Foreclosure Homes in Palm Springs, CA

Current Market Conditions in Palm Springs, CA

The Palm Springs real estate market has seen a steady increase in demand, driven by its desirability as both a primary residence and a second home destination. Over the last year, home prices have risen significantly due to low inventory and high buyer interest, especially from out-of-state buyers looking to escape colder climates.

Additionally, the rise of remote work has made Palm Springs an attractive option for individuals seeking a warm climate and a relaxed lifestyle. Luxury properties are particularly sought after, showing strong sales performance due to their appeal as vacation rentals.

Rent Prices In Palm Springs, CA

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Palm Springs, CA, is on a rollercoaster ride. The average rent price in Palm Springs, CA, is $2,119.00. Indeed, when looking to rent in Palm Springs, CA, you can expect to pay as little as $660.00 or as much as $4,400.00, with the average rent median estimated to be $2,050.00. The good news is that finding an affordable and desirable property to rent in Palm Springs, CA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.