Quick facts: Hot springs village, AR

Quick Facts

92.7
Cost of Living
below US average
16,843
Population
7.12
Crime Rate per 1000
below US average
$68,580
Median Income
below US average
$25,000
Median House Price
above US average
$1842.65
Average Rent
above US average
7%
Poverty Rate
below US average
3.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $68,580.

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Income Needed to Buy

βœ“ Affordable
$8k/year
Based on $25,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($68,580) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$79k/year
Based on $1842.65/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $79k vs median $68,580
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hot springs village, AR

Hot Springs Village is a unique unincorporated community located in Garland and Saline counties in Arkansas. Nestled in the picturesque Ouachita Mountains, it spans approximately 26,000 acres and is well known for its stunning natural beauty, abundant outdoor recreational opportunities, and a vibrant retirement community. Originally developed as a retirement haven, Hot Springs Village boasts a variety of amenities, including 11 golf courses, numerous lakes, and trails for hiking, biking, and walking. Residents enjoy access to activities such as boating, fishing, and dining, with a range of facilities including clubhouses, fitness centers, and swimming pools. The nearby Hot Springs National Park offers additional exploration options with its hot springs, scenic views, and hiking paths. With a warm climate and friendly atmosphere, Hot Springs Village is ideal for those looking for a peaceful, community-oriented lifestyle while still being close to the attractions of Hot Springs, just a short drive away. Overall, it is an appealing destination for retirees and outdoor enthusiasts alike.

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