NAICS 23

Construction in Hot Springs, AR

Metro Market Score 36.8 (Moderate), ranked #77 of 342 metros. 377 establishments, 2,008 jobs.

Metro Market Score 36.8

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Moderate

ⓘ Lower is better. Relative to national construction average.

Labor costs are a clear advantage in Hot Springs's construction sector. The wage competitiveness index of 0.3 puts it among the lowest-cost metros, and wage pressure at 34.5 suggests that gap is holding steady.

Industry Concentration

56.1

LQ: 1.01

Rank #192 of 342 metros

Wage Competitiveness

0.3

$51,159 avg wage

Growth Trend

47.4

Employment growth index

Rank #181 of 342 metros

Wage Pressure

34.5

YoY wage change index

377 Construction Firms in Hot Springs

377

Establishments

+2.2% YoY

2,008

Total Employment

+1.6% YoY

$51,159

Average Annual Wage

+4.7% YoY

1.01

Location Quotient

Above national avg

Within Arkansas

#1 of 5

construction metros in state

Arkansas state rank

#8 of 51

for construction entry risk

vs State Median

-1.7

better than median (38.5)

Hot Springs vs Arkansas Statewide

How this metro's construction market compares to Arkansas overall. The state ranks #8/51 for entry risk.

Measure	Hot Springs	AR Statewide
Overall Score	36.8 Moderate	34.3 Moderate
Score Type	Metro Market Score	Entry Risk Score
Rank	#77 of 342 metros	#8 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Hot Springs

Information 22.1 Other Services 22.9 Administrative and Support Services 30.4 Professional, Scientific, and Technical Services 35.5 Real Estate and Rental and Leasing 40.3 Finance and Insurance 53.0 Accommodation and Food Services 62.0 Healthcare and Social Assistance 66.8 Retail Trade 71.6

Construction in Other Arkansas Metros

Fayetteville-Springdale-Rogers 37.8 #84/342 Little Rock-North Little Rock-Conway 38.5 #91/342 Jonesboro 39.1 #98/342 Fort Smith 46.4 #159/342

Construction Metros With Similar Conditions

Metros within 5 points of Hot Springs's 36.8 score. Useful when comparing markets with comparable entry profiles.

Grants Pass, OR 36.8 #76/342 Dover, DE 36.7 #75/342 Jackson, MI 36.9 #78/342 Erie, PA 36.6 #74/342 Goldsboro, NC 36.6 #73/342 Bloomington, IN 37.2 #79/342 Ocala, FL 36.4 #72/342 Fresno, CA 37.4 #80/342 Waterloo-Cedar Falls, IA 37.4 #81/342 Spartanburg, SC 37.5 #82/342

Construction in States Bordering Arkansas

State-level entry risk for construction in adjacent states. Use this to weigh cross-border options.

Tennessee 34.8 #10/51 Texas 46.3 #29/51 Mississippi 50.8 #36/51 Oklahoma 52.2 #39/51 Louisiana 53.6 #41/51 Missouri 54.6 #43/51

Browse Construction in Other States

State-level entry risk reports for construction across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Hot Springs's construction sector, the employment growth component (52.6) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Hot Springs, AR MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment