11%, the payment is about $578 a month. Keeping that under 28% of gross income takes about $24,774 a year.
More about Hope
- Mortgage Refinance in Hope
- Debt Relief in Hope
- Home Equity Loans in Hope
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data