Rancho Mirage, CA—92270
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rancho Mirage, CA
As of Oct '25, the median home price in Rancho Mirage, CA is $831,000, with a year-over-year change of -5.2%. This indicates that home prices in Rancho Mirage, 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 | $831,000 | -5.2% |
| Single Family | $1,049,000 | -5.9% |
| Condos | $551,000 | -3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $299,000 | -11.3% |
2 Bed | $530,000 | -4.7% |
3 Bed | $831,000 | -5.9% |
4 Bed | $1,408,000 | -4.9% |
| 5 Bed | $2,266,000 | -2.8% |
% of Housing Stock
Rental Trends — Rancho Mirage, CA
As of July '25, Rentcast reports the average rent in Rancho Mirage, CA is $5,270, with a year-over-year rent change of 2.7%. Per bedroom, the median rent as of July '25 in Rancho Mirage, CA is 1-bedrooms: $2,260, 2-bedrooms: $4,280, 3-bedrooms: $5,540, 4-bedrooms: $6,830. The most common rental property sizes in Rancho Mirage, CA are 2-bedroom and 3-bedroom, accounting for 42.0% and 22.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,000 | $5,270 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,250 | $2,260 |
| 2 Bed Rent | $3,800 | $4,280 |
| 3 Bed Rent | $5,350 | $5,540 |
| 4 Bed Rent | $6,200 | $6,830 |
% of Rental Stock
Property Listings — Rancho Mirage, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Rancho Mirage, CA is 44. This is a increase of 18.0% 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 | $952,000 | -1.0% |
Listing Count | 368 | 10.0% |
| Listings as % of Homes | 1.8% | 10.0% |
Days on Market | 44 | 18.0% |
Demographics — Rancho Mirage, CA
As of the latest ACS Survey released in 2023, Rancho Mirage, CA has a population of 17,400, which has decreased by -3.9% over the past 5 years. Rancho Mirage, CA is a less popular place for families, as children make up 9.6% of the population. The area has a highly educated workforce, with 46.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,400 | -3.9% |
% Under 18 | 9.6% | 41.2% |
% Seniors | 49.9% | -5.5% |
% WFH | 26.9% | 161.2% |
% w/ College Degree | 46.5% | 5.4% |
As of the latest ACS Survey released in 2023, Rancho Mirage, CA is a predominantly white area, with 76.8% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in Rancho Mirage, CA is hispanic, making up 15.2% of the population. Foreign-born residents account for 16.7% of the population in Rancho Mirage, CA, and this percentage has increased by 13.6% 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 | 76.8% | -5.2% |
% Black | 1.7% | -26.1% |
% Hispanic | 15.2% | 55.1% |
% Asian | 3.6% | -29.4% |
% Foreign Born | 16.7% | 13.6% |
Mortgage and Risk — Rancho Mirage, CA
According to HUD data as of 2023, there were 414 mortgage originations in Rancho Mirage, CA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Rancho Mirage, CA. Investor activity is low, as 2.0% 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 | 414 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 23.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Rancho Mirage, CA
As of 2024, the percent of homes in Rancho Mirage, CA under the Section 8 program is 11.3%. 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. In Rancho Mirage, CA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 174 |
Total Units Section 8 | 173 |
% Rentals under Section 8 | 11.3% |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$320 | $2,250 | $1,930 |
| 2 Bedroom | -$1,400 | $3,800 | $2,400 |
| 3 Bedroom | -$2,150 | $5,350 | $3,200 |
| 4 Bedroom | -$2,300 | $6,200 | $3,900 |
Affordability — Rancho Mirage, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.8 |
| Median Home Price | $831,000 |
| Median Household Income | $110,000 |