Located in the state of Arkansas, Hot Springs is a mid-sized city with a population of 36,711 people. If we look at the most recent Census, Hot Springs is known to have a predominantly White population. The next two most common races are Black and Asian. Not a fan of sitting in traffic? One big advantage of living in Hot Springs is the reasonable commute times to work. With an average one way commute time of 17 minutes, getting to work is faster than the national average of 26 minutes.
Living in Hot Springs can be a fulfilling experience for anyone moving to the area. Having said that, in the state of Arkansas, there are many incredible places to live, so choose wisely! The best areas in Hot Springs and in surrounding cities are easier to find when you are able to make informed decisions. Using data from amenities, cost of living, weather, education, you will see a detailed breakdown of the most important information as well as comparisons to the Arkansas and national averages.
Hot Springs, AR receives 58 out of 100 for its livability score; this results in a ranking of #359 in Arkansas and #25,395 in the USA. This score ranks well below the US average. With such a low livability score, it might be worth investigating a little further. There are seven total categories that generate the livability score. Hot Springs ranks well for amenities (A+) and cost of living (B+). The bad news for Hot Springs, there are some categories for which it does not score well, this includes: crime (F), education (F), employment (F) and housing (F).
Based on the proximity of local amenities like grocery stores, restaurants, coffee shops, parks, librairies, etc., Hot Springs has received a higher than average score for its local amenities. If you’re planning on relocating and making this area your permanent home, it’s nice to know that there is an ample amount of amenities and things to do within walking distance or a short drive. Some of the notable things to do include: Magic Springs & Crystal Falls, Thai-Me Massage Spa, and Gangster Museum of America.
Assuming that Hot Springs meets all of your requirements, the next most important item to examine is the affordability of real estate in Hot Springs. Everything else becomes a lot less important if it turns out that home prices in Hot Springs are simply unattainable. The median home price for Hot Springs homes is $117,000, which is 2% higher than the Arkansas average. If we take a closer look at the affordability of homes in Hot Springs, we’ll see that the home price to income ratio is 3.8, which is 40.7% higher than the Arkansas average. Knowing if your home will appreciate on a long term or even a short term basis should be factored into your decision making. An increase in your home’s value can be a good way to generate tax-free equity that can create long term financial security. In the past year, appreciation rates for homes in the Hot Springs area were 3.9% and 5 year appreciation rates were 2.8%.