Hopewell city, Virginia: commercial real estate data.
Hopewell city, Virginia has a population of 22,959 across 10 square miles, down 0.3 percent since the 2020 census base. 396 establishments operate here, and the SBA record carries 8 7(a) approvals worth $1.6 m.
105 sourced county values · tier FULL · 9 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Hopewell city
How many people live in Hopewell city
- Population22,959
- Households9,255
- Average household size2.48
- Median household income$54,729
- Median age37.5
- Median gross rent$1,106 per month
- Median owner-occupied home value$181,600
- Home value to household income3.3 times
- Annual rent as a share of median income24.3 percent
- Adults 25 and over with a bachelor degree or higher13.7 percent
- Adults 25 and over with a graduate degree4.2 percent
- Adults 25 and over15,057
- Population under 185,830
- Share under 1825.4 percent
- Population 65 and over3,464
- Share 65 and over15.1 percent
- Working age population, 18 to 6413,665
- Civilian labor force11,017
- Unemployment rate9.2 percent
- Labor force participation, adults 18 and over64.3 percent
- Rank by population among Virginia independent cities74th of 133
- Rank by population among US county-equivalents1734th
Hopewell city is the 74th largest of 133 Virginia independent cities by population. A median home costs 3.3 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 25.4 percent against 15.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Hopewell city
Is Hopewell city's population growing?
- Population change since the 2020 census base-0.27 percent
- Census 2020 base population23,032
- Births, 2024308
- Deaths, 2024359
- Natural change, 2024-51
- Net domestic migration, 2024100
- Net international migration, 202436
- Total net migration, 2024136
- Cumulative net domestic migration, 2021 to 2024141
- Rank by growth among US county-equivalents1952nd
The county has lost 0.27 percent of its population since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Hopewell city
Where are people moving to Hopewell city from?
- Tax returns filed by households arriving998
- People arriving, from those returns1,822
- Adjusted gross income arriving$35.0 m
- Net adjusted gross income movement$0
- Average income of an arriving household$35,099
- Largest single originHopewell city Non-migrants (7,985 households)
- Largest single destination (7,985 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Hopewell city Non-migrants | 7,985 | 14,941 | $369.4 m |
| Chesterfield County | 214 | 428 | $7.8 m |
| Other flows - Different State | 169 | 302 | $6.5 m |
| Other flows - Same State | 148 | 245 | $5.1 m |
| Petersburg city | 132 | 229 | $3.8 m |
| Prince George County | 120 | 212 | $4.2 m |
| Other flows - South | 106 | 188 | $4.5 m |
| Richmond city | 86 | 152 | $3.1 m |
The largest single source of arrivals is Hopewell city Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Hopewell city
Largest employers in Hopewell city
- Covered employment, annual average7,284
- Establishments reporting546
- Average annual pay$66,996
- Average weekly wage$1,288
- Sector 31-33, employment1,893
- Sector 31-33, average annual pay$112,942
- Sector 72, employment688
- Sector 72, average annual pay$22,242
- Sector 44-45, employment564
- Sector 44-45, average annual pay$32,601
- Sector 56, employment253
- Sector 56, average annual pay$46,296
- Sector 81, employment152
- Sector 42, employment125
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 1,893 | 14 | $112,942 |
| Sector 72 | 688 | 44 | $22,242 |
| Sector 44-45 | 564 | 62 | $32,601 |
| Sector 56 | 253 | 22 | $46,296 |
| Sector 81 | 152 | 44 | $33,861 |
| Sector 42 | 125 | 10 | $72,269 |
| Sector 52 | 89 | 20 | $55,342 |
| Sector 53 | 66 | 19 | $55,320 |
The largest sector is the biggest private employer group at 1,893 jobs, 26.0 percent of covered employment. Average pay per job exceeds median household income, which usually means single earner households and a wage base that can carry rent.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Hopewell city
How many businesses are in Hopewell city?
- Establishments, all industries396
- Employment at those establishments5,277
- Annual payroll$297.4 m
- Establishments per 1,000 residents17.2
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Hopewell city
Building permits in Hopewell city
- Housing units authorised by permit, 202442
- Declared construction value permitted$10.1 m
- Single family units authorised42
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$241,001
- Units authorised per 1,000 households4.5
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Hopewell city
SBA loans in Hopewell city (7(a) and 504)
- 7(a) approvals recorded8
- 7(a) gross approval dollars$1.6 m
- Average 7(a) approval$202,613
- Median 7(a) approval$192,000
- 10th percentile approval$63,000
- 90th percentile approval$532,000
- Largest single approval$532,000
- Jobs reported supported, 7(a)41
- Jobs per approval5.1
- Distinct 7(a) lenders active7
- Distinct industries receiving approvals7
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer12.5 percent
- Loans on real estate terms1
- Loans on working capital terms, 120 months or shorter7
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countConvenience Retailers (2)
- Most active lenderBayFirst National Bank (2)
- 504 approvals recorded2
- 504 gross approval dollars$3.1 m
- Average 504 approval$1,533,000
- Median 504 approval$1,991,000
- Distinct CDCs active2
- 504 jobs per approval14.0
- 504 jobs per million dollars approved9.1
- Most active CDCRappahannock Economic Development Corporation (1)
- 7(a) share of SBA approvals80.0 percent
- Combined SBA approval dollars$4.7 m
The average approval of $202,613 sits close to the median of $192,000, so lending here is fairly evenly sized rather than driven by a few large deals. Only 12.5 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Hopewell city
SBA loan default and charge-off rates in Hopewell city
Do SBA loans in Hopewell city get paid back?
- Loans with a final outcome recorded0
- Paid in full0
- Charged off0
- Status: Exempt from disclosure5
- Status: Cancelled3
Too few loans have reached a final outcome to publish a charge off rate. only 0 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Hopewell city
How large is Hopewell city?
- Land area10 sq mi
- Rank by land area among Virginia independent cities117th of 133
- Width, east to west2.8 mi
- Height, north to south3.6 mi
- Geographies sharing a boundary2
- Residents per square mile of land2,296
- Establishments per square mile39.60
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Hopewell city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Hopewell city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population22,959
- Households9,255
- Average household size2.48
- Median household income$54,729
- Median age37.5
Common questions
Hopewell city questions, answered from the record.
How many people live in Hopewell city, Virginia?
22,959, in 9,255 households, ranking 74th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Hopewell city's population growing?
The population has fallen 0.27 percent since the 2020 census base. In 2024 there were 308 births against 359 deaths, with net migration of 136. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Hopewell city?
$54,729. The median owner-occupied home is valued at $181,600, which is 3.3 times income, and median gross rent is $1,106 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Hopewell city?
396 establishments, employing 5,277 people with an annual payroll of $297.4 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Hopewell city?
Average annual pay is $66,996, or $1,288 a week, across 7,284 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Hopewell city?
8 7(a) approvals totalling $1.6 m since FY2020, across 7 lenders, with a median approval of $192,000, plus 2 504 approvals worth $3.1 m. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Hopewell city?
42 housing units were authorised by permit in 2024, with a declared construction value of $10.1 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Hopewell city?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Hopewell city come from?
The largest single origin is Hopewell city Non-migrants, with 7,985 households. Arriving households report an average income of $35,099 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Hopewell city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Hopewell city?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.