Hopewell, Virginia Income Statistics
Hopewell Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Hopewell Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Hopewell | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $56,431 | $93,527 | $80,455 |
| Median Personal Income | $43,406 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.2% | 4.3% | 4.8% |
| Six-Figure Earners | 4.6% | 18.3% | 13.9% |
| $200k+ Households | 5.0% | 17.7% | 13.2% |
The median household income in Hopewell is about 40% lower than in Virginia. Income has been growing slower in Hopewell (4.2%/yr) than in Virginia (4.3%/yr).
About 5% of adults in Hopewell earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Hopewell, Virginia grew by 44.3% from 2009 to 2024, reaching $56,431 in 2024. That's an average of about 4.2% per year.
Income Inequality and the Gender Pay Gap in Hopewell
| Metric | Hopewell | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.513 | 0.544 | 0.552 |
| Male Median Income | $47,301 | $78,585 | $69,667 |
| Female Median Income | $47,004 | $62,626 | $56,850 |
| Gender Pay Gap | 0.6% | 20.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Hopewell, it is 0.513, lower than Virginia's 0.544, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 1% more than women's income in Hopewell, Virginia.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hopewell, Virginia has narrowed from about 21% to 1% in 2024. Over that period the gap was widest at 26% in 2020. In dollar terms, the gap has narrowed by $7,703 since 2009.
Employment
| Metric | Hopewell | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 9.1% | 4.1% | 5.2% |
| Working from Home | 11.6% | 18.3% | 15.0% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 1,018 people are unemployed in Hopewell, Virginia.
The average commute time in Hopewell is 23 minutes, about the same as in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hopewell, Virginia has fallen from 17.1% to 9.1% in 2024. Over that period the rate peaked at 17.4% in 2012 and fell as low as 6.8% in 2019.
Hopewell, VA Wealth Compared With Nearby Cities
How Hopewell, VA compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Hopewell, VA | 22,899 | $56,431 #1/2 | 4.2%/yr #2/2 | 9.1% #1/2 | 0.513 #1/2 |
| Petersburg, VA | 33,537 | $50,908 | 5.8%/yr | 9.8% | 0.533 |
Conclusion
Considering all these factors, Hopewell, Virginia has an overall wealth index grade of D, making it somewhat worse than Virginia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hopewell, Virginia.
How Rich Is Hopewell, Virginia?
Hopewell has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $56,431, about 40% lower than the Virginia average of $93,527.
Are incomes growing in Hopewell, Virginia?
Between 2009 and 2024, the median household income in Hopewell, Virginia rose 44%, from $39,104 to $56,431. Over the same years, income here lagged behind Virginia as a whole: +44% against +55%.
What was the median household income in Hopewell in 2023?
In 2023, the median household income in Hopewell, Virginia was $48,706, down 4% from $50,625 in 2022. The Virginia median that year was $91,420.
What was the median household income in Hopewell in 2020?
In 2020, the median household income in Hopewell, Virginia was $43,125. By 2024 it had risen 31% to $56,431.
Is unemployment high in Hopewell, Virginia?
Unemployment in Hopewell, Virginia is 9.1%, well above the Virginia rate of 4.1%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Hopewell, Virginia?
The Gini coefficient in Hopewell is 0.513. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Hopewell, Virginia?
Since 2009, the income gap between men and women in Hopewell, Virginia has narrowed from about 21% to 1% in 2024. Over that period the gap was widest at 26% in 2020. In dollar terms, the gap has narrowed by $7,703 since 2009.
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