November's First-Time Homebuyer Report for Palm Springs

The population of Palm Springs is less affluent than average compared to others in California with a median income of $45,242 per household. It's also considered an average city in terms of affordability with a cost of living adjustment score of 114.4. 92240, 92262, and 92264 are the three largest zip codes in terms of population. Homes in Palm Springs are relatively old with a median age of 34 years. The top school in the city is Cielo Vista Elementary School.

Price Range

Homes in Palm Springs are worth a median of $198,800, similar to other parts of California. Additionally, the list prices of available homes is currently at an average of $408,614.

Curious as to which homes have been getting the most attention in Palm Springs? These listings have stirred up interest and produced the most views:

$1.3M   $499K   $420K  

Typical Dwelling

A three-bedroom detached home valued around $627,941 is considered a typical dwelling in Palm Springs. If a buyer was looking for a similar home, they would need good credit and a $125,588 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,529 and 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 11/26/2016

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