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New Hope, MS Profile: Facts & Data

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New Hope, Mississippi - Basic Facts

The New Hope Census Designated Place had a population of 3,305 as of July 1, 2020.

The primary coordinate point for New Hope is located at latitude 33.4682 and longitude -88.3267 in Lowndes County. The formal boundaries for the New Hope Census Designated Place encompass a land area of 5.04 sq. miles and a water area of 0.01 sq. miles. Lowndes County is in the Central time zone (GMT -6). The elevation is 220 feet.

The New Hope Census Designated Place (GNIS ID: 2403331) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

The New Hope Census Designated Place is located within Supervisor District 3, a minor civil division (MCD) of Lowndes County.


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New Hope, MS Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 3,305 (100%)
Population in Households 3,294 (99.7%)
Population in Families 2,945 (89.1%)
Population in Group Quarters1 11 ( 0.3%)
Population Density 657
Diversity Index2 41
 
 

INCOME

Median Household Income $57,253
Average Household Income $71,516
% of Income for Mortgage4 11%
Per Capita Income $26,424
Wealth Index5 73
 

HOUSING

Total HU (Housing Units) 1,272 (100%)
Owner Occupied HU 1,017 (80.0%)
Renter Occupied HU 189 (14.9%)
Vacant Housing Units 66 ( 5.2%)
Median Home Value $154,398
Average Home Value $162,242
Housing Affordability Index3 239
 

HOUSEHOLDS

Total Households 1,206
Average Household Size 2.73
Family Households 933
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

 2010-2020 2020-2025
Population 0.34% 0.29%
Households 0.34% 0.3%
Families 0.05% 0.17%
Median Household Income   1.48%
Per Capita Income   2.29%
Owner Occupied HU   0.22%

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New Hope, MS - Peer Comparisons by Rank and Percentile

The table below compares New Hope to the other 362 incorporated cities, towns and CDPs in Mississippi by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 91 75th
Population Density # 118 68th
Median Household Income # 40 89th
Housing Affordability Index # 201 56th
Per Capita Income # 57 85th
Diversity Index # 228 37th

Additional comparisons and rankings can be made with a VERY EASY TO USE Mississippi Census Data Comparison Tool.

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