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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



New Hope, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

New Hope, PA Housing Market Trends

With a population of 2,632, 1,356 total housing units (homes and apartments), and a median house value of $661,797, New Hope house prices are not only among the most expensive in Pennsylvania, New Hope real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in New Hope, accounting for 41.20% of the borough's housing units. Other types of housing that are prevalent in New Hope include row houses and other attached homes ( 31.83%), large apartment complexes or high rise apartments ( 15.44%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.53%).

People in New Hope primarily live in small (one, two or no bedroom) single-family detached homes. New Hope has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in New Hope built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in New Hope built before 1939 ( 19.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.28%). There's also some housing in New Hope built between 1940-1969 ( 8.97%).

New Hope Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in New Hope, where house values have increased just 44.61%, which is annualized rate of 3.76%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, New Hope's appreciation rate, at 6.29%, has been at or slightly above the national average. In the latest quarter, New Hope's appreciation rate has been 0.82%, which annualizes to a rate of 3.32%.

Relative to Pennsylvania, our data show that New Hope's latest annual appreciation rate is higher than 60% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$661,797

New Hope Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,819 / per month

Homeownership Rate

Owners
Renters
62.5%
62.5%
37.5%
37.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.6%
8.6%
91.4%
91.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.3%
13.3%
58.5%
58.5%
9.0%
9.0%
19.3%
19.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
41.2%
41.2%
31.8%
31.8%
11.5%
11.5%
15.4%
15.4%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.4%
3.4%
28.1%
28.1%
28.0%
28.0%
15.2%
15.2%
18.1%
18.1%
7.2%
7.2%
0% 100.0%
% of Homes