The typical owner-occupied home in Hopedale is worth about $424,800, 24% below the Massachusetts median of $562,100 and 28% above the national median of $332,700. Owners pay a median $6,023 a year in property taxes, about 1.42% of their home's value, higher than the Massachusetts rate of 1.07%. The median household earns $107,909 a year, so the median home costs 3.9 times the median income (5.4 times for Massachusetts). 75% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Hopedale at a glance
| Hopedale | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $424,800 | $562,100 | $332,700 |
| Median property tax paid per year | $6,023 | $5,992 | $3,119 |
| Property tax as a share of value | 1.42% | 1.07% | 0.94% |
| Median household income | $107,909 | $103,960 | $80,734 |
| Homes lived in by their owners | 75% | 63% | 65% |
| Owner homes with a mortgage | 60% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $2,696 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 23.1% | 21.9% | 21.0% |
| Median rent | $1,805 | $1,762 | $1,413 |
| Rent as a share of renters' income | 29.6% | 30.9% | 30.6% |
| Median year homes were built | 1942 | 1964 | 1980 |
| Vacant homes | 5.1% | 8.1% | 10.1% |
| Population | 4,360 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Hopedale
At this week's average 30-year rate of 7.11%, buying the median Hopedale home of $424,800 with 20% down costs about $2,966 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,673, 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 $127,106 for the 20%-down payment. That payment is 33% of the median Hopedale household income of $107,909; at that income and 20% down, the 28% guideline points to a home of about $361,000.
The median rent here is $1,805 a month, so owning the median home costs about $1,161 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $84,960 |
|---|---|
| Loan amount | $339,840 |
| Principal and interest | $2,286 |
| Property taxes (1.42% a year) | $503 |
| Homeowners insurance (our estimate, 0.5% a year) | $177 |
| PMI | $0 |
| Total per month | $2,966 |
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| Down payment | $14,868 |
|---|---|
| Loan amount | $417,106 |
| Principal and interest | $2,806 |
| Property taxes (1.42% a year) | $503 |
| Homeowners insurance (our estimate, 0.5% a year) | $177 |
| FHA mortgage insurance | $188 |
| Total per month | $3,673 |
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Questions about home buying in Hopedale
What is the median home value in Hopedale?
About $424,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hopedale?
Homeowners pay a median $6,023 a year, which is about 1.42% 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 Hopedale?
For the median home with 20% down at 7.11%, the payment is about $2,966 a month. Keeping that under 28% of gross income takes about $127,106 a year.
More about Hopedale
- Mortgage Refinance in Hopedale
- Debt Relief in Hopedale
- Home Equity Loans in Hopedale
- 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