Quick facts: Hope, AR

Quick Facts

92.7
Cost of Living
below US average
8,624
Population
54.04
Crime Rate per 1000
above US average
$43,018
Median Income
below US average
$102,000
Median House Price
above US average
$850.0
Average Rent
below US average
20%
Poverty Rate
above US average
4.5%
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 $43,018.

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Income Needed to Buy

βœ“ Affordable
$32k/year
Based on $102,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($43,018) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$36k/year
Based on $850.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($43,018) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hope, AR

Hope, Arkansas is a charming small city located in Hempstead County, known for its rich history and warm community atmosphere. As of the latest census, it has a population of around 10,000 residents. Hope is often referred to as the "Watermelon Capital of the World," celebrating its annual Watermelon Festival that highlights this local agricultural specialty, along with various cultural festivities. The city is home to several historical landmarks, including the historic downtown area featuring unique shops and eateries. Hope is also famously known as the birthplace of President Bill Clinton, with the Clinton Birthplace National Historic Site attracting visitors interested in his early life. Outdoor enthusiasts can enjoy nearby parks like the Hope Municipal Park and the scenic beauty of the surrounding Ouachita Mountains. The area offers opportunities for fishing, hiking, and exploring nature. With its blend of history, culture, and community spirit, Hope, AR is a delightful place that offers insights into small-town Southern life.

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