Quick facts: Hope mills, NC

Quick Facts

100.6
Cost of Living
above US average
17,824
Population
41.74
Crime Rate per 1000
above US average
$57,864
Median Income
below US average
$290,000
Median House Price
above US average
$1728.03
Average Rent
above US average
10%
Poverty Rate
below US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,864.

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Income Needed to Buy

βœ— Stretch
$91k/year
Based on $290,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $91k vs median $57,864
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Income Needed to Rent

⚠ Stretch
$74k/year
Based on $1728.03/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $74k vs median $57,864
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hope mills, NC

Hope Mills is a charming town located in Cumberland County, North Carolina, just southwest of Fayetteville. It boasts a population of around 15,000 residents and is part of the larger Fayetteville metropolitan area. The town is known for its picturesque landscapes, including the tranquil Hope Mills Lake, which serves as a recreational hub for fishing, kayaking, and picnicking. Established in the 1800s, Hope Mills has a rich history closely tied to the region's mill industry. Today, it retains a small-town feel while offering modern amenities and services. The community is friendly and vibrant, with local events and festivals throughout the year that celebrate its heritage and foster community spirit. Outdoor enthusiasts will appreciate the local parks and recreational facilities, including the Hope Mills Parks and Recreation Department, which offers sports leagues, playgrounds, and walking trails. The town also has a range of dining options, shopping venues, and schools, making it an appealing place for families and newcomers. Overall, Hope Mills is a welcoming community with a mix of history, recreation, and small-town charm, situated conveniently near larger urban centers.

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