Average Rent in Hot Springs, AR↑ Rents rising 3.0% YoY🔺 4th priciest in AR

Hot Springs, AR has rental prices ranging from $799/month to $1,627/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $805/month — 42% below the national average of $1,400/month. With a median household income of $55,409/year, spending $805/month on a 1-bedroom represents 17% of gross income — within the recommended 30% threshold.

How Hot Springs Compares

With an average 2-bedroom rent of $1,037/month, Hot Springs ranks #4 most expensive of the 67 cities tracked in Arkansas — pricier than 69% of all US cities in our data.

The Hot Springs Rental Market

The Hot Springs, AR area has a population of about 100,062 and 31% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Hot Springs, AR have risen by $30/month (3.0%) over the past year, from $1,007 to $1,037. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Hot Springs, AR without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $32,200. The local median household income of $55,409 exceeds that threshold by $23,209, making Hot Springs relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Hot Springs, AR is $244,202, giving a price-to-rent ratio of 19.6. With a break-even horizon of approximately 20 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Hot Springs's neighborhoods. Among the highest-value areas are Piney ($227,096 median home value), Rockwell ($352,729 median home value), Lake Hamilton ($422,337 median home value). Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Hot Springs, AR Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Hot Springs?

Break-even analysis and mortgage estimates based on local market data.

Living in Hot Springs

Cost of living, job market, crime rates, and moving cost estimates.