| Index | Hot Springs | Arkansas | National |
| Cost of living | 88 | 86 | 100 |
| Groceries | 97 | 96 | 100 |
| Health care | 96 | 95 | 100 |
| Housing | 72 | 67 | 100 |
| Transportation | 96 | 94 | 100 |
| Utilities | 93 | 93 | 100 |
| Lifestyle & Entertainment | 93 | 93 | 100 |
| Household Items | 98 | 96 | 100 |
| Education & Childcare | 95 | 92 | 100 |
Getting a feel for the cost of living in Hot Springs is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Hot Springs is 88, which is 12% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The real experts on a city are its residents. That's why we reached out to 9 locals to get their views on the cost of living in Hot Springs. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 33% found it budget-friendly with decreasing prices, while 67% said it's simply not affordable as prices have continued to rise.
Is Hot Springs an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Hot Springs is 30.8% lower than the national average, while the average monthly rent prices are 21.7% lower than average. The affordability of any location can also be influenced by median income levels. Hot Springs has a median household income of $59,940, which is 26.3% lower than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Hot Springs, the transportation index stands at 4.5% lower than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Hot Springs, the groceries index is 3% lower than the national average.
The cost of living estimates displayed for Hot Springs are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $75,966 | $6,331 | $1,772 | $2,279 |
| Renters | $42,462 | $3,539 | $991 | $1,274 |
| State | General Sales Tax | With Max Surtax |
| Arkansas | 6.5% | 11.625% |
| State | Income Tax (Low) | Income Tax (High) |
| Arkansas | 2% | 4.9% |
| City | Population | Cost of Living Index | National Avg. |
| Mountain Pine, AR | 536 | 76 | 24.3% |
| Magnet Cove, AR | 985 | 81 | 19.0% |
| Malvern, AR | 11,203 | 83 | 16.9% |
| Piney, AR | 4,679 | 86 | 14.0% |
| Rockport, AR | 841 | 86 | 13.9% |
| Hot Springs, AR | 39,496 | 88 | 11.6% |
| City | Population | Cost of Living Index | National Avg. |
| Pahrump, NV | 39,506 | 101 | 0.9% |
| Hobbs, NM | 39,472 | 93 | 6.7% |
| Clovis, NM | 39,532 | 92 | 8.5% |
| Lynnwood, WA | 39,454 | 138 | 38.0% |
| Florence, SC | 39,448 | 95 | 4.8% |
| Hot Springs, AR | 39,496 | 88 | 11.6% |
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