Market Overview
Home Prices in New Hope, TN
The median home value in New Hope, TN is $241,094 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.9% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in New Hope are priced41% below average. New Hope is part of the Chattanooga, TN-GA metro area.
Price History
New Hope Home Price Trend
2022
$210,494
$210K
—
2023
$218,809
$219K
+4.0%
2024
$226,036
$226K
+3.3%
2025
$229,928
$230K
+1.7%
2026
$241,094
$241K
+4.9%
City Comparison
New Hope vs. National Median
🏠 New Hope
$241,094
National Median
$410,000
At $241,094, homes in New Hope cost 41% below the national median of $410,000. This makes New Hope a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in New Hope?
20% Down Payment
$48,219
on $241,094
Monthly P&I
$1,257/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,596/mo
incl. taxes & insurance
Income Needed
$63,840
gross annual (30% rule)
10% Down Option
$24,109
+ PMI applies
Loan Amount (20% dn)
$192,875
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 New Hope, TN?
The median home value in New Hope is $241,094 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.9% year-over-year.
How much have home prices changed in New Hope?
Over the past year, home values in New Hope have increased by 4.9%.
How much do I need to earn to buy a home in New Hope?
To comfortably afford the median home price of $241,094 with a 20% down payment ($48,219) at today's rates (6.8%), you'd need a gross annual income of approximately $63,840. This assumes keeping total housing costs at or below 30% of gross income.
How does New Hope compare to the national average home price?
The national median home value is approximately $410,000. At $241,094, homes in New Hope are 41% below the national average.
What metro area is New Hope part of?
New Hope is part of the Chattanooga, TN-GA metropolitan area. Home prices and market conditions can vary across the broader metro region.