Palm Springs, CA—92262
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Palm Springs, CA
Home Price Trends — Palm Springs, CA
As of Oct '25, the median home price in Palm Springs, CA is $641,000, with a year-over-year change of -6.5%. This indicates that home prices in Palm Springs, CA are decreasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $641,000 | -6.5% |
| Single Family | $872,000 | -9.0% |
| Condos | $353,000 | -4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $207,000 | -6.3% |
2 Bed | $457,000 | -2.1% |
3 Bed | $819,000 | -9.3% |
4 Bed | $1,068,000 | -8.3% |
| 5 Bed | $2,328,000 | -5.0% |
% of Housing Stock
Rental Trends — Palm Springs, CA
As of July '25, Rentcast reports the average rent in Palm Springs, CA is $3,480, with a year-over-year rent change of -7.9%. Per bedroom, the median rent as of July '25 in Palm Springs, CA is studios: $1,620, 1-bedrooms: $1,760, 2-bedrooms: $3,080, 3-bedrooms: $4,640, 4-bedrooms: $5,960. The most common rental property sizes in Palm Springs, CA are 2-bedroom and 1-bedroom, accounting for 41.5% and 29.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,900 | $3,480 |
| Studio Rent | $1,350 | $1,620 |
| 1 Bed Rent | $1,600 | $1,760 |
| 2 Bed Rent | $2,500 | $3,080 |
| 3 Bed Rent | $4,000 | $4,640 |
| 4 Bed Rent | $5,500 | $5,960 |
% of Rental Stock
Property Listings — Palm Springs, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Palm Springs, CA is 51. 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $734,000 | -5.0% |
Listing Count | 485 | 14.0% |
| Listings as % of Homes | 1.6% | 14.0% |
Days on Market | 51 | 11.0% |
Demographics — Palm Springs, CA
As of the latest ACS Survey released in 2023, Palm Springs, CA has a population of 26,100, which has decreased by -8.6% over the past 5 years. Palm Springs, CA is a less popular place for families, as children make up 12.2% of the population. The area has a moderately educated workforce, with 41.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,100 | -8.6% |
% Under 18 | 12.2% | -21.3% |
% Seniors | 29.2% | 14.1% |
% WFH | 23.2% | 66.9% |
% w/ College Degree | 41.7% | 17.8% |
As of the latest ACS Survey released in 2023, Palm Springs, CA is a predominantly white area, with 57.6% of the population identifying as white. The white population has grown by 8.1% in the last 5 years. The second most common race or ethnicity in Palm Springs, CA is hispanic, making up 27.4% of the population. Foreign-born residents account for 17.4% of the population in Palm Springs, CA, and this percentage has decreased by 23.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 57.6% | 8.1% |
% Black | 9.6% | 88.2% |
% Hispanic | 27.4% | -19.9% |
% Asian | 3.2% | -27.3% |
% Foreign Born | 17.4% | -23.0% |
Mortgage and Risk — Palm Springs, CA
According to HUD data as of 2023, there were 727 mortgage originations in Palm Springs, CA, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Palm Springs, CA. Investor activity is low, as 8.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 727 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 8.0% |
% Second Loans | 24.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Palm Springs, CA
As of 2024, the percent of homes in Palm Springs, CA under the Section 8 program is 10.3%. 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 units appear to be good home sizes to consider for Section 8 housing in Palm Springs, CA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 635 |
Total Units Section 8 | 540 |
% Rentals under Section 8 | 10.3% |
% Occupied Section 8 | 90.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $1,600 | $1,780 |
| 2 Bedroom | -$280 | $2,500 | $2,220 |
| 3 Bedroom | -$1,040 | $4,000 | $2,960 |
| 4 Bedroom | -$1,890 | $5,500 | $3,610 |
Affordability — Palm Springs, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 10.1 |
| Median Home Price | $641,000 |
| Median Household Income | $70,500 |