Hopedale, IL Profile: Facts & Data

The Village of Hopedale had a population of 799 as of July 1, 2024. Hopedale ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Illinois. See peer rankings below.

The primary coordinate point for Hopedale is located at latitude 40.4209 and longitude -89.4145 in Tazewell County. The formal boundaries for the Village of Hopedale encompass a land area of 0.5 sq. miles and a water area of 0 sq. miles. Tazewell County is in the Central time zone (GMT -6).

The Village of Hopedale has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Hopedale, IL Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	799 (100%)
Population in Households	684 (85.6%)
Population in Families	582 (72.8%)
Population in Group Quarters¹	115 (14.4%)
Population Density	899
Diversity Index²	13


INCOME
Median Household Income	$78,010
Average Household Income	$111,088
% of Income for Mortgage⁴	19%
Per Capita Income	$41,459
Wealth Index⁵	121
Socioeconomic Status Index⁶	Moderate (61.7)

HOUSING
Total HU (Housing Units)	332 (100%)
Owner Occupied HU	251 (75.6%)
Renter Occupied HU	46 (13.9%)
Vacant Housing Units	35 (10.5%)
Median Home Value	$230,288
Average Home Value	$229,283
Housing Affordability Index³	114

HOUSEHOLDS
Total Households	297
Average Household Size	2.30
Family Households	206
Average Family Size	3.00

NOTES

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.
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.
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.
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).
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.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Hopedale, IL - Peer Comparisons by Rank and Percentile

The table below compares Hopedale to the other 1,462 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2024 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.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.89%	-0.76%
Households	-0.31%	-0.41%
Families		0.48%
Median Household Income		5.64%
Per Capita Income		3.53%
Owner Occupied HU		-0.48%

Variable Description	Rank	Percentile
Total Population	# 751	49th
Population Density	# 752	49th
Median Household Income	# 608	58th
Housing Affordability Index	# 502	34th
Per Capita Income	# 557	62nd
Diversity Index	# 1181	19th

Hopedale, IL Profile: Facts & Data

Hopedale, Illinois - Basic Facts

Hopedale, IL Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Hopedale, IL - Peer Comparisons by Rank and Percentile

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Tazewell County