October's First-Time Homebuyer Report for Palm Springs

Palm Springs is a larger than average city in California with 44,552 residents. Also, it has a lower than average density with 473.4 people per square mile. The three zip codes with the largest populations are 92240, 92262, and 92264. It should be noted that 38.4% of the homes in Palm Springs are owned, while 27.0% are rentals. The best school in the city is Cielo Vista Elementary School.

Culture

If you are interested in arts and entertainment, Foursquare says that Palm Springs Art Museum and Regal Cinemas Palm Springs 9 are the most popular places in Palm Springs. You might also try Sherman's Deli & Bakery, King's Highway at Ace Hotel & Swim Club, and Elmers Restaurant, a few popular places to dine out. And finally, Las Casuelas Terraza is a frequently visited spot to get a drink.

Price Range

Home values in Palm Springs are generally in line with others in the state with a median home value of $198,800 and an average list price of $407,762. 92264, 92262, and 92240 have the least expensive homes in the city.

Make sure you take a look at these eye-catching homes in Palm Springs that generated the most views from potential buyers:

$25M   $184K   $1.5M  

Typical Dwelling

The typical dwelling in Palm Springs is a three-bedroom detached home worth about $613,896. To purchase a similar home, a buyer with good credit and a $122,779 cash down payment could obtain a mortgage with a 3.95% interest rate and a $1,674 monthly payment. The property tax rate is $9.19 per $1,000 of taxable assessed value.

Get started right now by checking out Palm Springs homes for sale or reviewing Palm Springs real estate trends.


Data reported through 10/20/2016

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