Hopewell city, Virginia: commercial real estate data.
Hopewell city, Virginia had an estimated 22,970 residents on July 1, 2024, down 0.3 percent since the 2020 census base of 23,032, across 10 square miles. 396 establishments operate here, and the SBA record carries 8 7(a) approvals worth $1.6 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Hopewell city
How many people live in Hopewell city
- Population, American Community Survey 2020-202422,959
- 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-equivalents, Puerto Rico included1734th of 3,222
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 moderately unaffordable 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, July 1, 202422,970
- Census 2020 base population23,032
- Population change since the 2020 census base-0.27 percent
- Population change, 2023 to 202487
- 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 of 3,144
The county has lost 0.27 percent of its population since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration 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
- Tax returns filed by households leaving968
- Net household movement30
- Adjusted gross income arriving$35.0 m
- Net adjusted gross income movement$-3.2 m
- Average income of an arriving household$35,099
- Average income of a leaving household$39,543
- Largest single originChesterfield County (214 households)
- Largest single destinationChesterfield County (182 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Chesterfield County | 214 | 428 | $7.8 m |
| Petersburg city | 132 | 229 | $3.8 m |
| Prince George County | 120 | 212 | $4.2 m |
| Richmond city | 86 | 152 | $3.1 m |
| Henrico County | 64 | 137 | $2.3 m |
| Colonial Heights city | 37 | 63 | $1.2 m |
| Dinwiddie County | 28 | 54 | $1.0 m |
Households arriving report $4,444 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Chesterfield County, 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
Employment by industry in Hopewell city
- Covered employment, annual average7,284
- Establishments reporting546
- Average annual pay$66,996
- Average weekly wage$1,288
- Manufacturing, employment1,893
- Manufacturing, average annual pay$112,942
- Accommodation and food services, employment688
- Accommodation and food services, average annual pay$22,242
- Retail trade, employment564
- Retail trade, average annual pay$32,601
- Administrative and support and waste management services, employment253
- Administrative and support and waste management services, average annual pay$46,296
- Other services, except public administration, employment152
- Wholesale trade, employment125
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 1,893 | 14 | $112,942 |
| Accommodation and food services | 688 | 44 | $22,242 |
| Retail trade | 564 | 62 | $32,601 |
| Administrative and support and waste management services | 253 | 22 | $46,296 |
| Other services, except public administration | 152 | 44 | $33,861 |
| Wholesale trade | 125 | 10 | $72,269 |
| Finance and insurance | 89 | 20 | $55,342 |
| Real estate and rental and leasing | 66 | 19 | $55,320 |
Manufacturing is the largest private sector at 1,893 jobs, 26.0 percent of covered employment.
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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Hopewell city
Building permits in Hopewell city
- Housing units authorized by permit, 202442
- Declared construction value permitted$10.1 m
- Single family units authorized42
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$241,001
- Units authorized per 1,000 households4.5
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
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$171,000
- 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
- 504 approvals recorded2
- 504 gross approval dollars$3.1 m
- Average 504 approval$1,533,000
- Median 504 approval$1,533,000
- Distinct CDCs active2
- 504 jobs per approval14.0
- 504 jobs per million dollars approved9.1
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$4.7 m
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
Only 0 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
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.
Hopewell city
Flood risk in Hopewell city
- Participation of the county's own NFIP community Hopewell, city ofParticipating, community 510080
- Communities in the county in the NFIP Community Status Book1
- Of those, participating in the NFIP1
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Hopewell city, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, the City of Hopewell (community 510080), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Hopewell city in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-202422,959
- 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?
The Census Bureau estimates 22,970 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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 of 23,032, to 22,970 on July 1, 2024. 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 employment by industry in Hopewell city?
Manufacturing is the largest private sector at 1,893 jobs, 26.0 percent of covered employment. Covered employment averages 7,284 jobs at an average annual pay of $66,996, or $1,288 a week. 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 totaling $1.6 m since FY2020, across 7 lenders, with a median approval of $171,000, plus 2 504 approvals worth $3.1 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Hopewell city?
42 housing units were authorized 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 Chesterfield County, with 214 households. Arriving households report an average income of $35,099 against $39,543 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
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