Market Overview
Home Prices in Hopedale, IL
The median home value in Hopedale, IL is $199,802 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.7% compared to a year ago and up 8.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hopedale are priced51% below average. Hopedale is part of the Peoria, IL metro area.
Over the past five years, Hopedale home values have risen by approximately38.0%, reflecting strong long-term appreciation in this market.
Price History
Hopedale Home Price Trend
City Comparison
Hopedale vs. National Median
At $199,802, homes in Hopedale cost 51% below the national median of $410,000. This makes Hopedale a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hopedale?
20% Down Payment
$39,960
on $199,802
Monthly P&I
$1,042/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,323/mo
incl. taxes & insurance
Income Needed
$52,920
gross annual (30% rule)
10% Down Option
$19,980
+ PMI applies
Loan Amount (20% dn)
$159,842
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Hopedale, IL?
The median home value in Hopedale is $199,802 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.7% year-over-year.
How much have home prices changed in Hopedale?
Over the past year, home values in Hopedale have increased by 7.7%. Over five years, prices have risen approximately 38.0%.
How much do I need to earn to buy a home in Hopedale?
To comfortably afford the median home price of $199,802 with a 20% down payment ($39,960) at today's rates (6.8%), you'd need a gross annual income of approximately $52,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Hopedale compare to the national average home price?
The national median home value is approximately $410,000. At $199,802, homes in Hopedale are 51% below the national average.
What metro area is Hopedale part of?
Hopedale is part of the Peoria, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.