Mount Hope, WV Profile: Facts & Data

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Mount Hope, West Virginia - Basic Facts

The City of Mount Hope had a population of 1,352 as of July 1, 2020. Mount Hope ranks in the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in West Virginia. See peer rankings below.

The primary coordinate point for Mount Hope is located at latitude 37.8954 and longitude -81.1643 in Fayette County. The formal boundaries for the City of Mount Hope encompass a land area of 1.32 sq. miles and a water area of 0 sq. miles. Fayette County is in the Eastern time zone (GMT -5). The elevation is 1,722 feet.

The City of Mount Hope (GNIS ID: 2390621) 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 City of Mount Hope is located within Plateau District, a minor civil division (MCD) of Fayette County.


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Mount Hope, WV Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 1,352 (100%)
Population in Households 1,352 (100.0%)
Population in Families 1,031 (76.3%)
Population in Group Quarters1 0
Population Density 868
Diversity Index2 39
 
 

INCOME

Median Household Income $29,161
Average Household Income $44,462
% of Income for Mortgage4 11%
Per Capita Income $19,532
Wealth Index5 36
 

HOUSING

Total HU (Housing Units) 775 (100%)
Owner Occupied HU 389 (50.2%)
Renter Occupied HU 213 (27.5%)
Vacant Housing Units 173 (22.3%)
Median Home Value $75,781
Average Home Value $91,774
Housing Affordability Index3 239
 

HOUSEHOLDS

Total Households 602
Average Household Size 2.25
Family Households 359
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 -0.94% -1.0%
Households -0.88% -0.95%
Families -0.58% -1.08%
Median Household Income   1.68%
Per Capita Income   1.85%
Owner Occupied HU   -1.37%

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Mount Hope, WV - Peer Comparisons by Rank and Percentile

The table below compares Mount Hope to the other 404 incorporated cities, towns and CDPs in West Virginia 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 # 117 71st
Population Density # 178 56th
Median Household Income # 358 12th
Housing Affordability Index # 183 45th
Per Capita Income # 294 27th
Diversity Index # 17 96th

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

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