Rent to own Homes in Hot Springs, AR
Hot Springs, Arkansas is located deep within the Ouachita Mountains, which could explain the many natural hot springs surrounding the area, and what gave this little town its name. Known as the "City Built on Fun," Hot Springs offers more than just "healing waters" and hot baths. In the center of this quiet southern town of 35,000 stands the oldest Federal Reserve in the United States, which is maintained as part of Hot Springs National Park. This quaint little town observes "Autumn" as a reason to celebrate. With the fall colors so abundant, it makes perfect sense! And it's no stranger to the cultural arts and theatre so common to bigger cities. Hot Springs has it all!
Hot Springs, AR is a great place for affordable rent-to-own homes! With a median household income of over $40,125 and a median rent of $749, the Hot Springs, AR rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Hot Springs, AR. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Hot Springs, AR
Neighborhoods in Hot Springs, AR
Central Historic District rent to own homes Pleasant Historic District rent to own homes Entertainment District rent to own homes Downtown Hot Springs rent to own homesPopular Zip Codes in Hot Springs, AR
71903 rent to own homes 71902 rent to own homes 71913 rent to own homesBuying a Home in Hot Springs, AR
Hot Springs, AR is seeing rapid growth and Hot Springs, AR's' housing market remains optimal with an average home price that is -41% below the 2024 national average. Hot Springs, AR is part of Garland county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Garland is 0.46% which is below the national average, which is 0.99%.
Median Home Price in Hot Springs, AR
Median Rent in Hot Springs, AR
Top 5 Reasons Live in Hot Springs, AR
A bathhouse and hot springs! Fordyce Bathhouse is a historic site, part of what was known as Bathhouse Row. It's been updated, but it still holds that old bath house charm. It is now a museum and Hot Springs National Park. For those who want to take a traditional bath, try Buckstaff Baths for the traditional European spa experience famous in the early 1900s. Don't forget to visit Hot Springs Mountain for an outdoor hot springs experience,
Magic shows around town! Visit the Theater of Magic for trickery, courtesy of master illusionist Maxwell Blade. Located in historic Hot Springs, Blade has a passion for sharing his magical illusions, as well as saluting other great magicians of the past. You can catch a show every night during the summer months. Another spectacle can be seen from high above -- just head over to the Hot Springs Mountain Tower for a magical experience and see the town and surrounding scenery from 1200 feet high.
Rising home values! Even though Hot Springs is known as one of the most desirable retirement areas in the US, it's got plenty of excitement for the younger generation as well. Real estate prices are rising, so if you want to get your property in this amazing area, do it quickly. The average sales price in late 2014 was $240,657. If you find your dream home, consider negotiating a rent to own situation, or find a nice rental until you find your dream home. Realtors in the area, such as Hot Springs Village Realtors and Hot Springs Realty, can help you find the perfect place to settle in.
Rentals on the market! If you're shy about buying that home outright, consider renting a home in this highly desirable area to get a feel for it. Rentals in Hot Springs are plentiful and affordable. A three-bedroom, two-bathroom home can be rented for $1,000 a month and up. Check with the local property management company, Hot Springs Property Management, for homes that may not be listed in the paper or online, or for their special exclusive properties. Forrest Hills and The Pointe are two popular rental apartment complexes in town.
Historic Baseball Trail here! Plans to visit Fogel Field already? Consider taking a tour on the historic Baseball Trail, where you are promised a trip back in time. Hot Springs housed some of baseball's legends while they stayed in town for spring training. Through stories and photographs, the history of baseball comes alive for visitors. Or just hike along the trail enjoying the scenery!