Commercial Real Estate Market in Hot Springs, VA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
13 active listings and 63 off-market properties in Hot Springs, VA.
Market Trends
Hot Springs, VA spans 96.4 square miles in Bath County, Virginia. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Hot Springs, VA runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Hot Springs, VA runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Hot Springs, VA runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Hot Springs, VA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Market overview
Demographics & Economy
Hot Springs, VA has 2,289 residents in 1,701 households. Density runs 24 people per square mile. Median household income here is $61,953 and median gross rent $864 a month.
2,289
Population
1,701
Households
1.3
Avg Household Size
51
Median Age
10%
College-Educated
79%
High-School Grad
96.4 sq mi
ZIP Area
24
Density / Sq Mi
$61,953
Median Household Income
$41,042
Median Earnings
$864
Median Rent
$163,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bacova Junction | — | — |
| Healing Springs | — | — |
| Warm Springs | — | — |
| Bacova | — | — |
Frequently Asked Questions
Where does Realmo's Hot Springs market data come from?
Realmo compiles Hot Springs, VA figures from 2 recent recorded sales, 13 active sale listings, 63 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 13 active for-sale and 0 active for-lease listings in Hot Springs, VA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
