Hot Springs County, Wyoming: commercial real estate data.
Hot Springs County, Wyoming had an estimated 4,625 residents on July 1, 2024, up 0.2 percent since the 2020 census base of 4,618, across 2,004 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Hot Springs County
How many people live in Hot Springs County
- Population, American Community Survey 2020-20244,620
- 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-equivalents, Puerto Rico included2927th of 3,222
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 moderately unaffordable 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 story product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Hot Springs County
Is Hot Springs County's population growing?
- Population, July 1, 20244,625
- Census 2020 base population4,618
- Population change since the 2020 census base0.15 percent
- Population change, 2023 to 2024-27
- 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 of 3,144
The county has grown 0.15 percent since the 2020 census base. Deaths exceeded births in 2024 by more than net migration added, so the population fell even though more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Hot Springs County
Where are people moving to Hot Springs County from?
- Tax returns filed by households arriving153
- People arriving, from those returns283
- Tax returns filed by households leaving109
- Net household movement44
- Adjusted gross income arriving$11.1 m
- Net adjusted gross income movement$6.3 m
- Average income of an arriving household$72,575
- Average income of a leaving household$44,248
| Origin | Households | People | Adjusted gross income |
|---|
Households arriving report $28,327 more average income than households leaving, so the migration is raising local spending power rather than just moving it around.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Hot Springs County
What is the Hot Springs County economy?
- 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 the Wyoming areas BEA publishes22nd of 23
- Rank by GDP among the US county areas BEA publishes2698th of 3,127
- 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
Employment by industry in Hot Springs County
- Covered employment, annual average1,924
- Establishments reporting262
- Average annual pay$46,637
- Average weekly wage$897
- Accommodation and food services, employment240
- Accommodation and food services, average annual pay$17,129
- Mining, quarrying, and oil and gas extraction, employment177
- Mining, quarrying, and oil and gas extraction, average annual pay$76,833
- Retail trade, employment136
- Retail trade, average annual pay$34,706
- Manufacturing, employment117
- Manufacturing, average annual pay$35,810
- Construction, employment83
- Transportation and warehousing, employment75
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Accommodation and food services | 240 | 20 | $17,129 |
| Mining, quarrying, and oil and gas extraction | 177 | 14 | $76,833 |
| Retail trade | 136 | 17 | $34,706 |
| Manufacturing | 117 | 8 | $35,810 |
| Construction | 83 | 24 | $48,000 |
| Transportation and warehousing | 75 | 10 | $65,325 |
| Arts, entertainment and recreation | 71 | 8 | $23,486 |
| Professional, scientific and technical services | 62 | 31 | $57,872 |
Accommodation and food services is the largest private sector at 240 jobs, 12.5 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Hot Springs County
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Hot Springs County
Building permits in Hot Springs County
- Housing units authorized by permit, 20240
- Declared construction value permitted$0
- Single family units authorized0
- Multifamily units authorized0
No residential units were authorized 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
SBA loans in Hot Springs County (7(a) and 504)
- 7(a) approvals recorded6
- 7(a) gross approval dollars$6.1 m
- Average 7(a) approval$1,012,117
- Median 7(a) approval$201,900
- 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) term150 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
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$6.6 m
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
SBA loan default and charge-off rates in 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
Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Hot Springs County
How large 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.
Hot Springs County
Flood risk in Hot Springs County
- Participation of the county's own NFIP community Hot Springs County, unincorporated areasParticipating, community 560097
- Communities in the county in the NFIP Community Status Book4
- Of those, participating in the NFIP4
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Hot Springs County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Hot Springs County (community 560097), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Hot Springs County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-20244,620
- 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?
The Census Bureau estimates 4,625 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has grown 0.15 percent since the 2020 census base of 4,618, to 4,625 on July 1, 2024. 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 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 employment by industry in Hot Springs County?
Accommodation and food services is the largest private sector at 240 jobs, 12.5 percent of covered employment. Covered employment averages 1,924 jobs at an average annual pay of $46,637, or $897 a week. 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 totaling $6.1 m since FY2020, across 2 lenders, with a median approval of $201,900, plus 1 504 approvals worth $496,000 since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Hot Springs County?
No residential units were authorized 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.
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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Hot Springs County
Cities and places in Hot Springs.
5 Census places lie wholly or partly in Hot Springs County. 4 carry enough published place level data for a page of their own and are linked. The rest are named here and not linked, because the American Community Survey and the SBA record between them do not carry enough about them to write an honest page. A place existing is itself worth knowing, so nothing in the county is left out.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Thermopolis | town | 2,709 | 6 | Wholly in this county |
| Lucerne | CDP | 567 | None recorded | Wholly in this county |
| East Thermopolis | town | 192 | None recorded | Wholly in this county |
| Kirby | town | 60 | None recorded | Wholly in this county |
| Owl Creek | CDP | 0 | None recorded | Wholly in this county |
Nearby