Hot Spring County Real Estate and Livability Trends
Hot Spring County, Arkansas, has experienced noticeable climbs in median home values, from $83,300 in 2015 to $119,600 in 2022, suggesting potential investment opportunities given its relative affordability. Energy-efficient investments are apparently on the rise with residential energy tax credits jumping from $294.12 in 2013 to $2,247.06 in 2021. The educational sector shows promise with an... Read more
Hot Spring County Market Trends
Hot Spring County, Arkansas has seen its median home values climb from $83,300 in 2015 to $119,600 in 2022, offering a possibly attractive investment opportunity given its affordability compared to the state ($162,400) and national ($179,400) medians. There's been a notable rise in residential energy tax credits, from $294.12 in 2013 to $2,247.06 in 2021, reflecting increased investment in energy... Read more
Median Value of Occupied Housing Units in Hot Spring County, Arkansas Over the Last 8 Years
Hot Spring County, Arkansas has shown some interesting market trends in its median home values over the last eight years. Starting at $83,300 in 2015 and rising to $119,600 in 2022, this consistent increase suggests a potentially strong investment opportunity. When compared to state averages, Hot Spring County's values remain lower than Arkansas' median home value of $162,400 in 2022. Nationally, the median value was $179,400 in 2022, placing Hot Spring County well below the national average but offering more affordability. This ongoing growth may offer accessible entry points for first-time buyers or those looking to invest in a rising market without the high costs seen in other regions.
Residential Energy Tax Credit Per Tax Return in Hot Spring County, AR Over the Last 8 Years
Hot Spring County, Arkansas has seen a notable upward trend in residential energy tax credits per tax return over the past eight years, jumping from $294.12 in 2013 to an impressive $2,247.06 in 2021. This significant rise indicates increased investment in energy-efficient home improvements, making the county an attractive option for those looking to build or renovate properties while benefiting from substantial tax credits. As energy efficiency becomes a growing priority, this trend underscores the area's commitment to sustainability, offering potential residents and investors valuable incentives.
Average Real Estate Taxes Per Tax Return in Hot Spring County, AR Over the Last 10 Years
Real estate taxes per tax return in Hot Spring County, Arkansas showed steady growth from 2012's $1,142.35 to 2017's $1,393.71, followed by a sharp increase, peaking at $2,047.22 in 2020. Although there was a slight dip to $1,865.71 in 2021, the general upward trend could suggest rising property values or adjustments in tax assessments, which potential investors or homebuyers might consider when evaluating long-term costs.
Percentage of Farm Returns in Hot Spring County, AR Over the Last 10 Years
Hot Spring County, Arkansas has seen fluctuating percentages in farm tax returns over the last decade, with values typically hovering around 3.67% to 3.97%. Farm tax returns are a measure of the economic activity and viability within the agricultural sector, reflecting how many farmers are reporting their income and expenses for tax purposes. For potential investors and residents, these numbers suggest a relatively stable agricultural economy, making it an interesting indicator of rural business sustainability and land productivity in the area.
Number of Mortgages by Occupancy Type in Hot Spring County, AR Over the Last 5 Years in Hot Spring County
In Hot Spring County, Arkansas, the trend over the last five years shows a steady investment in principal residences, peaking in 2021 at 1,510, and a comparatively lower but somewhat consistent number for investment and second properties. Changes in occupancy type could influence local real estate markets, affecting home prices, rental demand, and market stability. Investors might notice fewer opportunities for investment properties, while the high number of principal residences suggests a stable community appealing to potential residents or insurance agents assessing risk. Real estate agents and appraisers should consider these dynamics for valuation and marketing strategies.
Economic Outlook
Hot Spring County, Arkansas, has seen a steady rise in average taxable income per tax return, moving from $40,888.39 in 2013 to $53,892.53 by 2021. While this growth hints at economic progress, the increase in average state and local income taxes, peaking at $10,067.65 in 2021, suggests a significant tax burden. Average total tax liability also climbed from $4,858.34 in 2012 to $7,038.76 in 2021, which potential investors and residents should consider when assessing long-term financial... Read more
Average Taxable Income per Tax Return in Hot Spring County, AR over the last 9 years
Average taxable income per tax return in Hot Spring County, AR has shown a consistent upward trend over the last nine years. Starting at $40,888.39 in 2013, it has steadily increased to $53,892.53 by 2021. The notable jump in 2021 suggests significant economic growth, making this an attractive time for investors and potential residents considering long-term financial stability and development opportunities in the area.
Average State and Local Income Taxes Per Tax Return in Hot Spring County, AR Over the Last 10 Years
Over the past decade, average state and local income taxes per tax return in Hot Spring County, AR have shown significant variability. Starting at $4,640.11 in 2012, there was a substantial rise peaking at $10,067.65 in 2021. Notably, the year 2018 experienced a dramatic spike to $9,747.37 indicating a broader trend of increasing tax burdens, which potential residents should be aware of when considering living in the area.
Average Total Tax Liability Per Tax Return in Hot Spring County, AR Over the Last 10 Years
Average total tax liability per tax return in Hot Spring County, Arkansas has seen a steady increase over the past decade, climbing from $4,858.34 in 2012 to $7,038.76 in 2021. This upward trend indicates a rising economic burden on taxpayers, which could reflect both an increase in average earnings and changes in tax policies. For those considering investment or relocation, this trend suggests the need to weigh potential economic growth against higher tax liabilities.
Cost of Living in Hot Spring County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $977 | $1,303 | $1,862 | $966 | $971 |
| 1 adult 4 children | $977 | $1,064 | $1,425 | $966 | $1,107 |
| 2 adults 3 children | $977 | $1,064 | $1,616 | $966 | $769 |
| 1 adult 3 children | $977 | $869 | $1,178 | $966 | $825 |
| 2 adults 2 children | $733 | $871 | $1,369 | $839 | $665 |
| 1 adult 2 children | $733 | $651 | $931 | $839 | $614 |
| 2 adults 1 child | $733 | $689 | $1,122 | $426 | $636 |
| 1 adult 1 child | $733 | $445 | $684 | $426 | $554 |
| 2 adults | $557 | $553 | $875 | $0 | $522 |
| 1 adult | $535 | $302 | $438 | $0 | $492 |
Safety trends & Data
Hot Spring County, Arkansas has seen property crime trends fluctuate, especially with larceny-theft cases rising sharply from 39 in 2020 to 142 in 2022. Burglary incidents have shown a slight yearly decrease, while vandalism notably dropped from 14 cases in 2021 to just 5 in 2022. Less frequent crimes like arson and motor vehicle theft have remained low and stable. These patterns may impact property insurance rates and influence investment decisions in the... Read more
Property Crime Trends in Hot Spring County, AR Over the Last 3 Years
Hot Spring County, Arkansas has experienced fluctuations in property crime over the past three years, particularly with significant increases in larceny-theft cases, jumping from 39 in 2020 to 142 in 2022. Burglary incidents have slightly decreased each year, while vandalism saw a notable drop from 14 cases in 2021 to 5 in 2022. The presence of less frequent property crimes like arson and motor vehicle theft remained relatively low but stable. These trends might suggest evolving criminal patterns and could influence property insurance rates and investment decisions in the area.
Demographics
Hot Spring County, Arkansas, presents an intriguing demographic mix, with a slightly higher male population over females. Education levels reveal a larger concentration of residents who either hold a high school diploma or attended some college classes without earning a degree. The adult age distribution skews towards the 55 to 64 age bracket, followed closely by those in the 45 to 54 and 35 to 44 ranges. Racially, the county remains predominantly White, with smaller segments representing Black... Read more
Race Distribution in Hot Spring County, Arkansas (2022)
Educational Attainment in Hot Spring County, Arkansas (2022)
Age Distribution in Hot Spring County, Arkansas
Citizen Population in Hot Spring County, Arkansas (2022)
Political Trends & Data
In Hot Spring County, Arkansas, the 2020 U.S. Presidential Election results show a strong inclination towards the Republican party, which may have secured about 73% of the votes. The Democratic party possibly received around 24.5%, while other parties combined could only muster a little over 2%. This pronounced Republican leaning might shape local policy and strategies in upcoming elections, reflecting the community's political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Hot Spring County, Arkansas, the 2020 U.S. Presidential Election results suggest a strong Republican leaning, with the Republican party potentially capturing approximately 73% of the votes. The Democratic party might have garnered around 24.5%, while the Libertarian and Green parties, as well as other candidates, combined could account for a little over 2%. These numbers hint at a significant Republican presence, which could influence local policy and electoral strategies in future elections.
73.28% of voters voted for the Republican party in the 2020 Presidential Election
24.54% of voters voted for the Democrat party in the 2020 Presidential Election
0.74% of voters voted for the Livertarian party in the 2020 Presidential Election
0.13% of voters voted for the Green party in the 2020 Presidential Election
1.31% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Hot Spring County, Arkansas, the student-to-teacher ratio has improved from 13:1 in 2014 to 11:1 in 2023, compared to the national average of 14:1. This could hint at higher educational quality and might attract families seeking personalized learning environments for their children. For investors and real estate agents, this trend could suggest a stable or growing demand for residential properties, as educational quality often plays a key role in real estate... Read more
Student-to-teacher ratio in Hot Spring County, Arkansas over the last 10 years
Over the past decade in Hot Spring County, Arkansas, the student-to-teacher ratio has generally declined from 13 students per teacher in 2014 to around 11 in 2023. This trend is notable when compared to the national average of 14 students per teacher, suggesting that this area offers smaller class sizes. Smaller class sizes can potentially indicate a higher quality of education and attract families looking for a more personalized learning environment for their children. For investors, this downward trend might signal a stable or growing demand for residential properties, as educational quality often influences real estate decisions. Real estate agents might find this data useful to market properties to prospective buyers looking for quality education opportunities in the area.
