Hot Springs, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hot Springs, AR Real Estate Data

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 Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hot Springs Housing Market Information

With a population of 35,635, 15,642 total housing units (homes and apartments), and a median house value of $121,946, 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.

Hot Springs Home Appreciation Rates

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 0.06% 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 10.22%, which is higher than appreciation rates in 93.40% 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 2.82%, which equates to an annual appreciation rate of 11.75%.

Relative to Arkansas, our data show that Hot Springs's latest annual appreciation rate is higher than 90% 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.

Average Home Values

 

Median Home Value:
$121,946

Hot Springs, AR HOME PRICES

Value Range
> $1,083,000 0.1
$812,001 - $1,083,000 0.9
$541,001 - $812,000 2.3
$433,001 - $541,000 1.7
$325,001 - $433,000 3.6
$217,001 - $325,000 11.5
$108,001 - $217,000 32.8
$54,001 - $108,000 29.8
$0 - $54,000 17.4

High for AR
Low for Nation

Value Relative to Nation Value Relative to State
65.5307687803736 26.4084507042254

Number Of Homes And Apartments:
15,642

Hot Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
42.87% 2.06% 7 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$877 / per month

Homeownership Rate

Homeownership
Owners 51.15
Renters 48.85
Vacant 19.98

Housing Market Details

 

Age of Homes

AGE OF Hot Springs HOMES
2000 or Newer 13.3
1970 - 1999 36.3
1940 - 1969 34.5
1939 or Older 16.0

Types of Homes

TYPE OF Hot Springs HOMES
Single-Family 62.6
Townhomes 2.5
Small Apt. Buildings 10.4
Apt. Complexes 19.4
Mobile Homes 5.0
Other 0.1

Home Size

SIZE OF Hot Springs HOMES
No Bedroom 4.48
1 Bedroom 14.36
2 Bedrooms 35.66
3 Bedrooms 35.55
4 Bedrooms 8.16
5 or more bedrooms 1.79