Hot Springs Village appreciation rates and housing market information

Hot Springs Village housing market information

With 8,472 people, 5,095 houses or apartments, and a median cost of homes of $248,096, Hot Springs Village real estate is some of the most expensive in Arkansas, although Hot Springs Village home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Hot Springs Village, accounting for 80.45% of the town's housing units. Other types of housing that are prevalent in Hot Springs Village include row houses and other attached homes (11.25%), large apartment complexes or high rise apartments (3.63%), duplexes, homes converted to apartments, or other small apartment buildings (3.06%), and a few mobile homes or trailers (1.61%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Hot Springs Village. Owner-occupied housing accounts for 74.72% of Hot Springs Village's homes, and 59.51% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hot Springs Village built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hot Springs Village built from 1995 and later (15.37%). A lesser amount of the housing stock also hails from 1940-1969 (1.96%), and some were built from 1939 and earlier (1.96%).

Vacant housing appears to be an issue in Hot Springs Village. Fully 15.49% of the housing stock is classified as vacant. Left unchecked, vacant Hot Springs Village homes and apartments can be a drag on the real estate market, holding Hot Springs Village real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hot Springs Village home appreciation rates

Real estate appreciation rates in Hot Springs Village have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.83% during the period.

NeighborhoodScout's data show that during the latest twelve months, Hot Springs Village home appreciation rates, at 1.91%, have been at or slightly above the national average. In the latest quarter, Hot Springs Village's appreciation rate has been -0.44%, which annualizes to a rate of -1.76%.

Notably, Hot Springs Village's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arkansas, our data show that Hot Springs Village's latest annual appreciation rate is higher than 49% of the other cities and towns in Arkansas.