Thousand Palms, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Thousand Palms, CA Real Estate Data


Thousand Palms Housing Market Information

With 8,270 people, 2,895 houses or apartments, and a median cost of homes of $191,464, Thousand Palms real estate values are some of the lowest in California, although compared to real estate around the nation, Thousand Palms homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Thousand Palms, accounting for 55.84% of the town's housing units. Other types of housing that are prevalent in Thousand Palms include mobile homes or trailers ( 39.88%), duplexes, homes converted to apartments or other small apartment buildings ( 1.79%), and a few row houses and other attached homes ( 1.36%).

Dwellings in Thousand Palms tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.69% of the homes in Thousand Palms have two or fewer bedrooms.

There is a lot of housing in Thousand Palms 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 Thousand Palms built between 2000 and later ( 14.48%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.24%).

Vacant housing appears to be an issue in Thousand Palms. Fully 27.11% of the housing stock is classified as vacant. Left unchecked, vacant Thousand Palms homes and apartments can be a drag on the real estate market, holding Thousand Palms 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.

Thousand Palms Home Appreciation Rates

Homes have actually lost value in Thousand Palms over the last then years, as home values have seen a decline of 32.92% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Thousand Palms home appreciation rates at 1.54%, which equates to an annual appreciation rate of 6.30%.

Appreciation rates are so strong in Thousand Palms that despite a nationwide downturn in the housing market, Thousand Palms real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Thousand Palms appreciation rates continue to be some of the highest in America, at 6.26%, which is higher than appreciation rates in 77.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Thousand Palms. Thousand Palms appreciation rates in the latest quarter were at 1.54%, which equates to an annual appreciation rate of 6.30%.

Relative to California, our data show that Thousand Palms's latest annual appreciation rate is lower than 50% of the other cities and towns in California.

Average Home Values

 

Median Home Value:
$191,464

Thousand Palms, CA HOME PRICES

Value Range
> $1,434,000 0.0
$1,076,001 - $1,434,000 0.0
$717,001 - $1,076,000 1.3
$574,001 - $717,000 0.7
$430,001 - $574,000 2.0
$286,001 - $430,000 14.9
$144,001 - $286,000 50.5
$72,001 - $144,000 24.4
$0 - $72,000 6.2

Very Low for CA
High for Nation

Value Relative to Nation Value Relative to State
35.2696609474732 88.7714663143989

Number Of Homes And Apartments:
2,895

Rent & Ownership

 

Average Market Rent:
$1,373 / per month

Homeownership Rate

Homeownership
Owners 72.49
Renters 27.51
Vacant 27.11

Housing Market Details

 

Age of Homes

AGE OF Thousand Palms HOMES
2000 or Newer 14.5
1970 - 1999 76.3
1940 - 1969 9.2
1939 or Older 0.0

Types of Homes

TYPE OF Thousand Palms HOMES
Single-Family 55.8
Townhomes 1.4
Small Apt. Buildings 1.8
Apt. Complexes 1.1
Mobile Homes 39.9
Other 0.0

Home Size

SIZE OF Thousand Palms HOMES
No Bedroom 0.43
1 Bedroom 3.95
2 Bedrooms 47.31
3 Bedrooms 35.57
4 Bedrooms 11.81
5 or more bedrooms 0.93

Thousand Palms Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
89.36% 3.83% 6 10
* 10 is highest

Popular Neighborhoods in Thousand Palms

Zip Codes in Thousand Palms, CA