Palm Desert, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Palm Desert Neighborhoods Since 2000




Palm Desert, CA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Palm Desert Housing Market Information

With a population of 51,869, 23,925 total housing units (homes and apartments), and a median house value of $446,483, real estate costs in Palm Desert are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

Single-family detached homes are the single most common housing type in Palm Desert, accounting for 42.25% of the city's housing units. Other types of housing that are prevalent in Palm Desert include row houses and other attached homes ( 22.76%), large apartment complexes or high rise apartments ( 17.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.35%).

People in Palm Desert primarily live in small (one, two or no bedroom) single-family detached homes. Palm Desert has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Palm Desert built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Palm Desert built between 2000 and later ( 15.96%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.87%).

A decent proportion of the Palm Desert housing stock is seasonally occupied. That is, homes and condos in Palm Desert are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Palm Desert housing market speaks to its popularity as a vacation location of choice.

Palm Desert Home Appreciation Rates

Palm Desert's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Palm Desert during the period has been just -1.76%, which is lower than 80% of US communities.

Appreciation rates are so strong in Palm Desert that despite a nationwide downturn in the housing market, Palm Desert real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Palm Desert appreciation rates continue to be some of the highest in America, at 5.93%, which is higher than appreciation rates in 73.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Palm Desert. Palm Desert appreciation rates in the latest quarter were at 2.02%, which equates to an annual appreciation rate of 8.32%.

Importantly, this makes Palm Desert one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to California, our data show that Palm Desert's latest annual appreciation rate is lower than 80% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Palm Desert differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palm Desert - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Palm Desert real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$446,483

Palm Desert, CA HOME PRICES

Value Range
> $1,270,000 4.1
$953,001 - $1,270,000 3.2
$635,001 - $953,000 12.8
$508,001 - $635,000 12.7
$381,001 - $508,000 22.7
$254,001 - $381,000 21.4
$127,001 - $254,000 14.9
$64,001 - $127,000 3.1
$0 - $64,000 5.1

Average for CA
Very High for Nation

Value Relative to Nation Value Relative to State
7.5354506035392 47.0899470899471

Number Of Homes And Apartments:
23,925

Palm Desert Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
81.03% 3.50% 5 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,432 / per month

Homeownership Rate

Homeownership
Owners 60.66
Renters 39.34
Vacant 39.24

Housing Market Details

 

Age of Homes

AGE OF Palm Desert HOMES
2000 or Newer 16.0
1970 - 1999 71.7
1940 - 1969 11.9
1939 or Older 0.4

Types of Homes

TYPE OF Palm Desert HOMES
Single-Family 42.2
Townhomes 22.8
Small Apt. Buildings 10.3
Apt. Complexes 17.2
Mobile Homes 7.3
Other 0.1

Home Size

SIZE OF Palm Desert HOMES
No Bedroom 4.24
1 Bedroom 10.18
2 Bedrooms 43.38
3 Bedrooms 32.14
4 Bedrooms 9.10
5 or more bedrooms 0.96