Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Desert Hot Springs | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $314,665 | $642,203 | $242,182 |
| Price Trend (Annual %) | 22.1% | 10.0% | 8.2% |
| Median Gross Rent | $1,295 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Desert Hot Springs is about 51% lower than in California. Rent is about 34% lower than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Desert Hot Springs, up about 22.1% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Desert Hot Springs rose about 43.8% between 2015 and 2023, from $901 to $1,295. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 6.8 yearly household incomes in Desert Hot Springs.
Buying the median-priced home in Desert Hot Springs costs roughly 20.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Desert Hot Springs. The price-to-rent ratio in California is about 27.4.
| Metric | Desert Hot Springs | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $314,665 | $642,203 | $242,182 |
| Median Household Income | $45,971 | $96,718 | $78,145 |
| Price-to-Income Ratio | 6.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Desert Hot Springs rose about 144.9%, while median household income rose about 33.3% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Desert Hot Springs | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.7% | 51.6% | 58.2% |
| Rental Rate | 43.3% | 40.9% | 31.3% |
| Vacancy Rate | 11.0% | 7.6% | 10.6% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Desert Hot Springs has a homeownership rate of 45.7%, lower than the California average of 51.6%. Its housing vacancy rate is 11.0%, compared with 7.6% in California.
Housing Stock
| Metric | Desert Hot Springs | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.88 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1987 | 1975 | 1978 |
| Median Number of Rooms | 4.6 | 5.0 | 5.5 |
The typical housing unit in Desert Hot Springs was built around 1987. On average, 2.9 people live in a home with about 4.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Desert Hot Springs, California.
What is the median home price in Desert Hot Springs, California?
The median home price in Desert Hot Springs, California is $314,665, lower than the California average of $642,203.
What is the average home price in Desert Hot Springs, California?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Desert Hot Springs, California?
The median gross rent in Desert Hot Springs, California is $1,295 per month, lower than the California average of $1,955.
What was the median gross rent in Desert Hot Springs in 2020?
In 2020, the median gross rent in Desert Hot Springs, California was $1,026 per month.
What is the price-to-rent ratio in Desert Hot Springs, California?
The price-to-rent ratio in Desert Hot Springs, California is about 20.2, meaning it would take roughly 20.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Desert Hot Springs.
Are home prices or rent rising faster in Desert Hot Springs, California?
Both home prices and rent are rising in Desert Hot Springs, up about 22.1% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Desert Hot Springs, California?
45.7% of households in Desert Hot Springs, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in Desert Hot Springs, California?
The housing vacancy rate in Desert Hot Springs, California is 11.0%, higher than the California average of 7.6%.