Hope, NJ Profile: Facts & Data

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Hope, New Jersey - Basic Facts

The Hope Census Designated Place had a population of 190 as of July 1, 2020. Hope ranks in the lower quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in New Jersey. See peer rankings below.

The primary coordinate point for Hope is located at latitude 40.9112 and longitude -74.9674 in Warren County. The formal boundaries for the Hope Census Designated Place encompass a land area of 0.61 sq. miles and a water area of 0 sq. miles. Warren County is in the Eastern time zone (GMT -5). The elevation is 459 feet.

The Hope Census Designated Place (GNIS ID: 2584002) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

The Hope Census Designated Place is located within Township of Hope, a minor civil division (MCD) of Warren County.


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Hope, NJ Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 190 (100%)
Population in Households 190 (100.0%)
Population in Families 164 (86.3%)
Population in Group Quarters1 0
Population Density 309
Diversity Index2 21
 
 

INCOME

Median Household Income $99,088
Average Household Income $127,258
% of Income for Mortgage4 15%
Per Capita Income $49,174
Wealth Index5 182
 

HOUSING

Total HU (Housing Units) 102 (100%)
Owner Occupied HU 71 (69.6%)
Renter Occupied HU 12 (11.8%)
Vacant Housing Units 19 (18.6%)
Median Home Value $347,826
Average Home Value $400,000
Housing Affordability Index3 179
 

HOUSEHOLDS

Total Households 83
Average Household Size 2.29
Family Households 62
Average Family Size 3
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.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population -0.25% -0.42%
Households -0.12% -0.24%
Families 1.36% -0.32%
Median Household Income   1.23%
Per Capita Income   2.52%
Owner Occupied HU   -0.28%

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Hope, NJ - Peer Comparisons by Rank and Percentile

The table below compares Hope to the other 545 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2020 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 # 526 4th
Population Density # 520 5th
Median Household Income # 204 63rd
Housing Affordability Index # 495 91st
Per Capita Income # 207 62nd
Diversity Index # 458 16th

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

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