Hot Springs appreciation rates and housing market information

Hot Springs housing market information

With 35,613 people, 18,727 houses or apartments, and a median cost of homes of $132,872, house prices in Hot Springs are solidly below the national average.

single-family detached homes are the single most common housing type in Hot Springs, accounting for 63.16% of the city's housing units. Other types of housing that are prevalent in Hot Springs include large apartment complexes or high rise apartments (17.64%), duplexes, homes converted to apartments, or other small apartment buildings (10.32%), mobile homes or trailers (5.63%), and a few row houses and other attached homes (3.08%).

People in Hot Springs primarily live in small (one, two, or no bedroom) single-family detached homes. Hot Springs has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Hot Springs's housing was primarily built during this period, from the '40s through the '60s. A full 46.77% of the city's housing hails from this era. Other housing ages represented in Hot Springs include homes built between 1970-1994 (34.35%), and housing constructed from 1939 and earlier (13.02%). There's also some housing in Hot Springs built between 1995 and later (5.86%).

Vacant housing appears to be an issue in Hot Springs. Fully 14.23% of the housing stock is classified as vacant. Left unchecked, vacant Hot Springs homes and apartments can be a drag on the real estate market, holding Hot Springs 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 home appreciation rates

Appreciation rates for homes in Hot Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.24%, which ranks in the top 40% nationwide. This equates to an annual average Hot Springs house appreciation rate of 8.32%.

Appreciation rates are so strong in Hot Springs that despite a nationwide downturn in the housing market, Hot Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hot Springs appreciation rates continue to be some of the highest in America, at 3.40%, which is higher than appreciation rates in 79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hot Springs. Hot Springs appreciation rates in the latest quarter were at -0.07%, which equates to an annual appreciation rate of -0.28%.

Relative to Arkansas, our data show that Hot Springs's latest annual appreciation rate is higher than 75% of the other cities and towns in Arkansas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hot Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hot Springs - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Hot Springs real estate investment or home purchase decisions.