Hot Springs, NC—28743
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hot Springs, NC
As of Oct '25, the median home price in Hot Springs, NC is $325,000, with a year-over-year change of -0.6%. This indicates that home prices in Hot Springs, NC are flat. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $325,000 | -0.6% |
| Single Family | $325,000 | -0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hot Springs, NC
Hot Springs, NC lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $900 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Hot Springs, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Hot Springs, NC is 59. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $502,000 | 6.0% |
Listing Count | 25 | 49.0% |
| Listings as % of Homes | 0.9% | 49.0% |
Days on Market | 59 | 7.0% |
Demographics — Hot Springs, NC
As of the latest ACS Survey released in 2023, Hot Springs, NC has a population of 2,370, which has increased by 19.5% over the past 5 years. Hot Springs, NC is a moderately popular place for families, as children make up 18.4% of the population. The area has a poorly educated workforce, with 17.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,370 | 19.5% |
% Under 18 | 18.4% | 10.8% |
% Seniors | 22.7% | -22.3% |
% WFH | 12.2% | -14.1% |
% w/ College Degree | 17.1% | 3.0% |
As of the latest ACS Survey released in 2023, Hot Springs, NC is a predominantly white area, with 97.0% of the population identifying as white. The white population has shrunk by 0.3% in the last 5 years. The second most common race or ethnicity in Hot Springs, NC is black, making up 1.4% of the population. Foreign-born residents account for 0.0% of the population in Hot Springs, NC, and this percentage has decreased by 100.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 97.0% | -0.3% |
% Black | 1.4% | ∞% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — Hot Springs, NC
According to HUD data as of 2023, there were 37 mortgage originations in Hot Springs, NC, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Hot Springs, NC. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 37 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 0.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Hot Springs, NC
Hot Springs, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 69 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | 4.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $450 | $900 | $1,350 |
| 2 Bedroom | N/A | N/A | $1,520 |
| 3 Bedroom | N/A | N/A | $1,950 |
| 4 Bedroom | N/A | N/A | $2,570 |
Affordability — Hot Springs, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $325,000 |
| Median Household Income | $47,300 |