Palm Desert, California Housing Market Prices
Palm Desert Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 35% below the California median$424,212
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Median rent 12% below the California median$1,793
Housing Market Overview
| Metric | Palm Desert | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $424,212 | $650,794 | $248,835 |
| Price Trend (Annual %) | 2.9% | 8.9% | 7.5% |
| Median Gross Rent | $1,793 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Palm Desert is about 35% lower than in California. Rent is about 12% lower than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Palm Desert, up about 2.9% and 5.7% a year respectively. Rent is changing faster.
Median rent in Palm Desert rose about 59.1% between 2015 and 2024, from $1,127 to $1,793. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Palm Desert.
Buying the median-priced home in Palm Desert costs roughly 19.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Palm Desert. The price-to-rent ratio in California is about 26.6.
| Metric | Palm Desert | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $424,212 | $650,794 | $248,835 |
| Median Household Income | $82,219 | $99,161 | $80,455 |
| Price-to-Income Ratio | 5.2 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Palm Desert rose about 20.1%, while median household income rose about 35.0% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Palm Desert | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.7% | 51.7% | 58.5% |
| Rental Rate | 22.8% | 40.8% | 31.2% |
| Vacancy Rate | 34.5% | 7.5% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Palm Desert has a homeownership rate of 42.7%, lower than the California average of 51.7%. Its housing vacancy rate is 34.5%, compared with 7.5% in California.
Housing Stock
| Metric | Palm Desert | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.08 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1985 | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.0 | 5.5 |
The typical housing unit in Palm Desert was built around 1985. On average, 2.1 people live in a home with about 5.0 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Palm Desert, California.
What is the median home price in Palm Desert, California?
The median home price in Palm Desert, California is $424,212, lower than the California average of $650,794.
What is the average home price in Palm Desert, California?
The typical home price in Palm Desert, California, reported as the median sale price, is $424,212. 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 Palm Desert, California?
The median gross rent in Palm Desert, California is $1,793 per month, lower than the California average of $2,036.
What was the median gross rent in Palm Desert in 2020?
In 2020, the median gross rent in Palm Desert, California was $1,356 per month.
What is the price-to-rent ratio in Palm Desert, California?
The price-to-rent ratio in Palm Desert, California is about 19.7, meaning it would take roughly 19.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Palm Desert.
Are home prices or rent rising faster in Palm Desert, California?
Both home prices and rent are rising in Palm Desert, up about 2.9% and 5.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Palm Desert, California?
42.7% of households in Palm Desert, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Palm Desert, California?
The housing vacancy rate in Palm Desert, California is 34.5%, higher than the California average of 7.5%.
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