Hot Springs real estate & short-term rental FAQ

The right time depends on your own finances and plan more than the headline market. Hot Springs draws steady demand from retirees, lake buyers and investors, and inventory has loosened from the tight pandemic years. Watch current prices and mortgage math on our live market dashboard, get pre-approved, and buy when the payment fits your budget rather than trying to time the bottom.

The median list price was about $349,900 as of November 2026, but the range is wide: small homes and condos sell well under that, while lakefront estates run into the millions. Lake Hamilton frontage carries a large premium. Check the current figure on our market dashboard before you set a budget, since it updates from the local feed.

The core city is 71901 and 71913. 71913 covers much of the Lake Hamilton corridor and is where a lot of rental and waterfront activity sits. 71909 is Hot Springs Village, a large private POA community northeast of town. Surrounding Garland County and nearby areas include 71921, 71923, 71933, 71949, 71964 and 71968. Browse by area on our neighborhoods guide.

You are not required to use one, but a local buyer's agent who works Hot Springs and the lakes every day will spot issues an out-of-area buyer misses: the city-versus-county line, dock permits, septic and well on acreage, and whether an address can be licensed as a short-term rental. The Bergeron Group covers Hot Springs and Lake Hamilton; call or text 501-463-6328, or start with our buyer's guide.

Jurisdiction changes the rules. Inside the city of Hot Springs you are subject to city zoning, the short-term rental license and the closed 400-license residential cap, plus city sales and A&P taxes on lodging. In unincorporated Garland County you are outside city limits, so the city STR license and cap do not apply. Hot Springs Village is a private property-owners association with its own rental rules set by the POA, not the city. Confirm which one an address falls under with our eligibility checker before you buy.

Not for a home in a residential zone inside the city. The city's residential STR license cap of 400 has been full since July 1, 2025, with no waitlist and no new residential licenses. You can still host without a city license on property in unincorporated Garland County, and the city still issues new licenses for eligible non-residential properties. Check any address with our free eligibility checker, then confirm with the city.

Even with the residential cap full, the city still allows new STR licenses for properties in non-residential zones (such as C-TR, C-N, C-MU, C-G, CBD, I-L, I-H and I-MU), properties on the Historic Property Registry, and condominiums recorded before January 18, 2022. This is the commercial angle: in the right zone you can still get a license. Our commercial-zone STR guide and eligibility checker show the path.

Not automatically. In the city of Hot Springs the residential STR license is tied to the owner's application and does not pass to a buyer in a sale. Never assume you inherit a seller's license. Confirm the status and your options with the city's Planning and Development office at 501-321-6905 before you close. Property in unincorporated Garland County is outside city limits, so the city license does not apply there.

The city license is annual and due January 1. The fee scales with size; the city's page describes it as $50 per bed (for example, a three-bedroom rental around $400). A certificate-of-occupancy inspection is part of the process. Confirm the current fee and requirements with the city before you rely on a number, since fees change. Our STR regulations page has more.

Inside the city, occupancy is capped at two guests per bedroom plus two, off-street parking is required, and a local manager must be able to reach the property within 60 minutes. Hosts also file the city lodging-tax form monthly, by the 20th. Rules can change, so confirm the current ones with the city. Our STR regulations and tax guide walk through them.

It can be, in the right location, with honest numbers. Hot Springs has real tourism demand from the national park, Oaklawn racing and the lakes. But the licensing cap means a residential property in the city may not be eligible at all, which can sink a deal. Start by confirming an address can be licensed, then build a projection with realistic occupancy, platform fees and the roughly 14.5% lodging taxes. Our revenue calculator and eligibility checker are the place to begin; we never promise returns.

Inside the city, stays of 29 nights or fewer carry about 14.5% in lodging taxes: 6.5% Arkansas gross receipts, 2% state tourism, 1.5% county, 1.5% city, and the 3% Hot Springs Advertising and Promotion (A&P) tax. Outside city limits the city sales and A&P taxes do not apply, but the state and county taxes still do. Our tax guide breaks down each one.

Airbnb collects and remits the state and local lodging taxes, including the Hot Springs A&P tax, on stays of 29 nights or fewer booked through it. Vrbo collects the state and local taxes and remits the A&P tax. Direct bookings through your own site or repeat guests are your responsibility to collect and file. Hosts inside the city still file the monthly city lodging form by the 20th. See the tax guide for details.

Property tax is separate from lodging tax and is handled by Garland County, based on the assessed value of your property. Arkansas also offers a homestead credit and an assessed-value cap for an owner's primary residence, which do not apply the same way to an investment property. Confirm your specific bill with the Garland County Assessor and Collector. Our property-tax page explains how it works.