How many renters live in Hot Spring County, Arkansas?
The County of Hot Spring County has people living in households.
There are renters living in renter households in this County. Renters make up 20.23 percent of the population living in Hot Spring County.
What is the rental market like in Hot Spring County, Arkansas?
There are an estimated housing units in the Hot Spring County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Hot Spring County, Arkansas, there are 1.08 rental units.
What is the vacancy rate for rentals in Hot Spring County?
The rental vacancy rate in Hot Spring County is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Hot Spring County for each bedroom size?
Occupied Rental Units by Size in Hot Spring County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 204 | 231 | 1,012 | 864 | 225 |
Occupied Rental Units by Size in Hot Spring County
A large number of apartments in Hot Spring County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Hot Spring County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $603 to $1,310. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $603 |
| One BR | $620 |
| Two BR | $814 |
| Three BR | $1,090 |
| Four BR | $1,310 |
2024 Fair Market Rents in Hot Spring County, Arkansas
How many units are rented at Fair Market Rent (FMR) in Hot Spring County?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 94 | 46 percent |
| One BR | 163 | 71 percent |
| Two BR | 606 | 60 percent |
Rental Units Below FMR in Hot Spring County, Arkansas
How many affordable rental units are in Hot Spring County?
There are a variety of federal affordable housing programs serving households in Hot Spring County, Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly | |
| Section 811 Supportive Housing for Persons with Disabilities | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Hot Spring County, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Hot Spring County, Arkansas
Hot Spring County features 326 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Hot Spring County, Arkansas
There are 56 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hot Spring County.
Housing Choice Vouchers in Hot Spring County, Arkansas
On average, Section 8 Housing Choice vouchers pay Hot Spring County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Hot Spring County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hot Spring County, Arkansas for a two-bedroom apartment is between $733 and $895.
Sourced from federal housing data and AffordableHousingOnline.com research.