Home Values in Hot Springs, Arkansas — 2026 Market Report
Updated March 2026 | Balanced Market | +2.1% YoY
The median home value in Hot Springs, Arkansas is $195,000 as of March 2026, which is below the national median of $400,000. Home values in Hot Springs have increased by 2.1% over the past year and 11% over the last five years. With a population of 38,797 and a median household income of $38,250, the price-to-income ratio stands at 5.1x, making Hot Springs affordable for the average household.
Hot Springs Housing Market Conditions
| Metric | Hot Springs | National Avg |
|---|---|---|
| Median Home Value | $195,000 | $400,000 |
| YoY Appreciation | +2.1% | +3.8% |
| 5-Year Appreciation | +11% | +22.4% |
| Price per Sq Ft | $53 | $222 |
| Days on Market | 68 days | 45 days |
| Months of Supply | 3 | 3.5 |
| List-to-Sale Ratio | 100.3% | 98.5% |
| Monthly Homes Sold | 32 | — |
| Foreclosure Rate | 0.37% | 0.3% |
Home Value Trends in Hot Springs
A homeowner who purchased at the median price of $175,676 five years ago in Hot Springs would have gained approximately $19,324 in equity, representing a 11% return on investment. Over the past year alone, the typical homeowner gained $4,011 in home equity.
Affordability in Hot Springs, AR
With a median household income of $38,250 and a median home price of $195,000, the price-to-income ratio in Hot Springs is 5.1x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $993 compared to estimated monthly ownership costs of $1,027 gives a rent-vs-buy ratio of 1.03. In Hot Springs, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Hot Springs
The effective property tax rate in Arkansas is 0.62%. On a home valued at $195,000, the estimated annual property tax bill is $1,209, or approximately $101/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Hot Springs is 82.5 (100 = national average), indicating living costs are below the national average.
Calculate Your Mortgage Payment in Hot Springs
Use our free calculator to estimate monthly payments for a $195,000 home
Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Hot Springs, AR?
The median home value in Hot Springs, Arkansas is $195,000 as of March 2026. Home values have changed +2.1% over the past year, with a 5-year appreciation of 11%.
Is Hot Springs a buyer's or seller's market?
Hot Springs is currently a balanced market with 3 months of housing supply. Homes spend an average of 68 days on market, and the list-to-sale price ratio is 100.3%. Supply and demand are relatively balanced.
Are home values going up in Hot Springs?
Yes, home values in Hot Springs have increased by 2.1% over the past year. The 5-year appreciation rate is 11%, meaning a home worth $175,676 five years ago is now worth $195,000.
Is it better to rent or buy in Hot Springs?
The average monthly rent in Hot Springs is $993, while estimated monthly homeownership costs are approximately $1,027. The price-to-rent ratio is 16.4. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Arkansas Cities
Related Resources
Disclaimer: Home value data for Hot Springs, Arkansas is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.