Commercial Real Estate Market in Hopewell, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
39 active listings and 732 off-market properties in Hopewell, VA.
Market Trends
Hopewell, VA spans 45.2 square miles in Hopewell County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hopewell, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Hopewell, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Hopewell, VA runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Hopewell, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 59.3%
- Industrial 29.2%
- Commercial 9.3%
- Civic 1.3%
- Mixed use 0.9%
Largest Zones share of zoned land by district
Residential Medium Density
Intensive Industrial District
Residential Low Density
Residential High Density
Residential Low Density
Hopewell, VA zones 6,738 acres across 14 districts. Commercial zoning covers 9.3% of zoned land, residential 59.3% and industrial 29.2%. The largest single district is Residential Medium Density at 26.8%. For commercial buyers the practical constraint is that only 38.5% of land carries a commercial or industrial designation.
Intensive Industrial District (M-2)
Development District B-4 Amended October 14, 2025; Effective November 14, 2025 Article XII Limited Industrial District M-1 Amended October 14, 2025; Effective November 14, 2025 Article XIII Intensive Industrial District M-2 Amended October 14, 2025; Effective November 14, 2025 Article XIV-B Tourist Historic District TH-1 Effective June 1, 2024 Article XV Flo…
Market overview
Demographics & Economy
Hopewell, VA has 32,139 residents in 12,254 households. Density runs 711 people per square mile. Median household income here is $55,104 and median gross rent $1,103 a month.
32,139
Population
12,254
Households
2.6
Avg Household Size
39
Median Age
14%
College-Educated
87%
High-School Grad
45.2 sq mi
ZIP Area
711
Density / Sq Mi
$55,104
Median Household Income
$36,663
Median Earnings
$1,103
Median Rent
$187,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Prince George | — | — |
| Petersburg | — | $6.29 |
| Colonial Heights | — | — |
| Chester | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Hopewell?
Hopewell, VA zones 6,738 acres across 14 districts, of which 9.3% is commercial and 29.2% industrial. The largest single district is Residential Medium Density at 26.8% of zoned land. Residential zoning covers 59.3% and open space 0%.
Where does Realmo's Hopewell market data come from?
Realmo compiles Hopewell, VA figures from 4 recent recorded sales, 33 active sale listings, 6 active lease listings, 732 tracked off-market properties, the current Hopewell zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 33 active for-sale and 6 active for-lease listings in Hopewell, VA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 6,738 zoned acres across 14 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
