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Hot Springs

Learn about the people, housing, costs and businesses in Hot Springs

Median Home$199,504
Median Rent$976/month
Population100,035
Leading IndustryManufacturing1% of local workforce
Home Value Growth⬆⬆+18.6% over 2 years
Retirees25% of residentswell above average
Homeowners69% of occupied units
NotableVeteran Community10% of residents · top 12% nationally
NotableAffordable Market$200k median home · lower cost than 78% of the country
Hot Springs

Frequently Asked Questions

What are today's mortgage rates in Hot Springs?

Mortgage rates for Hot Springs are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

View current rates for Hot Springs
What is the median home price in Hot Springs?

The median home value in Hot Springs is $200k. The median monthly rent is $976. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Hot Springs?

Home values in Hot Springs have increased 18.6% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Hot Springs?

Based on a typical all-in ownership cost of $880/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $38k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Hot Springs is $61k/year.

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What industries drive the economy in Hot Springs?

The largest employment sectors in Hot Springs are public administration (23%) and healthcare (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.