Palm Desert, CA Housing Market Trends
With 51,951 people, 24,145 houses or apartments, and a median cost of homes of $713,077, 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 38.16% of the city's housing units. Other types of housing that are prevalent in Palm Desert include row houses and other attached homes ( 29.76%), large apartment complexes or high rise apartments ( 15.58%), and a few mobile homes or trailers ( 9.26%).
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 ( 16.81%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.83%).
Vacant housing appears to be an issue in Palm Desert. Fully 34.00% of the housing stock is classified as vacant. Left unchecked, vacant Palm Desert homes and apartments can be a drag on the real estate market, holding Palm Desert real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Palm Desert Home Appreciation Rates
Appreciation rates for homes in Palm Desert have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.65%, which ranks in the top 40% nationwide. This equates to an annual average Palm Desert house appreciation rate of 7.58%.
Over the last year, Palm Desert appreciation rates have trailed the rest of the nation. In the last twelve months, Palm Desert's appreciation rate has been 6.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palm Desert were at 1.46%, which equates to an annual appreciation rate of 5.98%.
Relative to California, our data show that Palm Desert's latest annual appreciation rate is higher than 60% 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.
Median Home Value
$713,077
Average
for California
Very High
for nation
Number of Homes And Apartments:
24,145
CA
America
2024 Q3 - 2024 Q4
2023 Q4 - 2024 Q4
2022 Q4 - 2024 Q4
2019 Q4 - 2024 Q4
2014 Q4 - 2024 Q4
2000 Q1 - 2024 Q4
Average Market Rent:
$3,216 / per month