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Good Hope, AL Profile: Facts & Data

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Good Hope, Alabama - Basic Facts

The City of Good Hope had a population of 2,509 as of July 1, 2020.

The primary coordinate point for Good Hope is located at latitude 34.1159 and longitude -86.8636 in Cullman County. The formal boundaries for the City of Good Hope encompass a land area of 7.93 sq. miles and a water area of 0.05 sq. miles. Cullman County is in the Central time zone (GMT -6). The elevation is 702 feet.

The City of Good Hope (GNIS ID: 2406587) 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.

Alabama is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The City of Good Hope is located within Cullman Division of Cullman County.


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Good Hope, AL Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 2,509 (100%)
Population in Households 2,509 (100.0%)
Population in Families 2,142 (85.4%)
Population in Group Quarters1 0
Population Density 317
Diversity Index2 30
 
 

INCOME

Median Household Income $51,103
Average Household Income $65,670
% of Income for Mortgage4 10%
Per Capita Income $25,166
Wealth Index5 56
 

HOUSING

Total HU (Housing Units) 1,037 (100%)
Owner Occupied HU 733 (70.7%)
Renter Occupied HU 200 (19.3%)
Vacant Housing Units 104 (10.0%)
Median Home Value $122,984
Average Home Value $171,287
Housing Affordability Index3 273
 

HOUSEHOLDS

Total Households 933
Average Household Size 2.69
Family Households 674
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 1.01% 0.85%
Households 0.95% 0.8%
Families 0.65% 0.67%
Median Household Income   1.2%
Per Capita Income   1.98%
Owner Occupied HU   0.88%

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Good Hope, AL - Peer Comparisons by Rank and Percentile

The table below compares Good Hope to the other 586 incorporated cities, towns and CDPs in Alabama 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 # 184 69th
Population Density # 228 61st
Median Household Income # 176 70th
Housing Affordability Index # 429 73rd
Per Capita Income # 207 65th
Diversity Index # 366 38th

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

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