Similar to nearby areas, it is a bit less expensive compared to the entire country. Compared to the city of Knoxville however, it's a little more expensive.
Home prices
Hot Springs's median home cost is $162,100. In comparison to its nearby areas this is approximately $3,940 (2%) lower.In comparison to the US as a whole it is approximately $55,400 (25%) lower, and in comparison to the city of Knoxville it is approximately $25,800 (18%) higher.
Rents
The median monthly rent in Hot Springs is $420. This is approximately $214 (33%) lower in comparison to nearby areas.It is roughly $642 (60%) lower in comparison to the US as a whole, and in comparison to the city of Knoxville it is approximately $425 (50%) lower.
Nearby places
Marshall
Marshall is approximately 9 miles southeast from Hot Springs. The housing prices there are somewhat more expensive. The median home in Marshall is valued at $190,000, which works out to $27,900 (14%) higher than Hot Springs. Rents there are a bit less expensive. In Marshall the median rent is $397 per month, which works out to $23 (5%) lower than Hot Springs.
Mars Hill
Mars Hill is approximately 14 miles east from Hot Springs. The real estate prices there are a bit more expensive. The median home in Mars Hill is valued at $206,800, which is $44,700 (21%) higher than Hot Springs. Its rents are substantially more expensive. The median rent in Mars Hill is $769 a month, which works out to $349 (45%) higher than Hot Springs.
Parrottsville
Parrottsville is roughly 15 miles northwest from Hot Springs. The real estate prices there are substantially less expensive. The value of the median home in Parrottsville is $62,500, which works out to $99,600 (159%) lower than Hot Springs. Rents there are a lot more expensive. Parrottsville's median rent is $625 per month, which is $205 (32%) higher than Hot Springs.
Newport
Newport is about 18 miles west from Hot Springs. Its real estate prices are substantially less expensive. The median home cost in Newport is $90,100, which is $72,000 (79%) lower than Hot Springs. The rent there is a little more expensive. In Newport the median rent is $484 per month, which works out to $64 (13%) higher than Hot Springs.
Weaverville
Weaverville is approximately 19 miles southeast from Hot Springs. Its real estate prices are a lot more expensive. The cost of the median home in Weaverville is $280,800, which works out to $118,700 (42%) higher than Hot Springs. Its rents are substantially more expensive. Weaverville's median rent is $897 per month, which works out to $477 (53%) higher than Hot Springs.
