Nestled in the Ouachita Mountains and known for its famous thermal springs, Hot Springs has long been a popular tourist destination, drawing visitors with its therapeutic baths and outdoor recreation. Here, there is a tourism-driven economy, and when combined with a relatively low cost of living, Hot Springs makes for a highly attractive market for investors who are looking to capitalize on both residential and vacation properties.
The economy in Hot Springs is largely supported by the tourism, healthcare, and education sectors. CHI St. Vincent Hot Springs and National Park Medical Center are two of the largest employers, providing a stable base of healthcare professionals who need housing. Plus, Hot Springs is home to Henderson State University's Hot Springs campus, which also contributes to the local economy and creates a demand for rental properties from students and staff.
The tourism sector is another pillar of the economy, with the historic Bathhouse Row, Hot Springs National Park, and Oaklawn Racing Casino Resort drawing hundreds of thousands of visitors annually. This robust tourism industry both supports short-term rental opportunities while also ensuring a steady influx of new visitors who may later choose to purchase vacation or retirement homes in the area.