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City · 37,920 residents · Garland County, Arkansas

Hot Springs , Arkansas

In Hot Springs, a typical home is worth $165,500 and typical rent is $914 a month. Compared with all of Garland County, typical household income is 16% lower, the typical home value is 15% lower, and the share of households that own their home is 12 points lower.

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  • Typical home value

    $165,500

    15% below the county

    12% below Arkansas

    • Hot Springs
    • Garland
    • Arkansas

  • Typical rent

    $914a month

    5% below the county

    3% below Arkansas

    • Hot Springs
    • Garland
    • Arkansas

  • Typical household income

    $47,760a year

    16% below the county

    21% below Arkansas

    • Hot Springs
    • Garland
    • Arkansas

  • Households that own their home

    57%

    12 points below the county

    9 points below Arkansas

    • Hot Springs
    • Garland
    • Arkansas

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$242,674
about the same as 12 months ago
Typical rent
$1,189 a month
5.2% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Hot Springs is in Garland County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Garland County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Hot Springs apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Malvern, the typical home value is $104,500: 37% less than in Hot Springs ($165,500).

  2. According to Zillow, in the 12 months to September 2026 the typical home value in Hot Springs barely changed; in Arkansas, it rose 3.4%.

  3. Nearby, in Malvern, the typical rent is $764: 16% less than in Hot Springs ($914).

  4. 57% of households in Hot Springs own their home, against 69% in Garland County.

  5. The typical household income in Hot Springs is $47,760, 16% less than in Garland County as a whole ($57,181).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Hot Springs

What homes there are in Hot Springs, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

As in Garland County, most homes in Hot Springs are detached houses (63%).

Year built

The typical home in Hot Springs was built in 1973, 11 years before the typical one in Garland County.

There are fewer big homes in Hot Springs than in Garland County: 49% have 3 bedrooms or more, against 62%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

By price, most homes in Hot Springs sit under the FHA limit for Garland County ($541,287): about 95%.

Monthly rent with utilities

About 68% of rented homes in Hot Springs cost less than HUD's 2-bedroom fair market rent for Garland County ($1,110).

With a mortgage

$1,228 a month

Garland County: $1,278 a month

Without a mortgage

$460 a month

Garland County: $449 a month

Owners with a mortgage

49%

Garland County: 49%

Owning costs about the same in Hot Springs as in Garland County: with a mortgage, $1,228 a month; without one, $460.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Hot Springs rose 35% since 2015–2019, less than in Garland County (39%).

Much as in Garland County, the typical rent in Hot Springs rose 26% since 2015–2019.

To compare: typical income in Hot Springs rose 27%; the home, +35%; the rent, +26%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureHot SpringsGarland CountyArkansasUnited States
Rental vacancy 9.2%7.4%6.4%5.5%
Homeowner vacancy Unreliable estimate1.3%1.1%0.9%
More than one person per room 2.3%2.7%2.7%3.4%
People per household 2.002.252.462.53
Drive alone 76%78%79%69%
Carpool 13%12%9%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike 3%1%2%3%
Work from home 7%8%9%15%
Other means Unreliable estimate1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes10 to 19 minutes20 to 29 minutes

The rental vacancy rate in Hot Springs is 9.2%, higher than in Garland County (7.4%).

Much as in Garland County, 2.3% of households in Hot Springs have more than one person per room.

Households in Hot Springs are smaller: 2.00 people on average; in Garland County, 2.25.

The car rules in Hot Springs: 76% of workers drive to work alone, and the typical trip takes 10 to 19 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Hot Springs?

A typical home is tight for the typical income

We start with a typical home in Hot Springs, worth $165,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in Hot Springs, which is $47,760 a year. For that payment to be 28% of income, a household would need to earn about $56,168 a year.

The calculator's FHA and conventional loan limits are those of all of Garland County.

Your numbers

Local data
$

Starts at the typical home value in Hot Springs. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $5,793 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,311

at 7.18% · 30 years

Loan amount
$162,502
Total interest
$233,802
Paid off in
November 2056

Includes $2,795 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,114 a month

  • Tight

    $1,114 to $1,433 a month

    Your payment · 33%

  • Hard

    more than $1,433 a month

Compared with the typical household income in Hot Springs ($47,760 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,311
Principal & interest$1,101
Property tax$68
Home insurance$69
FHA mortgage insurance (MIP)$73

You need at least $5,793 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Hot Springs and Garland County

Hot Springs is in Garland County, Arkansas. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Hot Springs's own numbers

Typical home value
$165,500
Typical monthly rent
$914
Typical yearly household income
$47,760
Households that own their home
57%
Effective property tax rate
0.49%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Garland County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,110
Price change over 5 years (FHFA)
+55%
Homes in a high flood-risk zone
4%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Garland County.

Everything about Garland County

Buying

Buying a home in Hot Springs

A typical home in Hot Springs is worth $165,500: 15% below the county and 12% below Arkansas. With the typical household income in Hot Springs ($47,760 a year), a typical home costs 3.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Hot Springs 3.5 years
  • Garland 3.4 years
  • Arkansas 3.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Garland County

According to FHFA’s house price index, home prices in Garland County rose 81% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Garland County.

Period County Arkansas U.S.
Last year (2025) +3.9% +3.4% +2.9%
5 years (2020–2025) +55% +52% +47%
10 years (2015–2025) +81% +79% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Hot Springs next to Garland County, Arkansas and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Hot Springs $165,500
  • Garland $194,300
  • Arkansas $188,000
  • United States $332,700
Typical monthly rent
  • Hot Springs $914
  • Garland $966
  • Arkansas $947
  • United States $1,413
Typical yearly household income
  • Hot Springs $47,760
  • Garland $57,181
  • Arkansas $60,773
  • United States $80,734
See the full table
Hot Springs next to Garland County and Arkansas
Measure Hot Springs Garland County Arkansas U.S.
Typical home value $165,500 $194,300 $188,000 $332,700
Typical monthly rent $914 $966 $947 $1,413
Typical yearly household income $47,760 $57,181 $60,773 $80,734
Households that own their home 57% 69% 66% 65%
Typical yearly property tax $816 $933 $1,040 $3,119
Effective property tax rate 0.49% 0.48% 0.55% 0.94%
Renters with high rent for their income 49% 45% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Garland County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Hot Springs

For a typical $165,500 home in Hot Springs, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Hot Springs's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,311a month

    Least cash to close
    Down payment
    $5,793
    Cash to close
    $10,758
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $73

  • Conventional, 5% down $1,280a month

    Down payment
    $8,275
    Cash to close
    $13,240
    Rate
    7.18%
    Mortgage insurance
    PMI · $79

  • Conventional, 20% down, no PMI $1,033a month

    Down payment
    $33,100
    Cash to close
    $38,065
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,186a month

    Down payment
    $24,825
    Cash to close
    $29,790
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Hot Springs and for Garland County.

Property tax

Effective rate in Hot Springs

0.49%of the home’s value each year

$816 a year for the typical owner in Hot Springs.

  • Hot Springs 0.49%
  • Garland 0.48%
  • Arkansas 0.55%

What Arkansas publishes Homestead property tax credit (Arkansas General Assembly (Act 174 of the 2026 Fiscal Session))

Exemptions and deadlines in Arkansas

Flood risk in Garland County

FEMA does not publish these numbers by city: they are for all of Garland County.

Homes in the high-risk zone
4%
1,779
Of those, with NFIP insurance
26%
County Arkansas U.S.
Homes in the high-risk zone 4% 3.4% 3.5%
Of those, with NFIP insurance 26% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Hot Springs

Typical rent in Hot Springs is $914 a month: 5% below the county. In Hot Springs, 49% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Garland County, by unit size. To pay the 2-bedroom one ($1,110 a month) without spending more than 30% of your income, you would need to earn $21.35 an hour working full time.

HUD fair market rent for all of Garland County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $858 $16.50 $34,320
1 bedroom $863 $16.60 $34,520
2 bedrooms $1,110 $21.35 $44,400
3 bedrooms $1,424 $27.38 $56,960
4 bedrooms $1,599 $30.75 $63,960

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Hot Springs

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Hot Springs has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,020 in 71901 to $1,150 in 71913.

1 of the 2 is above the fair market rent for Garland County ($1,110).

  • 71901 $1,020$1,310
  • 71913 $1,150$1,470

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Hot Springs when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Hot Springs

HUD lists 27 buildings with rents for lower incomes in Hot Springs. These are the largest.

  • Mountain View Heights 1002 Illinois; 800 Spring STS 100 Highrise Circle, Hot Springs 71901 365 low-income homes · Studio: 120 · 1 bd: 23 · 2 bd: 120 · 3 bd: 95 · 4 bd: 7
  • Levi Towers 240 Prospect Ave, Hot Springs 71901 102 homes, 101 low-income · For older adults (501) 623-8419
  • Aristocrat Manor Apartments 240 Central Ave, Hot Springs 71901 101 low-income homes · For older adults (501) 624-4601
  • Ridge at Lake Hamilton 329 Amity Rd, Hot Springs 71913 96 homes, 76 low-income · 1 bd: 29 · 2 bd: 50 · 3 bd: 17 · In service since 2003
  • Park Place Apartments 125 Oriole St, Hot Springs 71901 71 low-income homes · 1 bd: 44 · 2 bd: 16 · 3 bd: 8 · 4 bd: 3 · In service since 2013

See all 27 buildings in Garland County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Hot Springs

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Garland County; 1 says it serves in Spanish.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Hot Springs

No down payment, repair or rent-help program on our list is for Hot Springs or Garland County. The ones below are statewide in Arkansas: they work in Hot Springs the same as in the rest of the state.

Which programs do I qualify for? All programs in Arkansas

  • ADFA Down Payment Assistance Loan Program

    Statewide in Arkansas

    Arkansas state authority second mortgage of $1,000 to $15,000 for the down payment and closing costs, over 10 years and at the same rate as the ADFA first mortgage (Move-Up or StartSmart). Offered by Arkansas Development Finance Authority (ADFA).

    Repayable

    See the program Official page

Housing counselors near Hot Springs

The HUD-approved agencies closest to the center of Hot Springs, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Southern Bancorp Community Partners

    206 Airport Rd, Hot Springs · 2 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    501-406-6000-2863

  • In Affordable Housing, Incorporated

    3224 Shackleford Pass, Little Rock · 41 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 4 more
    (501) 221-2203

  • NSC (naca Counseling Subsidiary) - Little Rock, AR

    1501 N University Ave Ste 680, Little Rock · 45 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (501) 492-0083

Every agency in Garland County All counseling agencies in Arkansas

Help in Spanish near Hot Springs

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Hot Springs

HUD’s record names them for Hot Springs or Garland County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Hot Springs Housing Authority Public housing and Section 8 vouchers (501) 321-4711

All housing agencies in Arkansas Source: HUD

Cities

Nearby cities

The cities closest to Hot Springs, with the typical home value.

Everything about Garland County Housing in Arkansas

Neighboring counties

If Garland County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Hot Springs.

All guides
A man and two girls read a book together on the sofa.

Questions

Housing questions about Hot Springs

Short answers with the numbers for Hot Springs and all of Garland County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Hot Springs?

The typical home value in Hot Springs is $165,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Garland County it is $194,300.

How much does it cost to rent in Hot Springs?

Typical rent in Hot Springs is $914 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Garland County is $1,110.

What is the FHA loan limit in Hot Springs?

Hot Springs uses the FHA limit for all of Garland County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Hot Springs?

The typical homeowner in Hot Springs pays $816 a year, according to the U.S. Census Bureau. That is 0.49% of the home’s value; in Garland County, the rate is 0.48%.

Where can I find free help to buy or rent in Hot Springs?

There is 1 HUD-approved counseling agency with an office in Garland County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).