Palm Springs, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Palm Springs Neighborhoods Since 2000




Palm Springs, 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 Springs Housing Market Information

With 47,371 people, 23,163 houses or apartments, and a median cost of homes of $347,999, real estate costs in Palm Springs 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 Springs, accounting for 35.83% of the city's housing units. Other types of housing that are prevalent in Palm Springs include row houses and other attached homes ( 30.40%), large apartment complexes or high rise apartments ( 22.97%), and a few mobile homes or trailers ( 5.91%).

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

There is a lot of housing in Palm Springs 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 Springs built between 1940-1969 ( 31.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.74%). There's also some housing in Palm Springs built before 1939 ( 2.87%).

Vacant housing appears to be an issue in Palm Springs. Fully 36.24% of the housing stock is classified as vacant. Left unchecked, vacant Palm Springs homes and apartments can be a drag on the real estate market, holding Palm Springs 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 Springs Home Appreciation Rates

Real estate appreciation rates in Palm Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.11% during the period.

Appreciation rates are so strong in Palm Springs that despite a nationwide downturn in the housing market, Palm Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Palm Springs appreciation rates continue to be some of the highest in America, at 6.75%, which is higher than appreciation rates in 79.66% 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 Springs. Palm Springs appreciation rates in the latest quarter were at 2.02%, which equates to an annual appreciation rate of 8.32%.

Importantly, this makes Palm Springs 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 Springs's latest annual appreciation rate is lower 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 Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palm Springs - 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 Springs real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$347,999

Palm Springs, CA HOME PRICES

Value Range
> $1,323,000 3.6
$992,001 - $1,323,000 4.4
$662,001 - $992,000 12.4
$529,001 - $662,000 9.7
$397,001 - $529,000 16.3
$264,001 - $397,000 20.5
$132,001 - $264,000 16.7
$66,001 - $132,000 6.0
$0 - $66,000 10.4

Low for CA
Very High for Nation

Value Relative to Nation Value Relative to State
12.3579046056487 60.4497354497355

Number Of Homes And Apartments:
23,163

Palm Springs 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
123.66% 4.78% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,146 / per month

Homeownership Rate

Homeownership
Owners 55.89
Renters 44.11
Vacant 36.24

Housing Market Details

 

Age of Homes

AGE OF Palm Springs HOMES
2000 or Newer 10.7
1970 - 1999 55.3
1940 - 1969 31.1
1939 or Older 2.9

Types of Homes

TYPE OF Palm Springs HOMES
Single-Family 35.8
Townhomes 30.4
Small Apt. Buildings 4.9
Apt. Complexes 23.0
Mobile Homes 5.9
Other 0.0

Home Size

SIZE OF Palm Springs HOMES
No Bedroom 4.08
1 Bedroom 18.79
2 Bedrooms 41.26
3 Bedrooms 27.64
4 Bedrooms 7.25
5 or more bedrooms 0.98