New Hope is an unincorporated community in the southeast corner or of Franklin Township, Owen County, Indiana, United States. It lies near the intersection of County Road 740 South (aka Freedom-New Hope Road) and County Road 285 West (aka Pottersville-New Hope Road), which is a community about nine miles southwest of the city of Spencer, the county seat. Its elevation is 522 feet (159 m), and it is located at 39°10′59″N 86°49′40″W (39.1831004 -86.8277840).