Palm Springs, CA—92264
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 $591,000, with a year-over-year change of -4.1%. This indicates that home prices in Palm Springs, CA are decreasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $591,000 | -4.1% |
| Single Family | $1,178,000 | -6.7% |
| Condos | $430,000 | -4.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $268,000 | -8.5% |
2 Bed | $443,000 | -4.5% |
3 Bed | $894,000 | -4.6% |
4 Bed | $1,641,000 | -6.8% |
| 5 Bed | $2,162,000 | -4.9% |
% of Housing Stock
Rental Trends — Palm Springs, CA
As of July '25, Rentcast reports the average rent in Palm Springs, CA is $3,210, with a year-over-year rent change of 1.3%. Per bedroom, the median rent as of July '25 in Palm Springs, CA is studios: $1,300, 1-bedrooms: $2,030, 2-bedrooms: $3,200, 3-bedrooms: $4,640, 4-bedrooms: $5,430. The most common rental property sizes in Palm Springs, CA are 2-bedroom and 1-bedroom, accounting for 46.9% and 32.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $3,210 |
| Studio Rent | $1,360 | $1,300 |
| 1 Bed Rent | $1,800 | $2,030 |
| 2 Bed Rent | $2,600 | $3,200 |
| 3 Bed Rent | $4,220 | $4,640 |
| 4 Bed Rent | $4,500 | $5,430 |
% 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 41. This is a increase of 7.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $656,000 | -2.0% |
Listing Count | 331 | 13.0% |
| Listings as % of Homes | 1.1% | 13.0% |
Days on Market | 41 | 7.0% |
Demographics — Palm Springs, CA
As of the latest ACS Survey released in 2023, Palm Springs, CA has a population of 20,200, which has increased by 1.9% over the past 5 years. Palm Springs, CA is a less popular place for families, as children make up 5.5% of the population. The area has a highly educated workforce, with 48.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,200 | 1.9% |
% Under 18 | 5.5% | -33.7% |
% Seniors | 38.4% | 0.0% |
% WFH | 25.8% | 67.5% |
% w/ College Degree | 48.1% | 22.4% |
As of the latest ACS Survey released in 2023, Palm Springs, CA is a predominantly white area, with 68.1% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Palm Springs, CA is hispanic, making up 20.3% of the population. Foreign-born residents account for 15.8% of the population in Palm Springs, CA, and this percentage has decreased by 16.8% 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 | 68.1% | -3.7% |
% Black | 2.2% | 46.7% |
% Hispanic | 20.3% | 2.5% |
% Asian | 6.0% | 11.1% |
% Foreign Born | 15.8% | -16.8% |
Mortgage and Risk — Palm Springs, CA
According to HUD data as of 2023, there were 431 mortgage originations in Palm Springs, CA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Palm Springs, CA. Investor activity is low, as 6.0% 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 | 431 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 6.0% |
% Second Loans | 28.0% |
% Cash Out Refinance | 11.0% |
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 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 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 | 122 |
Total Units Section 8 | 120 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 91.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $1,800 | $1,940 |
| 2 Bedroom | -$190 | $2,600 | $2,410 |
| 3 Bedroom | -$1,000 | $4,220 | $3,220 |
| 4 Bedroom | -$590 | $4,500 | $3,910 |
Affordability — Palm Springs, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.4 |
| Median Home Price | $591,000 |
| Median Household Income | $75,200 |