Hot Springs Village, AR Cost Of Living
Cost Of Living In Hot Springs Village, AR Summary
Cost of living in Hot Springs Village 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 Village 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 Village is 102, with 100 being the average.
The cost of living index in Hot Springs Village is 1.0x higher than the national average.
Hot Springs Village ranks as the #62 cheapest in Arkansas out of 69.
Hot Springs Village ranks as the #2,846 cheapest out of 6,489 in the US.
The median home value in Hot Springs Village is $302,874.
The median income in Hot Springs Village is $69,953.
Table Of Contents
Hot Springs Village's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Hot Springs Village, AR?
According to the most recent data on the cost of living, Hot Springs Village has an overall cost of living index of 102, which is 1.0x higher than the national index of 100.
Compared to Arkansas, Hot Springs Village has a cost of living index that's 1.2x higher than Arkansas's index of 85.
The standard of living in Hot Springs Village ranks as #62 most affordable out of the 69 places we measured in Arkansas. By definition, that implies Hot Springs Village ranks as the #7 most expensive place in the Natural State.
For more reading on life in Hot Springs Village, check out:
In Arkansas
In America
Hot Springs Village Cost Of Living Vs. Arkansas
Six factors go into calculating the cost of living index in Hot Springs Village. Here is how it fairs on each of the criteria:
The Services index in Hot Springs Village is 102.
The Groceries index in Hot Springs Village is 95.
The Health index in Hot Springs Village is 88.
The Housing index in Hot Springs Village is 116.
The Transportation index in Hot Springs Village is 90.
The Utilities index in Hot Springs Village is 92.
| Living Expense | Hot Springs Village | Arkansas | National Average | |
|---|---|---|---|---|
| Overall | 102 | 85 | 100 | |
| Services | 102 | 99 | 100 | |
| Groceries | 95 | 95 | 100 | |
| Health | 88 | 89 | 100 | |
| Housing | 116 | 65 | 100 | |
| Transportation | 90 | 90 | 100 | |
| Utilities | 92 | 93 | 100 | |
Hot Springs Village, 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 Village is $302,874.
The Median Rent in Hot Springs Village is $1,167.
The Median Income in Hot Springs Village is $69,953.
The Home Value To Income in Hot Springs Village is 4.3x.
The Rent To Monthly Income in Hot Springs Village is 0.2x.
| Statistic | Hot Springs Village | Arkansas | United States |
|---|---|---|---|
| Median Home Value | $302,874 | $218,895 | $303,400 |
| Median Rent | $1,167 | $914 | $1,348 |
| Median Income | $69,953 | $58,773 | $78,538 |
| Home Value To Income | 4.3x | 3.7x | 3.9x |
| Rent To Monthly Income | 0.2x | 0.19x | 0.21x |
Median Home Value
Median Rent
Median Income
Hot Springs Village, AR Costs By Category
Detailed Hot Springs Village Services Costs Vs. Arkansas
| Item | Hot Springs Village | 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 Village Groceries Costs Vs. Arkansas
| Item | Hot Springs Village | 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 Village Health Costs Vs. Arkansas
| Item | Hot Springs Village | Arkansas |
|---|---|---|
| Optometrist | $113.39 | $125.68 |
| Doctor | $185.5 | $135.78 |
| Dentist | $94.42 | $113.29 |
Detailed Hot Springs Village Transportation Costs Vs. Arkansas
| Item | Hot Springs Village | Arkansas |
|---|---|---|
| Gasoline | $3.1 | $3.46 |
| Tire Balancing | $66.08 | $59.92 |
Detailed Hot Springs Village Utilities Costs Vs. Arkansas
| Item | Hot Springs Village | Arkansas |
|---|---|---|
| All Electricity | $166.58 | $193.99 |
| Phone | $205.55 | $192.25 |
Hot Springs Village SnackAbility
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