The typical owner-occupied home in Hot Springs Village is worth about $272,000, 45% above the Arkansas median of $188,000 and 18% below the national median of $332,700. Owners pay a median $1,367 a year in property taxes, about 0.50% of their home's value, lower than the Arkansas rate of 0.55%. The median household earns $75,370 a year, so the median home costs 3.6 times the median income (3.1 times for Arkansas). 88% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
Hot Springs Village at a glance
| Hot Springs Village | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $272,000 | $188,000 | $332,700 |
| Median property tax paid per year | $1,367 | $1,040 | $3,119 |
| Property tax as a share of value | 0.50% | 0.55% | 0.94% |
| Median household income | $75,370 | $60,773 | $80,734 |
| Homes lived in by their owners | 88% | 66% | 65% |
| Owner homes with a mortgage | 43% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,452 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 22.2% | 18.5% | 21.0% |
| Median rent | $1,209 | $947 | $1,413 |
| Rent as a share of renters' income | 29.0% | 27.6% | 30.6% |
| Median year homes were built | 1994 | 1987 | 1980 |
| Vacant homes | 12.9% | 13.5% | 10.1% |
| Population | 16,327 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Hot Springs Village
At this week's average 30-year rate of 7.11%, buying the median Hot Springs Village home of $272,000 with 20% down costs about $1,690 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,144, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $72,449 for the 20%-down payment. That payment is 27% of the median Hot Springs Village household income of $75,370; at that income and 20% down, the 28% guideline points to a home of about $283,000.
The median rent here is $1,209 a month, so owning the median home costs about $481 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $54,400 |
|---|---|
| Loan amount | $217,600 |
| Principal and interest | $1,464 |
| Property taxes (0.50% a year) | $113 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| PMI | $0 |
| Total per month | $1,690 |
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| Down payment | $9,520 |
|---|---|
| Loan amount | $267,073 |
| Principal and interest | $1,797 |
| Property taxes (0.50% a year) | $113 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| FHA mortgage insurance | $120 |
| Total per month | $2,144 |
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Questions about home buying in Hot Springs Village
What is the median home value in Hot Springs Village?
About $272,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hot Springs Village?
Homeowners pay a median $1,367 a year, which is about 0.50% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Hot Springs Village?
For the median home with 20% down at 7.11%, the payment is about $1,690 a month. Keeping that under 28% of gross income takes about $72,449 a year.
More about Hot Springs Village
- Mortgage Refinance in Hot Springs Village
- Debt Relief in Hot Springs Village
- Home Equity Loans in Hot Springs Village
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data