Hot Springs, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hot Springs Neighborhoods Since 2000




Hot Springs, AR Real Estate Data


Hot Springs Housing Market Information

With a population of 35,635, 15,115 total housing units (homes and apartments), and a median house value of $120,225, 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 62.75% of the city's housing units. Other types of housing that are prevalent in Hot Springs include large apartment complexes or high rise apartments ( 17.58%), duplexes, homes converted to apartments or other small apartment buildings ( 11.46%), and a few mobile homes or trailers ( 6.26%).

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 ( 35.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.66%). There's also some housing in Hot Springs built before 1939 ( 13.36%).

Vacant housing appears to be an issue in Hot Springs. Fully 20.56% 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 -0.13% during the period.

Over the last year, Hot Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Hot Springs's appreciation rate has been -2.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hot Springs were at -2.29%, which equates to an annual appreciation rate of -8.86%.

Notably, Hot Springs's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arkansas, our data show that Hot Springs's latest annual appreciation rate is lower 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:
$120,225

Hot Springs, AR HOME PRICES

Value Range
> $1,041,000 0.3
$781,001 - $1,041,000 1.3
$521,001 - $781,000 2.3
$417,001 - $521,000 1.4
$312,001 - $417,000 3.4
$208,001 - $312,000 10.8
$104,001 - $208,000 31.6
$52,001 - $104,000 29.3
$0 - $52,000 19.7

High for AR
Low for Nation

Value Relative to Nation Value Relative to State
66.2118639105229 26.4084507042254

Number Of Homes And Apartments:
15,115

Rent & Ownership

 

Average Market Rent:
$1,005 / per month

Homeownership Rate

Homeownership
Owners 51.10
Renters 48.90
Vacant 20.56

Housing Market Details

 

Age of Homes

AGE OF Hot Springs HOMES
2000 or Newer 13.7
1970 - 1999 38.0
1940 - 1969 35.0
1939 or Older 13.4

Types of Homes

TYPE OF Hot Springs HOMES
Single-Family 62.7
Townhomes 1.9
Small Apt. Buildings 11.5
Apt. Complexes 17.6
Mobile Homes 6.3
Other 0.0

Home Size

SIZE OF Hot Springs HOMES
No Bedroom 3.62
1 Bedroom 14.22
2 Bedrooms 35.55
3 Bedrooms 36.35
4 Bedrooms 9.05
5 or more bedrooms 1.21

Hot Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
34.38% 1.75% 4 4
* 10 is highest