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 35,635 people, 15,642 houses or apartments, and a median cost of homes of $119,512, 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 62.64% of the city's housing units. Other types of housing that are prevalent in Hot Springs include large apartment complexes or high rise apartments ( 19.38%), duplexes, homes converted to apartments or other small apartment buildings ( 10.36%), and a few mobile homes or trailers ( 5.01%).
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.
There is a lot of housing in Hot Springs 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 built between 1940-1969 ( 34.46%). A lesser amount of the housing stock also hails from before 1939 ( 15.97%). There's also some housing in Hot Springs built between 2000 and later ( 13.32%).
Vacant housing appears to be an issue in Hot Springs. Fully 19.98% 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.
Real estate appreciation rates in Hot Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.22% during the period.
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 6.85%, which is higher than appreciation rates in 80.39% 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 3.54%, which equates to an annual appreciation rate of 14.91%.
Importantly, NeighborhoodScout’s exclusive research found that Hot Springs's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Arkansas, our data show that Hot Springs's latest annual appreciation rate is higher than 80% 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 2000, to assist you in making the best Hot Springs real estate investment or home purchase decisions.
|$796,001 - $1,061,000||0.9|
|$531,001 - $796,000||2.3|
|$424,001 - $531,000||1.7|
|$318,001 - $424,000||3.6|
|$212,001 - $318,000||11.5|
|$106,001 - $212,000||32.8|
|$53,001 - $106,000||29.8|
|$0 - $53,000||17.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Hot Springs HOMES|
|2000 or Newer||13.3|
|1970 - 1999||36.3|
|1940 - 1969||34.5|
|1939 or Older||16.0|
|TYPE OF Hot Springs HOMES|
|Small Apt. Buildings||10.4|
|SIZE OF Hot Springs HOMES|
|5 or more bedrooms||1.79|