The typical owner-occupied home in Hopedale is worth about $104,100, 52% below the Ohio median of $214,800 and 69% below the national median of $332,700. Owners pay a median $1,157 a year in property taxes, about 1.11% of their home's value, lower than the Ohio rate of 1.31%. The median household earns $47,045 a year, so the median home costs 2.2 times the median income (3.0 times for Ohio). 77% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Hopedale at a glance
| Hopedale | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $104,100 | $214,800 | $332,700 |
| Median property tax paid per year | $1,157 | $2,822 | $3,119 |
| Property tax as a share of value | 1.11% | 1.31% | 0.94% |
| Median household income | $47,045 | $71,389 | $80,734 |
| Homes lived in by their owners | 77% | 67% | 65% |
| Owner homes with a mortgage | 58% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,116 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 24.0% | 18.6% | 21.0% |
| Median rent | $950 | $1,034 | $1,413 |
| Rent as a share of renters' income | 30.7% | 28.3% | 30.6% |
| Median year homes were built | 1953 | 1970 | 1980 |
| Vacant homes | 10.5% | 8.1% | 10.1% |
| Population | 898 | 11,810,293 | 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 $104,100 with 20% down costs about $700 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $873, 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 $29,996 for the 20%-down payment. That payment is 18% of the median Hopedale household income of $47,045; at that income and 20% down, the 28% guideline points to a home of about $163,000.
The median rent here is $950 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $20,820 |
|---|---|
| Loan amount | $83,280 |
| Principal and interest | $560 |
| Property taxes (1.11% a year) | $96 |
| Homeowners insurance (our estimate, 0.5% a year) | $43 |
| PMI | $0 |
| Total per month | $700 |
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| Down payment | $3,644 |
|---|---|
| Loan amount | $102,214 |
| Principal and interest | $688 |
| Property taxes (1.11% a year) | $96 |
| Homeowners insurance (our estimate, 0.5% a year) | $43 |
| FHA mortgage insurance | $46 |
| Total per month | $873 |
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Questions about home buying in Hopedale
What is the median home value in Hopedale?
About $104,100 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 $1,157 a year, which is about 1.11% 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 $700 a month. Keeping that under 28% of gross income takes about $29,996 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