There are currently 28,507 real estate properties in Palm Springs, CA, with a median automated valuation model (AVM) price of $603,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Palm Springs, CA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Palm Springs, CA, is $829,845.00, with the most expensive house in Palm Springs, CA, topping out at $24,644,500.00 and the cheapest home in Palm Springs, CA, clocking in at $30,000.00. In other words, there’s something for every potential homebuyer or savvy investor 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 $2,117.00. Indeed, when looking to rent in Palm Springs, CA, you can expect to pay as little as $680.00 or as much as $4,400.00, with the average rent median estimated to be $2,040.00. 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.
Palm Springs is located in Riverside, California, with an estimated municipal population of 48,518 residents. All of the best foreclosed homes for sale in Palm Springs are located in the following zip code areas on Foreclosure.com: 92262 92264 92258 92263. The estimated population per square kilometer (.62 miles) in Palm Springs is 198.
So, about how much do homes cost in Palm Springs? The most recent median value of resident-owned homes in Palm Springs is 388,263. An estimated 60.9 percent of households in Palm Springs own their homes, with an average family size of 2.84. The median household income in Palm Springs is 53,441, with27.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Palm Springs, the median commute time of resident workers (in minutes) is 21.5. And last, but certainly not least, are you looking for homes to rent in Palm Springs? If so, the average rent price paid by renters in Palm Springs is 1,114, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Palm Springs, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Palm Springs is 55.4, split between 58.9 percent male versus 41.1 female. The percentage of residents who report being married in Palm Springs is 40.3, with an average family size of 2.84.
The percentage of residents who report their race in Palm Springs is as follows:
|Black / African American
|American Indian / Alaskan Native
|Native Hawaiian / Other Pacifc Islander
Looking for family-friendly neighborhoods in and/or near Palm Springs? Or maybe you are searching for 55+ active adult communities in and/or near Palm Springs?
The percentage of residents who report their age in Palm Springs is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Palm Springs with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Palm Springs.
How do you know that living in -- or moving to -- Palm Springs is right where you need to be? Perhaps you grew up in Palm Springs or already live nearby; therefore, the decision to buy a home in Palm Springs is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Palm Springs for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Palm Springs:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Palm Springs.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Palm Springs can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Palm Springs, meanwhile, can field multiple offers from more qualified buyers.
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