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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 $197,575, lower than the Virginia average of $443,089.
The average cost of rent is $793/mo in Hot Springs, primarily driven by the current value of real estate in the Hot Springs area. In Hot Springs, 24.92% of households rent, and 64.76% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hot Springs is $7,130 per month. Households that rent pay about 11.13% of their income on rent here. Hot Springs’s most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Healing Springs, VA: higher priced homes
- Callison, VA: equally priced homes
- Bacova Junction, VA: equally priced homes
- Carloover, VA: less expensive homes
- Bacova, VA: equally priced homes
- Mitchelltown, VA: equally priced homes
- West Warm Springs, VA: higher priced homes
- Griffith, VA: less expensive homes
- Longdale, VA: less expensive homes
- Falling Spring, VA: less expensive homes
Cities with Similar Populations
- West Mayfield, PA: less expensive homes
- Center, NC: equally priced homes
- Center Ridge, AR: less expensive homes
- Central High, OK: higher priced homes
- Chaffee, NY: equally priced homes
- Chama, NM: higher priced homes
- Cullen, LA: less expensive homes
- Delight, AR: less expensive homes
- Waterford, MS: equally priced homes
- Wellpinit, WA: less expensive homes
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