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Advertise here →Hot Springs, SD · Market Data
Hot Springs, South Dakota real estate market data.
Real estate market data for Hot Springs, SD (Fall River County) — Census median home value $168,200, county listing prices up about 13.1% over the past year.
Hot Springs, SD is in Fall River County, South Dakota — covering the whole local market here: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 3,506, with a median household income of $49,688. Census data puts Hot Springs's median home value at $168,200.
At a glance
Hot Springs market snapshot
Population
3,506
Median Household Income
$49,688
Median Home Value (city)
$168,200
Median Gross Rent
$854/mo
Price Trend (YoY)
+13.1%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. Full source list ↗
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What makes Hot Springs different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Hot Springs's median home value — across all owner-occupied homes, not just recent sales — at $168,200.
County Price Trend
Fall River County's FHFA house price index shows a 13.05% annual change in 2025.
Population & Income
Hot Springs has an estimated population of 3,506 and a median household income of $49,688, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Hot Springs's Census-reported median home value works out to about 3.4x the area's median household income, and median gross rent runs roughly 21% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
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Common questions
Hot Springs FAQ
What are home values like in Hot Springs, SD?
The Census Bureau's American Community Survey puts Hot Springs's median home value at $168,200.
What is the population of Hot Springs, SD?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Hot Springs's population at approximately 3,506.
What's the median rent in Hot Springs, SD?
The Census ACS estimates median gross rent in Hot Springs at approximately $854 per month.
What is the median household income in Hot Springs, SD?
Census ACS data puts the median household income in Hot Springs at approximately $49,688.
Is the Hot Springs housing market growing?
Fall River County's FHFA house price index shows a 13.05% annual change in 2025.
Is Hot Springs, SD affordable relative to income?
Census ACS data puts Hot Springs's median home value at about 3.4 times the median household income, with median gross rent equal to roughly 21% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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