Market Overview
Home Prices in Hopewell, VA
The median home value in Hopewell, VA is $237,497 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.5% compared to a year ago and up 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hopewell are priced42% below average. Hopewell is part of the Richmond, VA metro area.
Over the past five years, Hopewell home values have risen by approximately39.3%, reflecting strong long-term appreciation in this market.
Price History
Hopewell Home Price Trend
City Comparison
Hopewell vs. National Median
At $237,497, homes in Hopewell cost 42% below the national median of $410,000. This makes Hopewell a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hopewell?
20% Down Payment
$47,499
on $237,497
Monthly P&I
$1,239/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,574/mo
incl. taxes & insurance
Income Needed
$62,960
gross annual (30% rule)
10% Down Option
$23,750
+ PMI applies
Loan Amount (20% dn)
$189,998
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 Hopewell, VA?
The median home value in Hopewell is $237,497 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.5% year-over-year.
How much have home prices changed in Hopewell?
Over the past year, home values in Hopewell have increased by 2.5%. Over five years, prices have risen approximately 39.3%.
How much do I need to earn to buy a home in Hopewell?
To comfortably afford the median home price of $237,497 with a 20% down payment ($47,499) at today's rates (6.8%), you'd need a gross annual income of approximately $62,960. This assumes keeping total housing costs at or below 30% of gross income.
How does Hopewell compare to the national average home price?
The national median home value is approximately $410,000. At $237,497, homes in Hopewell are 42% below the national average.
What metro area is Hopewell part of?
Hopewell is part of the Richmond, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.