Hot Springs County, Wyoming: commercial real estate data.
Hot Springs County, Wyoming has a population of 4,620 across 2,004 square miles, up 0.1 percent since the 2020 census base. County output reached $301.2 m in 2024, 182 establishments operate here, and the SBA record carries 6 7(a) approvals worth $6.1 m.
110 sourced county values · tier FULL · 10 sections
Hot Springs County
How many people live in Hot Springs County
- Population4,620
- Households2,140
- Average household size2.16
- Median household income$61,250
- Median age43.3
- Median gross rent$887 per month
- Median owner-occupied home value$227,500
- Home value to household income3.7 times
- Annual rent as a share of median income17.4 percent
- Adults 25 and over with a bachelor degree or higher26.7 percent
- Adults 25 and over with a graduate degree9.9 percent
- Adults 25 and over3,266
- Population under 181,042
- Share under 1822.6 percent
- Population 65 and over1,211
- Share 65 and over26.2 percent
- Working age population, 18 to 642,367
- Civilian labor force2,071
- Unemployment rate2.9 percent
- Labor force participation, adults 18 and over57.9 percent
- Rank by population among Wyoming counties22nd of 23
- Rank by population among US county-equivalents2927th
Hot Springs County is the 22nd largest of 23 Wyoming counties by population. A median home costs 3.7 times median household income, which is an affordable ownership market by national standards. Residents 65 and over outnumber those under 18, at 26.2 percent against 22.6 percent, which points demand at health care, services and single storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Hot Springs County
Is Hot Springs County growing
- Population change since the 2020 census base0.15 percent
- Census 2020 base population4,618
- Births, 202439
- Deaths, 202479
- Natural change, 2024-40
- Net domestic migration, 202414
- Net international migration, 20240
- Total net migration, 202414
- Cumulative net domestic migration, 2021 to 2024196
- Rank by growth among US county-equivalents1774th
The county has grown 0.15 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Hot Springs County
Where people moving to Hot Springs County come from
- Tax returns filed by households arriving153
- People arriving, from those returns283
- Adjusted gross income arriving$11.1 m
- Net adjusted gross income movement$0
- Average income of an arriving household$72,575
- Largest single originHot Springs County Non-migrants (1,653 households)
- Largest single destination (1,653 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Hot Springs County Non-migrants | 1,653 | 3,338 | $107.8 m |
| Other flows - Different State | 95 | 184 | $7.1 m |
| Other flows - West | 72 | 136 | $4.9 m |
| Other flows - Same State | 58 | 99 | $4.0 m |
| Other flows - Midwest | 23 | 48 | $2.2 m |
The largest single source of arrivals is Hot Springs County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Hot Springs County
What the Hot Springs County economy runs on
- County GDP, 2024$301.2 m
- County GDP, 2023$295.9 m
- GDP change, 2023 to 20241.8 percent
- GDP change over five years7.5 percent
- Rank by GDP among Wyoming counties22nd
- Rank by GDP among US county-equivalents2698th
- GDP per resident$65,197
Output grew 1.8 percent in the latest year and 7.5 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Hot Springs County
Who employs people in Hot Springs County
- Covered employment, annual average1,924
- Establishments reporting262
- Average annual pay$46,637
- Average weekly wage$897
- Sector 72, employment240
- Sector 72, average annual pay$17,129
- Sector 21, employment177
- Sector 21, average annual pay$76,833
- Sector 44-45, employment136
- Sector 44-45, average annual pay$34,706
- Sector 31-33, employment117
- Sector 31-33, average annual pay$35,810
- Sector 23, employment83
- Sector 48-49, employment75
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 72 | 240 | 20 | $17,129 |
| Sector 21 | 177 | 14 | $76,833 |
| Sector 44-45 | 136 | 17 | $34,706 |
| Sector 31-33 | 117 | 8 | $35,810 |
| Sector 23 | 83 | 24 | $48,000 |
| Sector 48-49 | 75 | 10 | $65,325 |
| Sector 71 | 71 | 8 | $23,486 |
| Sector 54 | 62 | 31 | $57,872 |
The largest sector is the biggest private employer group at 240 jobs, 12.5 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Hot Springs County
What businesses operate in Hot Springs County
- Establishments, all industries182
- Employment at those establishments1,424
- Annual payroll$73.9 m
- Establishments per 1,000 residents39.4
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Hot Springs County
What is being built in Hot Springs County
- Housing units authorised by permit, 20240
- Declared construction value permitted$0
- Single family units authorised0
- Multifamily units authorised0
No residential units were authorised by permit in 2024. In a small county this is common and is not by itself a sign of distress, but it does mean there is no recent residential pipeline to read demand from.
US Census Bureau, Building Permits Survey, 2024 annual.
Hot Springs County
How much SBA lending happens in Hot Springs County
- 7(a) approvals recorded6
- 7(a) gross approval dollars$6.1 m
- Average 7(a) approval$1,012,117
- Median 7(a) approval$203,800
- 10th percentile approval$34,900
- 90th percentile approval$5,000,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)68
- Jobs per approval11.3
- Distinct 7(a) lenders active2
- Distinct industries receiving approvals4
- Median 7(a) term180 months
- Share of loans on real estate terms, 240 months or longer33.3 percent
- Loans on real estate terms2
- Loans on working capital terms, 120 months or shorter3
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countFarm Supplies Merchant Wholesalers (3)
- Most active lenderBank of Bridger National Association (5)
- 504 approvals recorded1
- 504 gross approval dollars$496,000
- Average 504 approval$496,000
- Median 504 approval$496,000
- Distinct CDCs active1
- 504 jobs per approval10.0
- 504 jobs per million dollars approved20.2
- Most active CDCWyoming Capital Access (1)
- 7(a) share of SBA approvals85.7 percent
- Combined SBA approval dollars$6.6 m
The average approval of $1,012,117 sits well above the median of $203,800, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. 33.3 percent of approvals run on real estate terms of 240 months or more, so this is a market where SBA credit is buying buildings, not just funding operations.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Hot Springs County
Do SBA loans in Hot Springs County get paid back
- Loans with a final outcome recorded3
- Paid in full2
- Charged off1
- Status: Charged off1
- Status: Paid in full2
- Status: Exempt from disclosure3
Too few loans have reached a final outcome to publish a charge off rate. only 3 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Hot Springs County
How big is Hot Springs County
- Land area2,004 sq mi
- Rank by land area among Wyoming counties23rd of 23
- Width, east to west85.8 mi
- Height, north to south42.8 mi
- Geographies sharing a boundary3
- Residents per square mile of land2
- Establishments per square mile0.09
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Hot Springs County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Hot Springs County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population4,620
- Households2,140
- Average household size2.16
- Median household income$61,250
- Median age43.3
Common questions
Hot Springs County questions, answered from the record.
How many people live in Hot Springs County, Wyoming?
4,620, in 2,140 households, ranking 22nd of 23 Wyoming counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Hot Springs County growing?
The population has grown 0.15 percent since the 2020 census base. In 2024 there were 39 births against 79 deaths, with net migration of 14. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Hot Springs County?
$61,250. The median owner-occupied home is valued at $227,500, which is 3.7 times income, and median gross rent is $887 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Hot Springs County?
182 establishments, employing 1,424 people with an annual payroll of $73.9 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Hot Springs County?
Average annual pay is $46,637, or $897 a week, across 1,924 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Hot Springs County?
6 7(a) approvals totalling $6.1 m since FY2020, across 2 lenders, with a median approval of $203,800, plus 1 504 approvals worth $496,000. These are approvals recorded in the release, not loans disbursed.
What is being built in Hot Springs County?
No residential units were authorised by permit in 2024. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Hot Springs County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Hot Springs County come from?
The largest single origin is Hot Springs County Non-migrants, with 1,653 households. Arriving households report an average income of $72,575 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Hot Springs County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Hot Springs County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.