There are currently 1,212 real estate properties in Hot Springs, NC, with a median automated valuation model (AVM) price of $290,516.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Hot Springs, NC, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Hot Springs, NC, is $389,584.00, with the most expensive house in Hot Springs, NC, topping out at $7,485,380.00 and the cheapest home in Hot Springs, NC, clocking in at $30,640.00. In other words, there’s something for every potential homebuyer or savvy investor in Hot Springs, NC!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Hot Springs, NC, is on a rollercoaster ride. The average rent price in Hot Springs, NC, is $1,273.00. Indeed, when looking to rent in Hot Springs, NC, you can expect to pay as little as $550.00 or as much as $2,430.00, with the average rent median estimated to be $1,270.00. The good news is that finding an affordable and desirable property to rent in Hot Springs, NC -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Hot Springs is located in Madison, North Carolina, with an estimated municipal population of 577 residents. All of the best foreclosed homes for sale in Hot Springs are located in the following zip code areas on Foreclosure.com: 28743 28753. The estimated population per square kilometer (.62 miles) in Hot Springs is 71.
So, about how much do homes cost in Hot Springs? The most recent median value of resident-owned homes in Hot Springs is 162,280. An estimated 63.2 percent of households in Hot Springs own their homes, with an average family size of 2.65. The median household income in Hot Springs is 40,156, with10.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Hot Springs, the median commute time of resident workers (in minutes) is 20.6. And last, but certainly not least, are you looking for homes to rent in Hot Springs? If so, the average rent price paid by renters in Hot Springs is 420, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Hot Springs, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Hot Springs is 43.8, split between 44.7 percent male versus 55.3 female. The percentage of residents who report being married in Hot Springs is 44, with an average family size of 2.65.
The percentage of residents who report their race in Hot Springs is as follows:
| White | 100% |
| Black / African American | 0% |
| Asian | 0% |
| American Indian / Alaskan Native | 0% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 0% |
| Other | 0% |
Looking for family-friendly neighborhoods in and/or near Hot Springs? Or maybe you are searching for 55+ active adult communities in and/or near Hot Springs?
The percentage of residents who report their age in Hot Springs is as follows:
| Under 10 | 11.1% |
| Aged 10-19 | 10.7% |
| 20s | 10.7% |
| 30s | 8.2% |
| 40s | 17.1% |
| 50s | 13.7% |
| 60s | 15.2% |
| 70s | 9.6% |
| 80+ | 3.6% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Hot Springs with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Hot Springs.
How do you know that living in -- or moving to -- Hot Springs is right where you need to be? Perhaps you grew up in Hot Springs or already live nearby; therefore, the decision to buy a home in Hot Springs is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Hot Springs for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Hot Springs:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Hot Springs.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Hot Springs can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Hot Springs, meanwhile, can field multiple offers from more qualified buyers.
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