Hope, AR Profile: Facts & Data

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Hope, Arkansas - Basic Facts

The City of Hope had a population of 8,587 as of July 1, 2023. Hope ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Arkansas. See peer rankings below.

The primary coordinate point for Hope is located at latitude 33.6671 and longitude -93.5916 in Hempstead County. The formal boundaries for the City of Hope encompass a land area of 10.01 sq. miles and a water area of 0.08 sq. miles. Hempstead County is in the Central time zone (GMT -6).

The City of Hope has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The City of Hope is located within Township of De Roan, a minor civil division (MCD) of Hempstead County.


Jump to... (On This Page!)
  1. Hope 2023 Demographic Data
  2. Growth Rates for Hope (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Arkansas Research Tools (Easy Tools & Current Data)
  3. Arkansas Data Comparison Tool - 2023 Demographics
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Hope, AR Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 8,587 (100%)
Population in Households 8,323 (96.9%)
Population in Families 6,810 (79.3%)
Population in Group Quarters1 264 ( 3.1%)
Population Density 804
Diversity Index2 80
 
 

INCOME

Median Household Income $41,621
Average Household Income $62,152
% of Income for Mortgage4 14%
Per Capita Income $23,912
Wealth Index5 42
Socioeconomic Status Index6 Low (39.0)
 

HOUSING

Total HU (Housing Units) 4,038 (100%)
Owner Occupied HU 1,852 (45.9%)
Renter Occupied HU 1,446 (35.8%)
Vacant Housing Units 740 (18.3%)
Median Home Value $96,914
Average Home Value $126,336
Housing Affordability Index3 185
 

HOUSEHOLDS

Total Households 3,298
Average Household Size 2.52
Family Households 2,200
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population -1.27% -0.98%
Households -1.30% -0.90%
Families   -0.95%
Median Household Income   2.19%
Per Capita Income   1.99%
Owner Occupied HU   -0.86%

Hope, AR - Peer Comparisons by Rank and Percentile

The table below compares Hope to the other 625 incorporated cities, towns and CDPs in Arkansas by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 44 93rd
Population Density # 100 84th
Median Household Income # 418 33rd
Housing Affordability Index # 480 77th
Per Capita Income # 438 30th
Diversity Index # 4 100th

Additional comparisons and rankings can be made with a VERY EASY TO USE Arkansas Census Data Comparison Tool.

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