Palm Springs, FL—33461
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palm Springs, FL
As of Oct '25, the median home price in Palm Springs, FL is $298,000, with a year-over-year change of -5.0%. This indicates that home prices in Palm Springs, FL are decreasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $298,000 | -5.0% |
| Single Family | $389,000 | -4.0% |
| Condos | $99,000 | -16.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $88,000 | -15.4% |
2 Bed | $204,000 | -7.7% |
3 Bed | $408,000 | -4.4% |
4 Bed | $492,000 | -3.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Palm Springs, FL
As of July '25, Rentcast reports the average rent in Palm Springs, FL is $2,110, with a year-over-year rent change of -3.7%. Per bedroom, the median rent as of July '25 in Palm Springs, FL is studios: $1,490, 1-bedrooms: $1,600, 2-bedrooms: $2,040, 3-bedrooms: $2,740, 4-bedrooms: $3,460. The most common rental property sizes in Palm Springs, FL are 2-bedroom and 3-bedroom, accounting for 54.5% and 21.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,110 |
| Studio Rent | $1,300 | $1,490 |
| 1 Bed Rent | $1,550 | $1,600 |
| 2 Bed Rent | $2,000 | $2,040 |
| 3 Bed Rent | $2,600 | $2,740 |
| 4 Bed Rent | $2,960 | $3,460 |
% of Rental Stock
Property Listings — Palm Springs, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Palm Springs, FL is 93. This is a increase of 11.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $130,000 | -6.0% |
Listing Count | 268 | 6.0% |
| Listings as % of Homes | 0.9% | 6.0% |
Days on Market | 93 | 11.0% |
Demographics — Palm Springs, FL
As of the latest ACS Survey released in 2023, Palm Springs, FL has a population of 49,200, which has increased by 6.3% over the past 5 years. Palm Springs, FL is a moderately popular place for families, as children make up 21.4% of the population. The area has a poorly educated workforce, with 17.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,200 | 6.3% |
% Under 18 | 21.4% | -11.2% |
% Seniors | 13.2% | -1.5% |
% WFH | 4.1% | 70.8% |
% w/ College Degree | 17.5% | 15.1% |
As of the latest ACS Survey released in 2023, Palm Springs, FL is a predominantly hispanic area, with 58.6% of the population identifying as hispanic. The hispanic population has grown by 11.4% in the last 5 years. The second most common race or ethnicity in Palm Springs, FL is white, making up 19.6% of the population. Foreign-born residents account for 52.1% of the population in Palm Springs, FL, and this percentage has increased by 29.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 19.6% | -32.4% |
% Black | 17.9% | 4.1% |
% Hispanic | 58.6% | 11.4% |
% Asian | 2.1% | 110.0% |
% Foreign Born | 52.1% | 29.9% |
Mortgage and Risk — Palm Springs, FL
According to HUD data as of 2023, there were 486 mortgage originations in Palm Springs, FL, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Palm Springs, FL. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 486 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Palm Springs, FL
As of 2024, the percent of homes in Palm Springs, FL under the Section 8 program is 3.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Palm Springs, FL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 248 |
Total Units Section 8 | 246 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 82.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $1,550 | $1,660 |
| 2 Bedroom | -$20 | $2,000 | $1,980 |
| 3 Bedroom | -$10 | $2,600 | $2,590 |
| 4 Bedroom | $130 | $2,960 | $3,090 |
Affordability — Palm Springs, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $298,000 |
| Median Household Income | $61,200 |