Land Market Insights and Pricing in Hopewell City County, Virginia

Hopewell City, Virginia, offers a unique blend of urban and natural landscapes within its compact 10.8 square miles. Situated at the confluence of the Appomattox and James rivers, this Coastal Plain city boasts scenic waterfront views and development potential. The terrain is predominantly flat with gentle slopes, featuring a mix of less developed areas and forested land. Hopewell's strategic location, accessible via Interstate 295, combines industrial heritage with ongoing waterfront redevelopment initiatives, including the new Riverwalk boardwalk. While the city faces economic challenges, with an unemployment rate of 9.3% and a poverty rate of 19.6%, it offers affordable housing options with a median home price of $165,100. The local economy is anchored by educational services, healthcare, and social assistance sectors, accounting for 23.5% of employment. Land buyers should note the city's property tax rate of 0.97%, slightly above the national average, and FEMA's assessment of very low economic risk from natural disasters.