Hot Springs Village, AR Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hot Springs Village, AR Housing Market Trends

With 14,030 people, 7,279 houses or apartments, and a median cost of homes of $173,203, 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 86.88% of the town's housing units. Other types of housing that are prevalent in Hot Springs Village include row houses and other attached homes ( 6.89%), duplexes, homes converted to apartments or other small apartment buildings ( 2.70%), and a few large apartment complexes or high rise apartments ( 2.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hot Springs Village. Owner-occupied housing accounts for 85.38% of Hot Springs Village's homes, and 71.68% 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 to 1999 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 between 2000 and later ( 27.55%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.72%).

Vacant housing appears to be an issue in Hot Springs Village. Fully 18.16% 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

Hot Springs Village's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hot Springs Village during the period has been just 2.01%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Hot Springs Village's appreciation rate, at 6.22%, has been at or slightly above the national average. In the latest quarter, Hot Springs Village's appreciation rate has been 3.22%, which annualizes to a rate of 13.50%.

Importantly, this makes Hot Springs Village one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Arkansas, our data show that Hot Springs Village's latest annual appreciation rate is higher than 90% of the other cities and towns in Arkansas.

Average Home Values

 
info

Median Home Value:
$173,203

Hot Springs Village, AR HOME PRICES

> $1,166,000
0.9%
0.9%
$874,001 - $1,166,000
0.1%
0.1%
$583,001 - $874,000
4.0%
4.0%
$466,001 - $583,000
5.2%
5.2%
$350,001 - $466,000
11.4%
11.4%
$233,001 - $350,000
21.7%
21.7%
$117,001 - $233,000
41.7%
41.7%
$58,001 - $117,000
9.0%
9.0%
$0 - $58,000
6.1%
6.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for AR

Value Relative To Nation

Number Of Homes And Apartments:
7,279

Hot Springs Village Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
42.00% 1.68%
3
2
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,388 / per month

Homeownership Rate

Owners
85.4%
85.4%
Renters
14.6%
14.6%
Vacant
18.2%
18.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
27.5%
27.5%
1970 - 1999
69.7%
69.7%
1940 - 1969
2.7%
2.7%
1939 or Older
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
86.9%
86.9%
Townhomes
6.9%
6.9%
Small Apt. Buildings
2.7%
2.7%
Apt. Complexes
2.2%
2.2%
Mobile Homes
1.3%
1.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.2%
0.2%
1 Bedroom
0.9%
0.9%
2 Bedrooms
25.0%
25.0%
3 Bedrooms
64.4%
64.4%
4 Bedrooms
7.3%
7.3%
5 or more bedrooms
2.2%
2.2%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Hot Springs Village

Popular Communities Near Hot Springs Village, AR

Zip Codes in Hot Springs Village, AR