Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 51,583 people, 24,129 houses or apartments, and a median cost of homes of $651,138, real estate costs in Palm Desert are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Palm Desert, accounting for 38.77% of the city's housing units. Other types of housing that are prevalent in Palm Desert include row houses and other attached homes ( 26.90%), large apartment complexes or high rise apartments ( 16.83%), and a few mobile homes or trailers ( 8.84%).
Dwellings in Palm Desert tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.40% of the homes in Palm Desert have two or fewer bedrooms.
There is a lot of housing in Palm Desert built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Palm Desert built between 2000 and later ( 16.18%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.96%).
A decent proportion of the Palm Desert housing stock is seasonally occupied. That is, homes and condos in Palm Desert are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Palm Desert housing market speaks to its popularity as a vacation location of choice.
Appreciation rates for homes in Palm Desert have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 110.70%, which ranks in the top 30% nationwide. This equates to an annual average Palm Desert house appreciation rate of 7.74%.
NeighborhoodScout's data show that during the latest twelve months, Palm Desert's appreciation rate, at 5.66%, has been at or slightly above the national average. In the latest quarter, Palm Desert's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.
Relative to California, our data show that Palm Desert's latest annual appreciation rate is lower than 50% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Palm Desert differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palm Desert - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Palm Desert real estate investment or home purchase decisions.
$651,138
for California
for nation
24,129
$2,954 / per month