Retirees Find Healing Waters and Affordable Housing in Hot Springs, Arkansas

Cost of Living:  Below the National Average

Affordable housing, which is plentiful and varied, is another reason older folks appreciate this area.  Indeed, housing prices are ranked nearly 25% below the national average.   The most well-known real estate may be inside Hot Springs Village, a gated retirement community and resort about 15 miles north of the town Hot Springs.  About 8,500 people call  HSV home (it is billed as "America's largest retirement community"), and it has 9 golf courses and 9 lakes.   Town homes and single family homes are for sale, as are lots ($8,000 and up).  The least expensive town home we found for sale was $75,000 for 1,200 square feet (3 bedrooms, 1.5 baths), and the most expensive single-family home was $545,000 for 5,000 square feet, 5 bedrooms and 3 baths.  Homes can be found for nearly any price within that range.

Within the town of Hot Springs itself, single family homes with 3 bedrooms, 2 baths start at roughly $100,000.  We had heard of homes available for $50,000 and under, but we did not find any in our search.  The least expensive home we found was a ranch-style, 1,400 square foot, 2 bedroom residence in good (but not great) condition for $69,000.   Single family homes become more plentiful in the $150,000-$200,000 range.  Brick mini-mansions with manicured lawns (but not necessarily large lots), 4-5 bedrooms and 2,800+ square feet can be had for $265,000-$300,000.  Town homes range in price from $65,000 to $350,000.  Single family homes in the Lake Hamilton area just south of town start at around $200,000, although we did find a couple of them for $165,000-$175,000.  The more expensive homes are on the Lake's edge, and those under $200,000 tend to sit back from the water a bit but still have a Lake view.

Hot Springs has 28 mobile home and/or manufactured home communities with prices beginning at $25,000 for 2-3 bedrooms and 1-2 baths.   Apartments for rent are also another option.  Monthly rents are quite reasonable, with $450-$500 per month not uncommon for a 2 bedroom unit in town, although nicer complexes charge $600 a month or slightly higher.

Property is assessed at 20% of market value and is charged a rate of $41 per $1,000 of assessed value.  That rate varies according to the school district in which the real estate is located (in Hot Springs Village, for example, the rate is less).  Taxes on a $150,000 home would be $1,230 per year.

Health care in Hot Springs is quite good for a city its size.  There are three general hospitals, and Little Rock, with more medical facilities, is less than an hour away.    Garrett Manor is a Level II assisted living facility.   Call 479-471-9797 for more information.

Hot Springs caters to seniors and has 150 volunteer organizations in which they can become involved.   Opportunities include helping out at Hot Springs National Park through the VIPS program (Volunteers in Parks), assisting in local hospitals, helping organize the annual Senior Olympics, giving tours at one of several local museums and many, many others.  There is a local AARP chapter, and the Women's Welcome Club is a volunteer group that makes newcomers feel at home.  The Senior Center is a hot spot for social and recreational activities, and the State of Arkansas has a website that lists many of its senior services (www.arkansas.gov/dhhs/aging).

Located in a valley at the edge of the Ouachita National Forest, Hot Springs is surrounded by five lakes,  providing plentiful opportunities for camping, hiking, fishing, boating and water skiing, to name a few.  There are four public golf courses and several private ones.  Restaurants, in a variety of cuisines, are quite good and plentiful.  The jewel of Hot Springs, though, is Bathhouse Row, a part of the Hot Springs National Park, where opulent 1920s bathhouses still stand in gorgeous splendor, giving a glimpse of a bygone era.

Fordyce Bathhouse is the granddaddy of all Hot Springs' bathhouses.  Built in 1915, it was said to be "the most practical, complete, and luxurious bathhouse in the world."   Today, it houses the Park's visitors' center and a free museum.  Only one of the eight original bathhouses still offers baths and massages, but newer bathhouses are located throughout this historic downtown district and provide a wonderful, rejuvenating way to spend an afternoon.  This is, after all, what has been bringing people to Hot Springs for the last two centuries.

Along Central Avenue, just across the street from Bathhouse Row, are nearly two dozen art galleries and museums.  The Art Gallery Walk on the first Friday of each month is fun, as is the Magic Springs Amusement Park summer concert series.  The Downtown Farmers Market is open Saturday mornings, and the Old Time Jazz Quartet in the Arlington Hotel Big Lobby is a great way to spend  a weekend evening.    The town also presents the Hot Springs Music Festival, the Hot Springs Documentary Film Festival and the free Hot Springs Jazz Festival each year.  Oak Lawn is the local thoroughbred horseracing track.

Hot Springs has a transit system that services the downtown area and major destinations, including the hospitals, but the suburbs are not serviced.  The buses will take residents to many of the 90 churches found throughout town.

This area does have some drawbacks, the main one probably being the crime rate, which is higher than the national average (20% of the population lives below the poverty line).  Most crimes appear to be thefts and burglaries.  Hot Springs does have some unattractive and less than desirable neighborhoods where crime spikes, and this tends to skew the crime statistics.  The further out from these neighborhoods one travels, the less crime takes place.   The Lake Hamilton neighborhood and those neighborhoods on the west side of town seem safe.  Attention to personal safety, no matter where one lives, is always a good idea.   

The weather, while generally mild and providing four seasons, may also be a drawback for some.  It rains a lot (60 inches a year on average), and winters are chilly, with temperatures reaching into the low 30s at night.  It occasionally snows.   Summers are hot and humid (mid-80s are average), and the sun is seen about 60% of the time.  

And while Hot Springs is generally a quiet place, it does attract tourists, particularly during the summer, and the downtown area can get quite congested.

To reach the Hot Springs' Chamber of Commerce, click here.

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