Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 22,944 ↓ 0.4% since 2020 |
| Median Household Income | $48,681 35% below national median |
| Median Home Value | $165,100 |
| Unemployment Rate | 9.2% |
| Median Age | 36.4 years |
| Housing Vacancy Rate | 9.7% |
| Total Land Sales (Past 12 Months) | 39 transactions |
| Active Listings | 14 properties |
| Avg Days on Market | 765 days |
Rural Land Sales (1+ Acres) (Feb 2026 – Feb 2026)
| Metric | Value |
|---|---|
| Median Price/Acre | $2,904 |
| Recent Sales | 7 transactions |
| Avg Days on Market | 633 days |
| Avg Parcel Size | 1.50 acres |
| Active Listings | 2 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Location |
|---|---|---|---|---|
| Feb 2026 | 1.98 | $5,750 | $2,904 | Hopewell |
| Feb 2026 | 2.23 | $5,750 | $2,584 | Hopewell |
Suburban/Urban Land Sales (Under 1 Acre) (Mar 2026 – Mar 2026)
| Metric | Value |
|---|---|
| Median Lot Price | $34,500 |
| Recent Sales | 32 transactions |
| Avg Days on Market | 794 days |
| Avg Parcel Size | 0.20 acres |
| Active Listings | 12 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Location |
|---|---|---|---|
| Mar 2026New | 0.11 | $39,950 | Hopewell |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 22,944 |
| Population (2020) | 23,033 |
| Population Growth | -0.39% |
| Median Household Income | $48,681 |
| Median Home Value | $165,100 |
| Total Housing Units | 10,434 |
| Vacant Housing Units | 1,016 |
| Housing Vacancy Rate | 9.7% |
| Median Age | 36.4 |
| Bachelor's Degree or Higher | 1,240 (5.4%) |
| Unemployment Rate | 9.2% |
Market Overview
Hopewell city, Virginia has a population of 22,944, which has declined 0.39% since 2020. The median household income is $48,681, below the national median of $74,580 by 34.7%. The housing vacancy rate of 9.7% suggests balanced market conditions. Hopewell city remains a key area for land acquisition in Virginia. Recent rural land sales show a median price of $2,904 per acre, with properties averaging 1.50 acres. There are currently 14 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Hopewell city, Virginia?
As of the 2023 American Community Survey, Hopewell city has a population of 22,944. The county has declined 0.39% since the 2020 Census.
What is the median household income in Hopewell city?
The median household income in Hopewell city is $48,681, which is 34.7% below the national median of $74,580.
Is Hopewell city growing or shrinking?
Hopewell city is shrinking. The population has declined 0.39% since 2020.
What is the housing market like in Hopewell city?
The median home value in Hopewell city is $165,100. The housing vacancy rate is 9.7%, which suggests balanced market conditions. The unemployment rate is 9.2%, reflecting the local economic conditions. Recent rural land sales (1+ acres) show a median price of $2,904 per acre. Suburban/urban lots under 1 acre have a median lot price of $34,500.
Does Reelvest buy land in Hopewell city, Virginia?
Yes! Reelvest Properties buys vacant land throughout Virginia, including Hopewell city. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.