Hot Springs, AR Cost Of Living
Cost Of Living In Hot Springs, AR Summary
Cost of living in Hot Springs research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Hot Springs is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Arkansas, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Hot Springs is 90, with 100 being the average.
The cost of living index in Hot Springs is 0.9x lower than the national average.
Hot Springs ranks as the #36 cheapest in Arkansas out of 69.
Hot Springs ranks as the #1,206 cheapest out of 6,489 in the US.
The median home value in Hot Springs is $246,258.
The median income in Hot Springs is $46,441.
Table Of Contents
Hot Springs's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Hot Springs, AR?
According to the most recent data on the cost of living, Hot Springs has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Arkansas, Hot Springs has a cost of living index that's 1.1x higher than Arkansas's index of 85.
The standard of living in Hot Springs ranks as #36 most affordable out of the 69 places we measured in Arkansas. By definition, that implies Hot Springs ranks as the #33 most expensive place in the Natural State.
For more reading on life in Hot Springs, check out:
In Arkansas
In America
Hot Springs Cost Of Living Vs. Arkansas
Six factors go into calculating the cost of living index in Hot Springs. Here is how it fairs on each of the criteria:
The Services index in Hot Springs is 101.
The Groceries index in Hot Springs is 95.
The Health index in Hot Springs is 87.
The Housing index in Hot Springs is 71.
The Transportation index in Hot Springs is 87.
The Utilities index in Hot Springs is 94.
| Living Expense | Hot Springs | Arkansas | National Average | |
|---|---|---|---|---|
| Overall | 90 | 85 | 100 | |
| Services | 101 | 99 | 100 | |
| Groceries | 95 | 95 | 100 | |
| Health | 87 | 89 | 100 | |
| Housing | 71 | 65 | 100 | |
| Transportation | 87 | 90 | 100 | |
| Utilities | 94 | 93 | 100 | |
Hot Springs, AR Housing Cost Breakdown
Housing swings affordability the most between places in Arkansas, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Hot Springs is $246,258.
The Median Rent in Hot Springs is $902.
The Median Income in Hot Springs is $46,441.
The Home Value To Income in Hot Springs is 5.3x.
The Rent To Monthly Income in Hot Springs is 0.23x.
| Statistic | Hot Springs | Arkansas | United States |
|---|---|---|---|
| Median Home Value | $246,258 | $218,895 | $303,400 |
| Median Rent | $902 | $914 | $1,348 |
| Median Income | $46,441 | $58,773 | $78,538 |
| Home Value To Income | 5.3x | 3.7x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.19x | 0.21x |
Median Home Value
Median Rent
Median Income
Hot Springs, AR Costs By Category
Detailed Hot Springs Services Costs Vs. Arkansas
| Item | Hot Springs | Arkansas |
|---|---|---|
| Shampoo | $1.07 | $1.28 |
| Movie | $11.78 | $12.13 |
| Bowling | $17.78 | $18 |
| Haircut | $26.67 | $24.26 |
| Beauty Salon | $54.14 | $45.56 |
Detailed Hot Springs Groceries Costs Vs. Arkansas
| Item | Hot Springs | Arkansas |
|---|---|---|
| Ground Beef | $5.15 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.52 | $4.67 |
| Potatoes | $5.23 | $4.93 |
| Pizza | $10.47 | $12.09 |
| Beer | $9.83 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Hot Springs Health Costs Vs. Arkansas
| Item | Hot Springs | Arkansas |
|---|---|---|
| Optometrist | $113.39 | $125.68 |
| Doctor | $185.5 | $135.78 |
| Dentist | $94.42 | $113.29 |
Detailed Hot Springs Transportation Costs Vs. Arkansas
| Item | Hot Springs | Arkansas |
|---|---|---|
| Gasoline | $3.1 | $3.46 |
| Tire Balancing | $66.08 | $59.92 |
Detailed Hot Springs Utilities Costs Vs. Arkansas
| Item | Hot Springs | Arkansas |
|---|---|---|
| All Electricity | $166.58 | $193.99 |
| Phone | $205.55 | $192.25 |
Hot Springs SnackAbility
/10
Cost Of Living In Cities Around Hot Springs
The cost of living varies in the cities and towns around Hot Springs. Here's a quick look at the cost of living in the most populous nearby places:
Little Rock, AR has a cost of living index of 97, 1.1x Hot Springs.
Benton, AR has a cost of living index of 95, 1.1x Hot Springs.
Bryant, AR has a cost of living index of 94, 1.0x Hot Springs.
| City | Population | Cost Of Living | Vs. Hot Springs |
|---|---|---|---|
| Little Rock, AR | 202,739 | 97 | 1.1x |
| Benton, AR | 35,954 | 95 | 1.1x |
| Bryant, AR | 21,125 | 94 | 1.0x |
| Maumelle, AR | 19,286 | 105 | 1.2x |
| Malvern, AR | 10,938 | 85 | 0.9x |
| Arkadelphia, AR | 10,316 | 85 | 0.9x |
| Morrilton, AR | 7,022 | 77 | 0.9x |
| East End, AR | 6,344 | 95 | 1.1x |
