Average Salary in Hot Springs, Arkansas
$45000
$42000
2%
What is the Average Salary in Hot Springs, Arkansas?
The average salary in Hot Springs, Arkansas is $45000 per year. Entry-level positions start at $34000, mid-career professionals earn around $45000, and senior-level employees make $58000. The median household income is $42000.
Quick Salary Overview for Hot Springs
| Average Salary: | $45000 |
| Entry-Level: | $34000 |
| Mid-Career: | $45000 |
| Senior-Level: | $58000 |
| Median Household Income: | $42000 |
How Hot Springs Stacks Up
Average Salary
$45000
Competitive for Arkansas markets
Adjusted Value
$47619
After cost of living adjustment
Home Prices
$335000
Median home value
Job Growth
2%
Annual employment expansion
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Understanding the Salary Landscape in Hot Springs, Arkansas
If you’re considering a career move to Hot Springs, understanding the local salary landscape is crucial for making informed decisions. With a population of 38000 and an average salary of $45000, Hot Springs offers competitive compensation across various industries.
The median household income in Hot Springs stands at $42000, reflecting the earning potential for families in the area. When adjusted for the cost of living index of 94.5, the real purchasing power translates to approximately $47619 annually.
Salary Breakdown by Experience Level in Hot Springs
Career progression in Hot Springs shows clear salary advancement opportunities across different experience levels:
The salary progression from entry-level to senior positions shows strong growth potential, with mid-career professionals earning approximately $45000 and senior-level employees commanding salaries around $58000. For comparison with neighboring states, check out average salaries in Alabama or salaries in Oklahoma.
Top Industries and Employers in Hot Springs
Hot Springs has a diverse economic landscape with several thriving industries driving job growth and competitive salaries:
Highest Paying Industry
Healthcare
The Healthcare sector offers the most competitive salaries in Hot Springs, attracting top talent and driving economic growth in Arkansas.
Major Industries in Hot Springs:
Tourism, Healthcare, Entertainment
Major Employers Hiring in Hot Springs
Some of the largest employers in Hot Springs include: CHI St. Vincent, Oaklawn Racing, National Park Medical. These companies offer competitive salaries and comprehensive benefits packages, contributing to the city’s robust job market with a job growth rate of 2%.
Cost of Living in Hot Springs: What Your Salary Can Buy
Understanding how far your salary goes in Hot Springs requires analyzing the local cost of living. With a cost of living index of 94.5 (where 100 is the national average), Hot Springs offers good value for money in Arkansas.
Housing
$335000
$1495/month
108
Transportation
104
Groceries
106
Healthcare
98
Monthly Living Costs
$2240
$4885
With housing costs representing a housing index of 108 and an average monthly rent of $1495, Hot Springs provides affordable living options. The median home price of $335000 and estimated monthly necessities of $2240 for a single person or $4885 for a family should be factored into your financial planning.
Job Market and Employment Trends in Hot Springs
The job market in Hot Springs shows promising signs with a job growth rate of 2% and an unemployment rate of 4.8%. This indicates a healthy economy with expanding opportunities for job seekers across Arkansas.
For professionals exploring opportunities across the state, our comprehensive Arkansas salary guide provides detailed comparisons to help you identify the best locations for your career growth.
Demographics and Workforce Profile
Hot Springs has a median age of 42.5 years, with 24.5% of the population holding a college degree. This educated workforce contributes to the city’s competitive salary landscape and attracts employers seeking skilled talent. For similar regional opportunities, explore salary data in Tennessee.
Key Takeaways About Salaries in Hot Springs
- š° The average salary in Hot Springs is $45000, with median household income at $42000
- š When adjusted for cost of living (94.5), salaries have approximately $47619 in purchasing power
- šÆ Healthcare is the highest-paying industry, offering premium compensation packages
- š¢ Major employers like CHI St. Vincent, Oaklawn Racing, National Park Medical provide stable career opportunities
- š The city shows 2% job growth with 4.8% unemployment rate
- š Housing costs include median home prices at $335000 and average rent at $1495
- šµ Monthly living costs: $2240 (single) | $4885 (family)
- š 24.5% of the population holds college degrees, indicating a skilled workforce
Making Your Decision: Is Hot Springs the Right Career Move?
Hot Springs offers a compelling combination of competitive salaries, growing job opportunities, and Arkansas’s affordable lifestyle. With an average salary of $45000 and a cost of living index of 94.5, professionals can enjoy a comfortable standard of living while building their careers.
The city’s 2% job growth rate and 4.8% unemployment rate signal a thriving economy with expanding opportunities across multiple industries, particularly in Tourism, Healthcare, Entertainment.
Whether you’re an entry-level professional earning around $34000 or a senior executive commanding $58000, Hot Springs provides the economic foundation for career growth and financial stability in Arkansas.
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Hey there! Iām Kumar, the owner of DollarHire. Alongside working as an Executive SEO Specialist, I studied at a finance institute to strengthen my skills in finance and marketing.