New Hope, KY Profile: Facts & Data

The New Hope CDP⁽¹⁾ had a population of 144 as of July 1, 2024. New Hope ranks in the lower quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Kentucky. See peer rankings below.

The primary coordinate point for New Hope is located at latitude 37.632 and longitude -85.5083 in Nelson County. The formal boundaries for the New Hope Census Designated Place encompass a land area of 0.62 sq. miles and a water area of 0 sq. miles. Nelson County is in the Eastern time zone (GMT -5).

The New Hope Census Designated Place 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.

Kentucky is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The New Hope Census Designated Place is located within New Haven Division of Nelson County.

A Census Designated Place (CDP) is a statistical counterpart to a self-governing (incorporated) place such as a city, town, or village. A CDP is not a legal entity and has no governmental functions.

New Hope, KY Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	144 (100%)
Population in Households	144 (100.0%)
Population in Families	127 (88.2%)
Population in Group Quarters¹	0
Population Density	233
Diversity Index²	21


INCOME
Median Household Income	$63,589
Average Household Income	$93,002
% of Income for Mortgage⁴	19%
Per Capita Income	$37,459
Wealth Index⁵	84
Socioeconomic Status Index⁶	Moderate (48.7)

HOUSING
Total HU (Housing Units)	68 (100%)
Owner Occupied HU	53 (77.9%)
Renter Occupied HU	5 ( 7.4%)
Vacant Housing Units	10 (14.7%)
Median Home Value	$192,500
Average Home Value	$270,755
Housing Affordability Index³	131

HOUSEHOLDS
Total Households	58
Average Household Size	2.48
Family Households	43
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.

New Hope, KY - Peer Comparisons by Rank and Percentile

The table below compares New Hope to the other 555 incorporated cities, towns and CDPs in Kentucky 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	0.83%	1.22%
Households	0.00%	0.68%
Families		-1.44%
Median Household Income		4.12%
Per Capita Income		2.96%
Owner Occupied HU		1.11%

Variable Description	Rank	Percentile
Total Population	# 516	7th
Population Density	# 492	12th
Median Household Income	# 227	59th
Housing Affordability Index	# 303	55th
Per Capita Income	# 168	70th
Diversity Index	# 278	50th

New Hope, KY Profile: Facts & Data

New Hope, Kentucky - Basic Facts

New Hope, KY Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

New Hope, KY - Peer Comparisons by Rank and Percentile

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