Hot Springs, Arkansas Housing Market Prices
Hot Springs Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 30% below the Arkansas median$78,377
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Median rent 4% below the Arkansas median$911
Housing Market Overview
| Metric | Hot Springs | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,377 | $111,957 | $248,835 |
| Price Trend (Annual %) | 3.5% | 3.4% | 7.5% |
| Median Gross Rent | $911 | $947 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hot Springs is about 30% lower than in Arkansas. Rent is about 4% lower than the Arkansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hot Springs, up about 3.5% and 3.6% a year respectively. Rent is changing faster.
Median rent in Hot Springs rose about 31.5% between 2015 and 2024, from $693 to $911. Over the same span, rent in Arkansas rose about 40.1%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Hot Springs.
Buying the median-priced home in Hot Springs costs roughly 7.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hot Springs. The price-to-rent ratio in Arkansas is about 9.9.
| Metric | Hot Springs | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,377 | $111,957 | $248,835 |
| Median Household Income | $46,956 | $60,940 | $80,455 |
| Price-to-Income Ratio | 1.7 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hot Springs fell about 0.6%, while median household income rose about 46.4% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hot Springs | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.7% | 57.4% | 58.5% |
| Rental Rate | 35.0% | 29.0% | 31.2% |
| Vacancy Rate | 17.3% | 13.5% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Hot Springs has a homeownership rate of 47.7%, lower than the Arkansas average of 57.4%. Its housing vacancy rate is 17.3%, compared with 13.5% in Arkansas.
Housing Stock
| Metric | Hot Springs | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.03 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1973 | 1987 | 1978 |
| Median Number of Rooms | 5.1 | 5.5 | 5.5 |
The typical housing unit in Hot Springs was built around 1973. On average, 2.0 people live in a home with about 5.1 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hot Springs, Arkansas.
What is the median home price in Hot Springs, Arkansas?
The median home price in Hot Springs, Arkansas is $78,377, lower than the Arkansas average of $111,957.
What is the average home price in Hot Springs, Arkansas?
The typical home price in Hot Springs, Arkansas, reported as the median sale price, is $78,377. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Hot Springs, Arkansas?
The median gross rent in Hot Springs, Arkansas is $911 per month, lower than the Arkansas average of $947.
What was the median gross rent in Hot Springs in 2020?
In 2020, the median gross rent in Hot Springs, Arkansas was $740 per month.
What is the price-to-rent ratio in Hot Springs, Arkansas?
The price-to-rent ratio in Hot Springs, Arkansas is about 7.2, meaning it would take roughly 7.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Hot Springs.
Are home prices or rent rising faster in Hot Springs, Arkansas?
Both home prices and rent are rising in Hot Springs, up about 3.5% and 3.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Hot Springs, Arkansas?
47.7% of households in Hot Springs, Arkansas own their home, lower than the Arkansas average of 57.4%.
What is the vacancy rate in Hot Springs, Arkansas?
The housing vacancy rate in Hot Springs, Arkansas is 17.3%, higher than the Arkansas average of 13.5%.
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