Hot Springs, MT
Population 558 · Montana
About Hot Springs, MT
Hot Springs is a small community located in Montana with a population of 558 residents according to the latest US Census Bureau American Community Survey data. The median household income is $21,319 per year, which is 72% below the national median of $75,149. The median age of 53.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Hot Springs features a median home value of $139,100, which is 43% below the national median of $244,900. This makes Hot Springs one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $683, 41% below the national average of $1,163/month. Of the 357 total housing units, 61% are owner-occupied (167 units) and 39% are renter-occupied (106 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Hot Springs shows an unemployment rate of 10.5%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 23.7%, above the national average of 12.4%. Workers in Hot Springs have an average one-way commute time of 14.6 minutes, one of the shorter commutes in the region.
Education & Demographics
14.7% of Hot Springs residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.5% White, 7.5% Hispanic or Latino, 0.0% Black or African American, and 4.3% Asian residents, with 1.8% of the population being foreign-born.
Cost of Living in Hot Springs, MT
Compared to national averages, Hot Springs has a median household income of $21,319 (72% below the national median of $75,149). Home values average $139,100, which is 43% below the national median. Monthly rent at $683 is 41% below the US average of $1,163. Within Montana, Hot Springs's income is 68% below the state average of $65,821, and home values are 52% below the state median of $288,703.
Why Live in Hot Springs, MT?
Hot Springs offers affordable housing with a median home value of $139,100, below the US average of $244,900, and rent that’s lower than the national average at $683/month, and short commute times averaging just 14.6 minutes.
Potential considerations include median household income ($21,319) that falls below the national average. However, Hot Springs’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hot Springs has a population of 558 with a median age of 53.9 years. Compare Hot Springs with other cities to see how it stacks up, or explore all cities in Montana.
Similar Cities Near Hot Springs
Cities in Montana with a similar population size.
Demographics
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Economy & Education
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Other Cities in Montana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Hot Springs
What is the population of Hot Springs, MT?
The population of Hot Springs, MT is 558 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Montana.
What is the median household income in Hot Springs?
The median household income in Hot Springs, MT is $21,319 per year, which is 72% below the national median of $75,149.
What is the median home value in Hot Springs?
The median home value in Hot Springs, MT is $139,100, which is 43% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hot Springs?
The median monthly rent in Hot Springs, MT is $683, which is 41% below the national average of $1,163/month.
What is the unemployment rate in Hot Springs?
The unemployment rate in Hot Springs, MT is 10.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hot Springs, MT a good place to live?
Hot Springs offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 558 and a median age of 53.9, the city appeals to established professionals and retirees.
How educated is Hot Springs, MT?
14.7% of residents in Hot Springs aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Hot Springs?
Key cost-of-living indicators for Hot Springs, MT: median home value is $139,100 (43% below national), median rent is $683/month, and median household income is $21,319. The home-value-to-income ratio is 6.5x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Hot Springs?
The poverty rate in Hot Springs, MT is 23.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Hot Springs, MT?
Hot Springs's population is 0.5% White, 7.5% Hispanic or Latino, 0.0% Black or African American, 4.3% Asian, and 0.4% two or more races. 1.8% of residents are foreign-born.