Almost 70% of Hot Springs County's 2,000 square miles is public land.  Only 31% (404,619 acres) of the County's 1,294,080 acres is taxable:  48,640 acres are National Forest, 519,000 acres are Bureau of Land Management, 242,320 acres are Wind River Indian Reservation and US in-trust lands, and 80,501 acres belong to the State of Wyoming.

The Big Horn River marks most of the eastern limit of the Town of Thermopolis, until it enters the ten square miles of Hot Springs State Park, on the northeastern quadrant of the town.  

The Burlington Northern and Santa Fe Railroad angles through the eastern section of town.