Hope Valley CDP Rhode Island Area Home Supply Charts

This page looks at a variety of Hope Valley CDP Rhode Island housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Hope Valley CDP depicts it has a Housing Units of 651 which is the second most housing units of all the places in the greater Hope Valley CDP region.

Figure 2 illustrates the housing density in the Hope Valley CDP housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Hope Valley CDP depicts it has a Housing Density of 195.9 which is in the mid range of other places in the local area. The place with the highest housing density in the area is Kingston CDP which depicts a density of 438.2 (approximately 2.2 times bigger). Comparing housing density to the United States average of 39.5, Hope Valley CDP is approximately 5.0 times bigger. Also, benchmarked against the state of Rhode Island, housing density of 465.4, Hope Valley CDP is approximately half the size.

In Figure 4, Hope Valley CDP area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Hope Valley CDP depicts it has a Housing Unit Change of -9.0% which is less than most other places in the area. The place with the highest change in the housing units in the area is Hopkinton CDP which depicts a housing units of 29.5% (approximately 3.3 times bigger). Comparing change in the housing units to the United States average of 7.4%, Hope Valley CDP is 21.1% larger. Also, compared with the state of Rhode Island, change in the housing units of 3.8%, Hope Valley CDP is approximately 2.3 times bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Hope Valley CDP depicts it has a Renter Percent of 33.2% which is the third most renter percent of all other places in the greater Hope Valley CDP region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 66.8% which is less than most other places in the greater region.

Hope Valley CDP Rhode Island Home Cost Charts

Looking at the housing data provided in Figure 7, the average Hope Valley CDP home price is illustrated for this community and a useful analysis of affordable housing. Hope Valley CDP depicts it has a Median Home Value of $327,000 which is the second most median home prices of all the places in the greater Hope Valley CDP region. The place with the highest median home price in the area is Kingston CDP which depicts a home price of $397,800 (21.7% larger). Figure 8 provides aggregate comparative data for the Hope Valley CDP Rhode Island metro area in terms of the median housing rental rate, apartment rent, etc. Hope Valley CDP depicts it has a Median Gross Rent of $1,191 which is the third most rental rates of all other places in the greater Hope Valley CDP region. The place with the highest rental rates in the area is Kingston CDP which depicts a rental rates of $1,568 (31.7% larger). Comparing rental rates to the United States average of $1,163, Hope Valley CDP is only slightly larger. Also, compared to the state of Rhode Island, rental rates of $1,097, Hope Valley CDP is 8.6% larger.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Hope Valley CDP has the largest proportion of home price worth less than $50,000 at 4% of the total and is ranked #1. Second, it has in the mid range of other places in the local area when sorted by home price worth between $50,000 to $100,000 at 4% of the total. Third, it has less than most other places in the metro area when ranked by home price worth between $100,000 to $200,000 at 36% of the total. Also, it has one of the largest proportions of home price worth between $300,000 to $400,000 at 32% of the total and is ranked #2. The only larger place being Kingston CDP with 41%.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Hope Valley CDP depicts it has a Median Owner Cost of $1,191 which is the second smallest as measured by median ownership cost of all the other places in the local area. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Hope Valley CDP metro area. it has a Owner Cost as % of HH Income of 14% which is the smallest as measured by cost as a percent of household income of all the other places in the metropolitan area. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Hope Valley CDP depicts it has a Median Home Value as Percent of Median Earnings of 923% which is the largest of all places in the greater region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Hope Valley CDP depicts it has a Median Owner Costs-With Mortgage of $1,980 which is the third most median housing cost of all other places in the greater Hope Valley CDP region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $861 which is the second most of all the places in the local area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Hope Valley CDP has the largest proportion of owner cost between $500 and $700 at 35% of the total and is ranked #1. Second, it has less than most other places in the greater region in terms of owner cost between $700 and $1,000 at 14% of the total. Third, it has less than most other places in the greater region when ranked by owner cost between $1,000 and $1,500 at 18% of the total. Also, it has the largest proportion of owner cost between $2,500 and $3,000 at 4% of the total and is ranked #1. In addition, it has the largest proportion of owner cost between $3,000 and $3,500 at 5% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Hope Valley CDP shows it has a % of Income Owner Costs-With Mortgage of 23% which is the third most of all other places in the metro area. The place with the highest cost as a percent of household income in the area is Wyoming CDP which depicts a cost as a percent of household income of 33% (41.8% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Hope Valley CDP depicts it has a % of Income Owner Costs-No Mortgage of 12% which is in the mid range of other places in the metropolitan area. The place with the highest cost as a percent of household income in the area is Carolina CDP which depicts a cost as a percent of household income of 21% (76.1% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Hope Valley CDP has the percentage of rent as a percent of income is between 10pct to 20pct in the mid point range of other places in the local area at 34% of the total. Second, it has one of the largest proportions of rent as a percent of income is between 20pct to 30pct at 31% of the total and is ranked #2. The only larger place being Hopkinton CDP with 32%. Third, it has one of the largest proportions of rent as a percent of income is between 30pct to 40pct at 28% of the total and is ranked #2. The only larger place being Carolina CDP with 36%. Also, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 7% of the total and is ranked #3. Only #2 Kingston CDP (18%), and #1 Bradford CDP (43%) are larger.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Hope Valley CDP has the largest proportion of housing cost between $2,500 and $3,000 at 6% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $5,672 which is the second most median real estate taxes paid of all the places in the greater Hope Valley CDP region. The place with the highest median real estate taxes paid in the area is Wyoming CDP which depicts a taxes paid of $7,534 (32.8% larger). Comparing median real estate taxes paid to the United States average of $2,690, Hope Valley CDP is about twice as large. Also, compared with the state of Rhode Island, median real estate taxes paid of $4,483, Hope Valley CDP is 26.5% larger.

Figure 23 shows the rental rate distribution for this area. Hope Valley CDP Rhode Island has one of the largest proportions of rent between 750 and 1000 dollars at 56% of the total and is ranked #2. The only larger place being Ashaway CDP with 91%. Second, it has one of the largest proportions of rent between 1000 and 1500 dollars at 37% of the total and is ranked #2. The only larger place being Kingston CDP with 45%.

Hope Valley CDP Rhode Island Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Hope Valley CDP has the smallest proportion of With mortgage at 40% of the total. Second, it has the largest proportion of Primary Mortgage and HELOC at 2% of the total and is ranked #1. Third, it has the largest proportion of With HELOC no Primary Mortgage at 49% of the total and is ranked #1.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Hope Valley CDP has the largest proportion of houses with mortgages at 49% of the total and is ranked #1.

Hope Valley CDP Rhode Island Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.3 which is the third most of all other places in the surrounding region. The place with the highest family members per housing unit in the area is Hopkinton CDP which indicates a family members per housing unit of 3.7 (12.5% larger). Comparing family members per housing unit to the United States average of 3.3, Hope Valley CDP is about the same size. Also, in comparison with the state of Rhode Island, family members per housing unit of 3.2, Hope Valley CDP is only about 3.9% larger.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.2 which is less than most other places in the area. The place with the highest average number of rooms in a house in the area is Kingston CDP which shows an average number of rooms in a house of 6.9 (32.7% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1966 which is in the mid range of other places in the metro area. The place with the highest year built in the area is Hopkinton CDP which depicts a year built of 1993 ( only slightly larger).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has the largest proportion of homes built in 2020 or later at 9% of the total and is ranked #1. Second, it has one of the largest proportions of homes built between 2010 to 2019 at 6% of the total and is ranked #3. Only #2 Carolina CDP (9%), and #1 Hopkinton CDP (28%) are larger. Third, it has less than most other places in the metropolitan area when ranked by homes built between 2000 to 2009 at 2% of the total. Also, it has the largest proportion of homes built between 1990 to 1999 at 23% of the total and is ranked #1. In addition, it has less than most other places in the metro area when ranked by homes built between 1980 to 1989 at 7% of the total. Furthermore, it has the second smallest when ranked by homes built in 2020 or later of all the other places in the metropolitan area when sorted by homes built between 1970 to 1979 at 5% of the total. Next it has one of the largest proportions of homes built between 1960 to 1969 at 10% of the total and is ranked #2. The only larger place being Ashaway CDP with 15%. Additionally, it has one of the largest proportions of homes built between 1950 to 1959 at 16% of the total and is ranked #2. The only larger place being Ashaway CDP with 21%. And then, it has the second smallest as measured by homes built in 2020 or later of all the other places in the local area in terms of homes built between 1940 to 1949 at 21% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 190 of the total and is ranked #2. The only larger place being Bradford CDP with 272.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has one of the largest proportions of one unit attached at 3% of the total and is ranked #3. Only #2 Ashaway CDP (10%), and #1 Bradford CDP (52%) are larger. Second, it has the largest proportion of 2 units at 21% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 2014 or later at $381,300 of the total and is ranked #1. Second, it has one of the largest proportions of value of homes built 1990 to 1999 at $429,400 of the total and is ranked #2. The only larger place being Kingston CDP with $431,000. Third, it has less than most other places in the area when sorted by value of homes built 1940 to 1949 at $227,800 of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Hope Valley CDP residents. it has a Owner-Household Size of 2.6 which is in the mid point range of other places in the greater region. The place with the highest homeowner household size in the area is Hopkinton CDP which depicts a homeowner household size of 3.0 (17.6% larger).

Figure 37 shows the household size for renters. Hope Valley CDP shows it has a Renter-Household Size of 3.9 which is is the uppermost of the places in the greater Hope Valley CDP region. Figure 38 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2019 or later at 42% of the total and is ranked #1. Second, it has in the middle range of other places in the area in terms of owners moved in 2010 to 2014 at 12% of the total. Third, it has the smallest proportion of owners moved in 2000 to 2009 at 4% of the total. Figure 39 shows the year that people who rent moved into the area. Hope Valley CDP has the largest proportion of renters moved in 2019 or later at 98% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2007 which is the second most median year that a home owner moved in of all the places in the greater Hope Valley CDP region. Figure 41 compares the median year that renters moved into their home. Hope Valley CDP depicts it has a Renter Median Year Moved In of 2017 which is the largest of all places in the greater Hope Valley CDP region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has one of the largest proportions of home using bottled, tank, or lp gas at 13% of the total and is ranked #2. The only larger place being Carolina CDP with 22%. Second, it has the largest proportion of homes using coal or coke at 25% of the total and is ranked #1.