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Real Estate Prices & Overview

Hot Springs Northwest median real estate price is $304,743, which is more expensive than 79.3% of the neighborhoods in Arkansas and 42.3% of the neighborhoods in the U.S.

The average rental price in Hot Springs Northwest is currently $950, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 88.9% of Arkansas neighborhoods.

Hot Springs Northwest is a rural neighborhood (based on population density) located in Hot Springs, Arkansas.

Hot Springs Northwest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Hot Springs Northwest neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Hot Springs Northwest. The current real estate vacancy rate here is 20.2%. This is higher than the rate of vacancies in 87.1% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Hot Springs, the Hot Springs Northwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Hot Springs Northwest neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.6% of all American neighborhoods.

People

The Hot Springs Northwest neighborhood stands out for having an average per capita income lower than 95.3% of the neighborhoods in the United States. The Hot Springs Northwest neighborhood also has a greater percentage of children living in poverty (64.5%) than found in 97.7% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

In addition, astoundingly, the Hot Springs Northwest neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 97.6% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Hot Springs neighborhood.

Also, with a nice mix of college students, safety from crime, and decent walkability, the Hot Springs Northwest neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 89.8% of the neighborhoods in AR. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Modes of Transportation

More people in Hot Springs Northwest choose to walk to work each day (11.1%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Diversity

Did you know that the Hot Springs Northwest neighborhood has more Danish and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.5% of this neighborhood's residents have Danish ancestry and 2.5% have Native American ancestry.

Hot Springs Northwest is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 95.0% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Hot Springs Northwest neighborhood in Hot Springs are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 95.3% of U.S. neighborhoods. With 64.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.7% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Hot Springs Northwest neighborhood, 45.1% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 22.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.5%), and 12.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Hot Springs Northwest neighborhood is English, spoken by 92.8% of households. Some people also speak Spanish (5.4%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Hot Springs Northwest neighborhood in Hot Springs, AR, residents most commonly identify their ethnicity or ancestry as Irish (17.0%). There are also a number of people of German ancestry (13.6%), and residents who report English roots (4.7%), and some of the residents are also of Mexican ancestry (3.3%), along with some Native American ancestry residents (2.5%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Hot Springs Northwest neighborhood spend under 15 minutes commuting one-way to work (48.8% of working residents), one of the shortest commutes across America.

Here most residents (69.5%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (11.1%) and 7.0% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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