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These days, finding an affordable place to live in the Hot Springs area can be challenging. Home prices in Hot Springs are now at a median cost of $228,457, lower than the South Dakota average of $268,202.
The average cost of rent is $895/mo in Hot Springs, primarily driven by the current value of real estate in the Hot Springs area. In Hot Springs, 27.99% of households rent, and 57.47% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hot Springs is $5,753 per month. Households that rent pay about 15.55% of their income on rent here. Hot Springs’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Buffalo Gap, SD: higher priced homes
- Minnekahta, SD: higher priced homes
- Oral, SD: less expensive homes
- Provo, SD: less expensive homes
- Pringle, SD: higher priced homes
- Smithwick, SD: less expensive homes
- Dudley, SD: less expensive homes
- Edgemont, SD: less expensive homes
- Rumford, SD: less expensive homes
- Oelrichs, SD: less expensive homes
Cities with Similar Populations
- Batesburg, SC: less expensive homes
- Campbell Hall, NY: higher priced homes
- Nowata, OK: less expensive homes
- Homer, LA: less expensive homes
- Hope, RI: higher priced homes
- Jefferson, TX: less expensive homes
- Lake Providence, LA: less expensive homes
- Leavittsburg, OH: less expensive homes
- Meyersdale, PA: less expensive homes
- New Franken, WI: higher priced homes
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