Hope Mills, NC

Very Low · 71

North Carolina · Population 17,823 · Updated March 2026

$1,097
Median Rent / Month
$60,671
Median Income
$176,300
Median Home Value
$1,165
Owner Costs / Month

Affordability

How far your income goes in Hope Mills

21.7%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in North Carolina

State-level tax rates that affect your costs

4.5%
Income Tax (Top Rate)
4.75%
Sales Tax
0.8%
Property Tax Rate

Estimated Annual Costs

$13,164
Annual Rent
$2,730
State Income Tax
$1,410
Property Tax (est.)

Cost of Living Overview

Hope Mills is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 71 (where 100 equals the national median), Hope Mills residents can expect to pay median rent of $1,097/month while earning a median household income of $60,671/year.

The median home value in Hope Mills, NC is $176,300, with typical monthly owner costs around $1,165 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

North Carolina has a moderate income tax rate of 4.5%. Combined with a 4.75% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Hope Mills.

Frequently Asked Questions

Common questions about living costs in Hope Mills

What is the cost of living in Hope Mills, NC?
The cost of living index in Hope Mills, NC is 71 (US average = 100). Median monthly rent is $1,097, median household income is $60,671/year, and the median home value is $176,300.
Is Hope Mills, NC affordable?
Yes, Hope Mills is more affordable than the national average with a cost index of 71. The rent-to-income ratio is 21.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Hope Mills, NC?
The median gross rent in Hope Mills, NC is $1,097 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,164.
What is the median household income in Hope Mills?
The median household income in Hope Mills, NC is $60,671 per year. This compares to the national median of approximately $80,000.
What are the taxes like in North Carolina?
North Carolina has a top income tax rate of 4.5%, a sales tax of 4.75%, and an effective property tax rate of 0.8%.