Living in Hot Springs, Virginia
Cost of living, income, home prices, rent and demographics of Hot Springs · Census data 2020–2024
Hot Springs has 487 residents with a median age of 60.3. The median household income is $104,545 (12% higher than the Virginia median), the median home value is $260,100, the median rent is $876/month.
Hot Springs is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Hot Springs at a glance
- Population
- 487
- Median age
- 60.3State: 39
- Median household income
- $104,545State: $93,170
- Median home value
- $260,100State: $383,700
- Median rent
- $876/moState: $1,579
- Homeowners
- 74.2%
- Bachelor's degree or higher
- 15.7%
- Average commute
- 11 min
Is Hot Springs a good place to live?
Pros: Median household income 12% higher than the Virginia median; home values 32% lower than the state median; an average commute of 11 minutes; unemployment of 1.8%.
Cons: A poverty rate of 16.4%.
The weather is best in June to September.
Cost of living in Hot Springs
Housing is the biggest part of the cost of living. In Hot Springs the median home value is $260,100, 22% lower than the U.S. median. Renters pay a median of $876 per month, which is 19.5% of household income. Homeowners with a mortgage pay $1,783 a month in housing costs.
Hot Springs median household income
The median household income in Hot Springs is $104,545 and the income per person is $45,577. 16.4% of residents live below the poverty line (Virginia: 9.9%).
Housing in Hot Springs: homes for sale and rent
- Housing units
- 555
- Owner-occupied
- 74.2%
- Renter-occupied
- 25.8%
- Vacant
- 57.5%Includes seasonal homes
- Median year built
- 1973
- Average household size
- 1.90
57.5% of homes are vacant most of the year, a sign that Hot Springs has many vacation and second homes.
Hot Springs demographics
- Population
- 487
- Median age
- 60.3
- Under 18
- 2.9%
- 65 and older
- 37.2%
- Households
- 236
- Foreign-born
- 0%
- Veterans
- 12.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Hot Springs ›
Education in Hot Springs
15.7% of adults 25 and older in Hot Springs have a bachelor's degree or higher (Virginia: 42.2%), and 6% have a graduate or professional degree.
Jobs and commute in Hot Springs
- Unemployment rate
- 1.8%State: 4.3%
- Average commute
- 11 minState: 27 min
- Work from home
- 5.4%
- Drive alone
- 92.8%
- Public transit
- 0%
- Walk to work
- 1.8%
- Homes with broadband
- 80.5%
Hot Springs vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Hot Springs | 487 | $104,545 | $260,100 | $876 |
| Clifton Forge | 3,447 | $40,000 | $109,500 | $592 |
| Iron Gate | 426 | $70,000 | $84,600 | $715 |
| Low Moor | 430 | $44,900 | $99,000 | — |
| Goshen | 271 | $45,000 | $136,100 | $750 |
| Covington | 5,680 | $41,944 | $83,500 | $794 |
| Mallow | 537 | $50,347 | $110,100 | — |
| Callaghan | 198 | $74,271 | $141,700 | $575 |
| Marlinton | 1,201 | $37,273 | $93,900 | $722 |
More for people moving to Hot Springs
Hot Springs ZIP code ›Weather and climate ›Living in Hot Springs: FAQ
What is the median household income in Hot Springs, VA?
The median household income in Hot Springs is $104,545, 12% higher than the Virginia median of $93,170 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Hot Springs?
The median home value in Hot Springs is $260,100, compared with $383,700 in Virginia.
How much is rent in Hot Springs?
The median gross rent in Hot Springs is $876 per month, about 19.5% of household income.
Is Hot Springs, VA a good place to live?
Pluses: median household income 12% higher than the Virginia median; home values 32% lower than the state median; an average commute of 11 minutes; unemployment of 1.8%. Minuses: a poverty rate of 16.4%.
What is the median age in Hot Springs?
The median age in Hot Springs is 60.3 years (Virginia: 39).
How long is the commute in Hot Springs?
The average commute to work in Hot Springs is 11 minutes; 5.4% of workers work from home.
What is the unemployment rate in Hot Springs?
The unemployment rate in Hot Springs is 1.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Hot Springs?
15.7% of adults in Hot Springs have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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