Hot Springs renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Hot Springs is about $615 per month. This puts it in the 30th percentile compared to the state average cost of rent, which is $846. Households in Hot Springs have a median income of $4,193 per month so the average renter in Hot Springs is spending roughly 15% of their earnings on housing.
Nationally, and in Hot Springs, home values are the data point most closely correlated with the cost of rent. The median price of a home in Hot Springs is $179,544 right now, which is higher than nearby cities, meaning that rents in Hot Springs also tend to be higher versus these nearby cities.
Higher rent prices are common in the northwestern parts of Hot Springs while lower rent rates are often available in southwestern areas.
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