The typical owner-occupied home in New Hope is worth about $716,200, 2.8 times the Pennsylvania median of $254,500 and 2.2 times the national median of $332,700. Owners pay a median $5,920 a year in property taxes, about 0.83% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $175,156 a year, so the median home costs 4.1 times the median income (3.3 times for Pennsylvania). 71% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
New Hope at a glance
| New Hope | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $716,200 | $254,500 | $332,700 |
| Median property tax paid per year | $5,920 | $3,311 | $3,119 |
| Property tax as a share of value | 0.83% | 1.30% | 0.94% |
| Median household income | $175,156 | $77,971 | $80,734 |
| Homes lived in by their owners | 71% | 69% | 65% |
| Owner homes with a mortgage | 49% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,929 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 16.9% | 19.4% | 21.0% |
| Median rent | $2,000 | $1,209 | $1,413 |
| Rent as a share of renters' income | 36.9% | 29.2% | 30.6% |
| Median year homes were built | 1977 | 1965 | 1980 |
| Vacant homes | 11.0% | 9.2% | 10.1% |
| Population | 2,622 | 13,018,639 | 334,922,499 |
What a typical home costs per month in New Hope
At this week's average 30-year rate of 7.11%, buying the median New Hope home of $716,200 with 20% down costs about $4,648 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,841, 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 $199,206 for the 20%-down payment. That payment is 32% of the median New Hope household income of $175,156; at that income and 20% down, the 28% guideline points to a home of about $630,000.
The median rent here is $2,000 a month, so owning the median home costs about $2,648 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $143,240 |
|---|---|
| Loan amount | $572,960 |
| Principal and interest | $3,854 |
| Property taxes (0.83% a year) | $495 |
| Homeowners insurance (our estimate, 0.5% a year) | $298 |
| PMI | $0 |
| Total per month | $4,648 |
Change the numbers in the calculator
| Down payment | $25,067 |
|---|---|
| Loan amount | $703,228 |
| Principal and interest | $4,731 |
| Property taxes (0.83% a year) | $495 |
| Homeowners insurance (our estimate, 0.5% a year) | $298 |
| FHA mortgage insurance | $317 |
| Total per month | $5,841 |
Change the numbers in the calculator
Questions about home buying in New Hope
What is the median home value in New Hope?
About $716,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in New Hope?
Homeowners pay a median $5,920 a year, which is about 0.83% 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 New Hope?
For the median home with 20% down at 7.11%, the payment is about $4,648 a month. Keeping that under 28% of gross income takes about $199,206 a year.
More about New Hope
- Mortgage Refinance in New Hope
- Debt Relief in New Hope
- Home Equity Loans in New 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