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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 14,030, 7,022 total housing units (homes and apartments), and a median house value of $169,102, 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 88.04% of the town's housing units. Other types of housing that are prevalent in Hot Springs Village include row houses and other attached homes ( 6.03%), duplexes, homes converted to apartments or other small apartment buildings ( 2.60%), and a few large apartment complexes or high rise apartments ( 2.29%).
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 86.48% of Hot Springs Village's homes, and 74.60% 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 ( 22.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.00%).
Vacant housing appears to be an issue in Hot Springs Village. Fully 20.26% 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'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 0.61%, which is lower than 80% of US communities.
Appreciation rates are so strong in Hot Springs Village that despite a nationwide downturn in the housing market, Hot Springs Village real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hot Springs Village appreciation rates continue to be some of the highest in America, at 5.55%, which is higher than appreciation rates in 78.04% 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 Village. Hot Springs Village appreciation rates in the latest quarter were at 3.82%, which equates to an annual appreciation rate of 16.19%.
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 70% of the other cities and towns in Arkansas.
|$845,001 - $1,126,000||0.5|
|$564,001 - $845,000||3.4|
|$450,001 - $564,000||5.0|
|$338,001 - $450,000||12.4|
|$225,001 - $338,000||20.4|
|$113,001 - $225,000||40.7|
|$56,001 - $113,000||10.5|
|$0 - $56,000||6.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF Hot Springs Village HOMES|
|2000 or Newer||22.2|
|1970 - 1999||74.8|
|1940 - 1969||3.0|
|1939 or Older||0.0|
|TYPE OF Hot Springs Village HOMES|
|Small Apt. Buildings||2.6|
|SIZE OF Hot Springs Village HOMES|
|5 or more bedrooms||1.37|