Hot Springs Arkansas Area Home Supply Charts

This page looks at a variety of Hot Springs Arkansas housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Hot Springs depicts it has a Housing Units of 20,454 which is the largest of all places in the greater Hot Springs region.

Figure 2 illustrates the housing density in the Hot Springs housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Hot Springs shows it has a Housing Density of 584.1 which is the third most housing densities of all other places in the greater Hot Springs region. The city with the highest housing density in the area is Lake Hamilton CDP which shows a density of 936.3 (60.3% larger). Comparing housing density to the United States average of 38.9, Hot Springs is markedly bigger. Also, in comparison with the state of Arkansas, housing density of 26.3, Hot Springs is appreciably bigger.

In Figure 4, Hot Springs area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Hot Springs depicts it has a Housing Unit Change of 8.0% which is less than most other places in the local area. The city with the highest change in the housing units in the area is Rockwell CDP which depicts a housing units of 20.4% (approximately 2.6 times bigger). Comparing change in the housing units to the United States average of 5.7%, Hot Springs is 39.9% larger. Also, in comparison with the state of Arkansas, change in the housing units of 4.1%, Hot Springs is about twice as large.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Hot Springs shows it has a Renter Percent of 45.3% which is more than all other places in the local area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 54.7% which is the smallest as measured by owner percent of all the other places in the local area.

Hot Springs Arkansas Home Cost Charts

Looking at the housing data provided in Figure 7, the average Hot Springs home price is illustrated for this community and a useful analysis of affordable housing. Hot Springs shows it has a Median Home Value of $122,900 which is in the mid point range of other places in the greater region. The city with the highest median home price in the area is Lake Hamilton CDP which depicts a home price of $390,900 (approximately 3.2 times bigger). Figure 8 provides aggregate comparative data for the Hot Springs Arkansas metro area in terms of the median housing rental rate, apartment rent, etc. Hot Springs shows it has a Median Gross Rent of $727 which is the second smallest in terms of rental rates of all the other places in the local area. The city with the highest rental rates in the area is Fountain Lake which depicts a rental rates of $3,501 (approximately 4.8 times bigger). Comparing rental rates to the United States average of $1,062, Hot Springs is approximately three-fourths the size. Also, in comparison with the state of Arkansas, rental rates of $745, Hot Springs is only about 2.5% smaller.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Hot Springs has one of the largest proportions of home price worth less than $50,000 at 26% of the total and is ranked #2. The only larger city being Piney CDP with 37%. Second, it has one of the largest proportions of home price worth between $50,000 to $100,000 at 36% of the total and is ranked #2. The only larger city being Hot Springs Village CDP with 40%.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Hot Springs depicts it has a Median Owner Cost of $672 which is in the mid point range of other places in the greater region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Hot Springs metro area. it has a Owner Cost as % of HH Income of 17% which is the second most cost as a percent of household income of all the places in the greater Hot Springs region. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Hot Springs shows it has a Median Home Value as Percent of Median Earnings of 379% which is in the middle range of other places in the metropolitan area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Hot Springs indicates it has a Median Owner Costs-With Mortgage of $992 which is less than most other places in the local area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $353 which is in the mid range of other places in the local area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Hot Springs has one of the largest proportions of owner cost less than $300 at 27% of the total and is ranked #2. The only larger city being Fountain Lake with 33%. Second, it has one of the largest proportions of owner cost between $500 and $700 at 21% of the total and is ranked #2. The only larger city being Piney CDP with 26%. Third, it has one of the largest proportions of owner cost between $700 and $1,000 at 17% of the total and is ranked #2. The only larger city being Hot Springs Village CDP with 21%.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Hot Springs depicts it has a % of Income Owner Costs-With Mortgage of 21% which is in the mid range of other places in the area. The city with the highest cost as a percent of household income in the area is Lake Hamilton CDP which depicts a cost as a percent of household income of 38% (about twice as large). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Hot Springs indicates it has a % of Income Owner Costs-No Mortgage of 11% which is in the intermediate range of other places in the area. The city with the highest cost as a percent of household income in the area is Rockwell CDP which shows a cost as a percent of household income of 12% (only about 5.4% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Hot Springs has one of the largest proportions of rent as a percent of income is less than 10 pct at 18% of the total and is ranked #3. Only #2 Hot Springs Village CDP (21%), and #1 Rockwell CDP (27%) are larger. Second, it has the second smallest as measured by rent as a percent of income is less than 10 pct of all the other places in the area when ranked by rent as a percent of income is between 10pct to 20pct at 19% of the total. Third, it has less than most other places in the metro area when sorted by rent as a percent of income is between 40pct to 50pct at 25% of the total.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $661 which is in the mid range of other places in the local area. The city with the highest median real estate taxes paid in the area is Lake Hamilton CDP which depicts a taxes paid of $2,093 (approximately 3.2 times bigger). Comparing median real estate taxes paid to the United States average of $2,471, Hot Springs is approximately a quarter the size. Also, benchmarked against the state of Arkansas, median real estate taxes paid of $798, Hot Springs is about 20.7% smaller.

Figure 22 shows the percentage of renters who pay for utilities in Hot Springs Arkansas. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Hot Springs has one of the largest proportions of pay extra for utilities at 28% of the total and is ranked #2. The only larger city being Fountain Lake with 59%.

Figure 23 shows the rental rate distribution for this area. Hot Springs Arkansas has one of the largest proportions of rent between 300 and 500 dollars at 31% of the total and is ranked #3. Only #2 Piney CDP (36%), and #1 Lake Hamilton CDP (44%) are larger. Second, it has one of the largest proportions of rent between $2,500 and $3,500 at 0% of the total and is ranked #2. The only larger city being Fountain Lake with 47%.

Hot Springs Arkansas Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Hot Springs has the largest proportion of with heloc at 0% of the total and is ranked #1.

Hot Springs Arkansas Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.3 which is the second most of all the places in the local area. The city with the highest family members per housing unit in the area is Mountain Pine which shows a family members per housing unit of 4.2 (28.6% larger). Comparing family members per housing unit to the United States average of 3.3, Hot Springs is about the same size. Also, compared to the state of Arkansas, family members per housing unit of 3.2, Hot Springs is only about 3.2% larger.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 4.9 which is the smallest in terms of average number of rooms in a house of all the other places in the surrounding region. The city with the highest average number of rooms in a house in the area is Hot Springs Village CDP which depicts an average number of rooms in a house of 6.0 (22.4% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1969 which is the second smallest in terms of year built of all the other places in the local area. The city with the highest year built in the area is Fountain Lake which shows a year built of 2000 ( only slightly larger).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the percentage of homes built between 2010 to 2013 the second smallest in order of homes built in 2014 or later of all the other places in the metro area at 10% of the total. Second, it has the smallest proportion of homes built between 2000 to 2009 at 8% of the total. Third, it has one of the largest proportions of homes built between 1970 to 1979 at 14% of the total and is ranked #2. The only larger city being Rockwell CDP with 18%. Also, it has the largest proportion of homes built between 1960 to 1969 at 13% of the total and is ranked #1. In addition, it has the largest proportion of homes built between 1950 to 1959 at 10% of the total and is ranked #1. Furthermore, it has one of the largest proportions of homes built between 1940 to 1949 at 16% of the total and is ranked #2. The only larger city being Mountain Pine with 39%.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has the largest proportion of owner housing units at 7,323 of the total and is ranked #1.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of one unit attached at 5% of the total and is ranked #1. Second, it has one of the largest proportions of 2 units at 8% of the total and is ranked #2. The only larger city being Lake Hamilton CDP with 8%. Third, it has the largest proportion of 10 to 19 units at 3% of the total and is ranked #1. Also, it has the largest proportion of 20 to 49 units at 7% of the total and is ranked #1. In addition, it has less than most other places in the greater region when ranked by 50 or more units at 3% of the total. Furthermore, it has the largest proportion of mobile home at 0% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2014 or later at $280,800 of the total and is ranked #2. The only larger city being Hot Springs Village CDP with $317,200. Second, it has one of the largest proportions of value of homes built 2010 to 2013 at $240,200 of the total and is ranked #3. Only #2 Rockwell CDP ($251,000), and #1 Lake Hamilton CDP ($408,800) are larger. Third, it has in the mid range of other places in the local area in terms of value of homes built 2000 to 2009 at $164,100 of the total. Also, it has in the middle range of other places in the local area in terms of value of homes built 1990 to 1999 at $158,700 of the total. In addition, it has one of the largest proportions of value of homes built 1980 to 1989 at $113,000 of the total and is ranked #2. The only larger city being Hot Springs Village CDP with $120,000. Furthermore, it has one of the largest proportions of value of homes built 1970 to 1979 at $117,200 of the total and is ranked #3. Only #2 Rockwell CDP ($121,300), and #1 Lake Hamilton CDP ($410,000) are larger. Next it has one of the largest proportions of value of homes built 1960 to 1969 at $84,600 of the total and is ranked #3. Only #2 Rockwell CDP ($101,700), and #1 Piney CDP ($153,100) are larger. Additionally, it has one of the largest proportions of value of homes built 1950 to 1959 at $66,500 of the total and is ranked #2. The only larger city being Fountain Lake with $104,200. And then, it has the largest proportion of value of homes built 1940 to 1949 at $75,000 of the total and is ranked #1.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Hot Springs residents. it has a Owner-Household Size of 2.3 which is in the mid range of other places in the local area. The city with the highest homeowner household size in the area is Fountain Lake which depicts a homeowner household size of 3.0 (29.1% larger).

Figure 37 shows the household size for renters. Hot Springs depicts it has a Renter-Household Size of 2.2 which is the smallest as measured by renter household size of all the other places in the greater region. The city with the highest renter household size in the area is Hot Springs Village CDP which shows a renter household sizes of 2.6 (16.8% larger). Figure 38 shows the year that people who own homes moved into this region. has the percentage of owners moved in 2017 or later in the middle range of other places in the metro area at 14% of the total. Second, it has one of the largest proportions of owners moved in 2015 to 2016 at 26% of the total and is ranked #3. Only #2 Fountain Lake (27%), and #1 Mountain Pine (38%) are larger. Figure 39 shows the year that people who rent moved into the area. Hot Springs has the percentage of renters moved in 2017 or later in the center range of other places in the local area at 33% of the total. Second, it has the largest proportion of renters moved in 2010 to 2014 at 13% of the total and is ranked #1. Third, it has the largest proportion of renters moved in 1990 to 1999 at 3% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2007 which is the second most median year that a home owner moved in of all the places in the greater Hot Springs region. Figure 41 compares the median year that renters moved into their home. Hot Springs depicts it has a Renter Median Year Moved In of 2015 which is the third most of all other places in the metro area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the percentage of home using bottled, tank, or lp gas the second smallest in terms of homes using natural gas of all the other places in the greater region at 50% of the total. Second, it has in the center range of other places in the local area in terms of homes using coal or coke at 0% of the total.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Hot Springs housing department, Arkansas department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Hot Springs shows it has a Total In Group Quarters of 1,772 which is the highest of all places in the greater Hot Springs region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Hot Springs residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Hot Springs has one of the largest proportions of number of people under 18 years of age and in group quarters at 86% of the total and is ranked #2. The only larger city being Hot Springs Village CDP with 100%.