Good Hope, AL Profile: Facts & Data

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.

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

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.

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.

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%

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

Good Hope, AL Profile: Facts & Data

Good Hope, Alabama - Basic Facts

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

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Good Hope, AL - Peer Comparisons by Rank and Percentile

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