The typical owner-occupied home in Hot Springs County is worth about $227,500, 27% below the Wyoming median of $309,700 and 32% below the national median of $332,700. Owners pay a median $1,236 a year in property taxes, about 0.54% of their home's value, close to the Wyoming rate of 0.57%. The median household earns $61,250 a year, so the median home costs 3.7 times the median income (4.1 times for Wyoming). 73% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Hot Springs County at a glance
| Hot Springs County | Wyoming | U.S. | |
|---|---|---|---|
| Median home value | $227,500 | $309,700 | $332,700 |
| Median property tax paid per year | $1,236 | $1,767 | $3,119 |
| Property tax as a share of value | 0.54% | 0.57% | 0.94% |
| Median household income | $61,250 | $76,176 | $80,734 |
| Homes lived in by their owners | 73% | 72% | 65% |
| Owner homes with a mortgage | 42% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,378 | $1,754 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 21.0% | 21.0% |
| Median rent | $887 | $992 | $1,413 |
| Rent as a share of renters' income | 28.7% | 27.0% | 30.6% |
| Median year homes were built | 1974 | 1981 | 1980 |
| Vacant homes | 13.0% | 12.2% | 10.1% |
| Population | 4,620 | 582,397 | 334,922,499 |
What a typical home costs per month in Hot Springs County
At this week's average 30-year rate of 7.11%, buying the median Hot Springs County home of $227,500 with 20% down costs about $1,422 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,800, 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 $60,921 for the 20%-down payment. That payment is 28% of the median Hot Springs County household income of $61,250; at that income and 20% down, the 28% guideline points to a home of about $229,000.
The median rent here is $887 a month, so owning the median home costs about $534 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $45,500 |
|---|---|
| Loan amount | $182,000 |
| Principal and interest | $1,224 |
| Property taxes (0.54% a year) | $102 |
| Homeowners insurance (our estimate, 0.5% a year) | $95 |
| PMI | $0 |
| Total per month | $1,422 |
Change the numbers in the calculator
| Down payment | $7,962 |
|---|---|
| Loan amount | $223,379 |
| Principal and interest | $1,503 |
| Property taxes (0.54% a year) | $102 |
| Homeowners insurance (our estimate, 0.5% a year) | $95 |
| FHA mortgage insurance | $101 |
| Total per month | $1,800 |
Change the numbers in the calculator
Questions about home buying in Hot Springs County
What is the median home value in Hot Springs County?
About $227,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hot Springs County?
Homeowners pay a median $1,236 a year, which is about 0.54% 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 County?
For the median home with 20% down at 7.11%, the payment is about $1,422 a month. Keeping that under 28% of gross income takes about $60,921 a year.
More about Hot Springs County
- Mortgage Refinance in Hot Springs County
- Debt Relief in Hot Springs County
- Home Equity Loans in Hot Springs County
- 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