Total monthly cost of ownership
Cost to Own a Home in Hot Springs Village, Arkansas
A $262,000 home here costs
$2,173per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $93,000 a year.
A standard mortgage calculator would have told you $1,428. The real number is $744 higher every month, 52% more than the payment most buyers budget for.
Compare Saline County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hot Springs Village against Saline County and Arkansas
| Measure | Hot Springs Village | Saline County |
|---|---|---|
| Median home value | $262,000 | $211,700 |
| Median property tax | $1,342 | $1,335 |
| Effective tax rate | 0.512% | 0.631% |
| Median gross rent | $1,167 | $980 |
| Population | 16,509 | 125,724 |
Hot Springs Village extends across 2 counties. Figures here use Saline County, where most of its housing sits.
The weather behind that power bill
Hot Springs Village sits in Saline County, which averages a high of 92.9°F in its hottest month and a low of 30.6°F in its coldest, with 53.41" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,150 cooling and 2,994 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Saline County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Saline County
Full Saline County cost breakdown · Every county in Arkansas
Talk to someone who works this market
These are Hot Springs Village averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hot Springs Village every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hot Springs Village I already own here and may sell
Common questions
How much does it cost to own a home in Hot Springs Village?
A $262,000 home in Hot Springs Village, Arkansas costs approximately $2,173 per month with 20% down at 7.24%. That is $1,428 principal and interest, $112 property tax, $196 homeowners insurance, $219 utilities and $218 set aside for maintenance.
What is the property tax rate in Hot Springs Village?
Hot Springs Village has an effective property tax rate of 0.512%, based on a median home value of $262,000 and median real estate taxes of $1,342. That is lower than the Saline County average of 0.631%.
What is the average home price in Hot Springs Village?
The median owner-occupied home value in Hot Springs Village, Arkansas is $262,000, against $211,700 across Saline County.
Is it cheaper to rent or buy in Hot Springs Village?
Median gross rent in Hot Springs Village is $1,167 a month, against $2,173 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hot Springs Village?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hot Springs Village, Arkansas at today's rate takes a household income of roughly $93,000 a year. That covers the full $2,173 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hot Springs Village, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Arkansas.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.