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, Arkansas, Continued...