Palm Springs, California Rental Market Trends

Disclaimer:

Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Palm Springs, California rental market.

Palm Springs, California

Average Apartment Rent

$2,127

Y-o-Y Change in Average
Apartment Rent

-1.5%

As of June 2025

Compared to a year ago, Palm Springs, California apartments have recorded a -1.5% rent decrease.

Palm Springs, California Average apartment rent trend

Median Rent Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024 Mar 2025
Palm Springs $1,953 $1,961 $1,960 $2,010 $2,083 $2,149 $2,122 $2,161
National $1,703 $1,703 $1,722 $1,710 $1,716 $1,736 $1,729 $1,736
Palm Springs
National
Nov 2022
$1,953
$1,703
Mar 2023
$1,961
$1,703
Jul 2023
$1,960
$1,722
Nov 2023
$2,010
$1,710
Mar 2024
$2,083
$1,716
Jul 2024
$2,149
$1,736
Nov 2024
$2,122
$1,729
Mar 2025
$2,161
$1,736

Palm Springs, California Average Apartment Rent

Palm Springs, California Apartment rent ranges

Under $1,000
$1,001 - $1,500
$1,501 - $2,000
$2,001 - $2,500
$2,501 - $3,000
Over $3,000

At 57.26%, apartments priced $1,500 - $2,000 represent the bulk of Palm Springs, California rentals, while condos priced Under $1,000 hold the lowest share of the market – 0.43%.

Palm Springs, California Housing tenure**

Renter occupied housing units 8,432
Owner occupied housing units 15,457

Renters take up 35% of Palm Springs, California real estate, occupying a total of 8,432 units, while homeowners live in 15,457 properties.

Median number of rooms of renter-occupied housing units**

3.5

Renter median household income**

$47,436

Average household size of renter-occupied housing units**

1.97

Rental vacancy rate**

8%

Palm Springs, California Renter-occupied housing units by no. of bedrooms**

No bedrooms 901
1 bed 2,816
2 beds 3,537
3 beds 932
4 beds 232

There are 3,537 rentals in Palm Springs, California with 2 beds making up the highest share of the market, at 42%. Units with 4 beds, on the other hand, hold the lowest percentage (3%), amounting to 232 units. Overall, the median number of rooms in Palm Springs, California homes for rent is 3.5.

Palm Springs, California Renter-occupied units by age of householder**

15 - 24 years 335
25 - 34 years 1,717
35 - 44 years 1,068
45 - 54 years 1,537
55 - 59 years 887
60 - 64 years 700
65 - 74 years 1,265
75 - 84 years 674
85 years and over 249

Most condos for rent in Palm Springs, California are occupied by residents in the 25 - 34 years age group (20%), followed by those in the 45 - 54 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.

Palm Springs, California Renter-occupied housing units by family type**

Family households 2,877
Non-Family Households 5,555

Palm Springs, California Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 1,324
No related children of the householder under 18 7,108

A total of 2,877 apartments for rent in Palm Springs, California, or 34% of all rentals are family households. Additionally, 16% of rental homes include children under the age of 18 – that’s 1,324 units. All in all, the median size of a renter-occupied household in Palm Springs, California is 1.97.

Palm Springs, California Renter-occupied housing units by educational attainment**

Less than high school graduate 709
High school graduate (including equivalency) 1,822
Some college or associate's degree 3,280
Bachelor's degree or higher 2,621

In terms of education, renters holding bachelor degrees or higher make up 31% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Palm Springs, California.

Palm Springs, California Renter-occupied units by year structure built**

Built 2010 - 2019 63
Built 2000 - 2009 624
Built 1990 - 1999 856
Built 1980 - 1989 2,114
Built 1970 - 1979 2,411
Built 1960 - 1969 1,200
Built 1950 - 1959 869
Built 1940 - 1949 127
Built 1939 or earlier 168

The highest share of Palm Springs, California apartment rentals, namely 29% or 2,411 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (25%, 2,114 units), and the ones Built 1960 - 1969 (14%, 1,200 units).

Palm Springs, California Renter-occupied units by year householder moved in**

Moved in 2021 or later 516
Moved in 2018 to 2020 2,678
Moved in 2010 to 2017 4,060
Moved in 2000 to 2009 738
Moved in 1990 to 1999 320
Moved in 1989 or earlier 120

Median year renter moved into unit 2016

Most Palm Springs, California renters (48%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Palm Springs, California condos for rent is 2016.

Palm Springs, California Renter-occupied housing units by vehicles available**

No vehicle available 1,030
1 vehicle available 4,586
2 vehicles available 2,097
3 vehicles available 601
4 or more vehicles available 118

When it comes to transportation options, 54% of Palm Springs, California renters have 1 vehicle available per household, 25% of them have 2 vehicles available, and 12% have No vehicle available.

Palm Springs, California Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 5,439
Car, truck, or van - carpooled 979
Public transportation (excluding taxicab) 193
Walked 279
Taxicab, motorcycle, bicycle, or other means 148
Worked at home 878

Palm Springs, California Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 13,721
Moved within same county 1,821
Moved from different county within same state 543
Moved from different state 367

The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Palm Springs, California apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

*Average single-family rent calculated from point2homes.com data.

**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates

Check out rentals available in Palm Springs, California