Rent to own Homes in Palm Springs, CA
Winter sun and snow. Even in the dead of winter, the desert sun keeps January temperatures at an average 45 degrees Fahrenheit for a low and a pleasant 71 degrees Fahrenheit for a high. Spend those warm days in a local park like Sunrise Park. If you miss the snow, head to the Winter Adventure Center at Mountain Station, where you can rent cross-country ski equipment.
Palm Springs, CA is a great place for affordable rent-to-own homes! With a median household income of over $57,916 and a median rent of $1,199, the Palm Springs, CA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Palm Springs, CA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Palm Springs, CA Property Resources
Rent to own Homes in Cities Near Palm Springs, CA
- Angelus Oaks
- Anza
- Banning
- Beaumont
- Bermuda Dunes
- Cabazon
- Cathedral City
- Desert Edge
- Desert Hot Springs
- Desert Palms
- Forest Falls
- Garnet
- Idyllwild-Pine Cove
- Indian Wells
- Indio
- Indio Hills
- Joshua Tree
- La Quinta
- Morongo Valley
- Mountain Center
- Palm Desert
- Palm Springs
- Rancho Mirage
- Sky Valley
- Thousand Palms
- Valle Vista
- Whitewater
- Yucca Valley
Neighborhoods in Palm Springs, CA
Chino Canyon rent to own homes Desert Park Estates rent to own homes Old Las Palmas rent to own homes Desert Highland - Gateway Estates rent to own homes Racquet Club West rent to own homes The Movie Colony rent to own homes Vista Las Palmas rent to own homes El Mirador rent to own homes Ruth Hardy Park rent to own homes Sunrise Vista Chino rent to own homesBuying a Home in Palm Springs, CA
Palm Springs, CA is seeing rapid growth and Palm Springs, CA's' housing market remains not optimal with an average home price that is 83% above the 2024 national average. Palm Springs, CA is part of Riverside county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Riverside is 0.8% which is below the national average, which is 0.99%.
Median Home Price in Palm Springs, CA
Median Rent in Palm Springs, CA
Nine Reasons to Live in Palm Springs
World's largest rotating tramcar. The Palm Springs Aerial Tramway takes only ten minutes to climb the 8,000 feet from the desert floor to San Jacinto Mountain State Park. While there, you can enjoy the alpine wilderness by hitting one of the many hiking trails or staying at a campground.
Increasing home values. The values of both mortgage and rent-to-own homes have been on a tear since bottoming out in 2012. The spectacular one-year increase of over 25% brings the median value up to $282,500. The median list price is $369,000, while the price per square foot is $219. Median sales prices are at $258,300.
View natural and man-made art. The Palm Springs Art Museum boasts a permanent collection of exhibits related to Western and contemporary art. For one of the world's largest collections of World War II warplanes, spend an hour or two at the Palm Springs Air Museum. To enjoy natural curiosities, check out the Moorten Botanical Garden, specializing in desert plants, such as cacti and succulents.
Hobnob with celebrities. The stars come out to watch over 200 films at the Palm Springs International Film Festival, which is one of the largest of its kind in North America. Golfing greats show up at the Humana Challenge to help raise funds for local charities.
Rents are up. Since rent prices are up to $1,900 from a low of $1,200 in late 2012, rent-to-own houses prevent you from throwing your money away each month. Check out the neighborhoods of Snow Creek or N. Indian Canyon Dr. to see what's available.
Engaging nightlife. Once the sun goes down, several nightspots vie for your attention. Zelda's Nightclub has dominated downtown with drinks, dancing and live performances for 33 years. For a more laid-back experience, head for the patio of Azul, which also serves lunch and dinner.
Shop like a local. Find out if the desert blooms with edibles at the Certified Farmers' Market held on Saturday mornings. Trendier goods are available from the fashion boutiques, furniture stores and art galleries at the Uptown Design District.
Many mid-century modern choices. Palm Springs features the biggest concentration of mid-century modern architecture, exemplified by the Desert Modernism. Even the federal government designated the location as a Preserve America City. These distinctive designs, which may be available in some rent-to-own houses, have caught the attention of famed auction house and realtor, Sotheby's, which devotes an entire department to them.