Hopedale, IL Profile: Facts & Data

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Hopedale, Illinois - Basic Facts

The Village of Hopedale had a population of 908 as of July 1, 2020. 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 elevation is 643 feet.

The Village of Hopedale (GNIS ID: 2398541) 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.

The Village of Hopedale is located within Township of Hopedale, a minor civil division (MCD) of Tazewell County.


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Hopedale, IL Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 908 (100%)
Population in Households 886 (97.6%)
Population in Families 776 (85.5%)
Population in Group Quarters1 22 ( 2.4%)
Population Density 1,029
Diversity Index2 5
 
 

INCOME

Median Household Income $63,836
Average Household Income $78,107
% of Income for Mortgage4 11%
Per Capita Income $29,949
Wealth Index5 84
 

HOUSING

Total HU (Housing Units) 450 (100%)
Owner Occupied HU 290 (64.4%)
Renter Occupied HU 87 (19.3%)
Vacant Housing Units 73 (16.2%)
Median Home Value $172,436
Average Home Value $204,741
Housing Affordability Index3 200
 

HOUSEHOLDS

Total Households 377
Average Household Size 2.35
Family Households 282
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 0.46% -0.13%
Households 0.7% 0.0%
Families 2.01% -0.07%
Median Household Income   1.38%
Per Capita Income   1.89%
Owner Occupied HU   0.07%

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Hopedale, IL - Peer Comparisons by Rank and Percentile

The table below compares Hopedale to the other 1,369 incorporated cities, towns and CDPs in Illinois 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 # 730 47th
Population Density # 708 48th
Median Household Income # 491 64th
Housing Affordability Index # 460 34th
Per Capita Income # 626 54th
Diversity Index # 1256 8th

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

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