Nestled in the Coachella Valley of Riverside County is the city of Palm Springs. Around 1.6 million visitors come to enjoy the California's weather and recreational facilities, which include visiting the Mount San Jacinto Mountains as well as a variety of performing arts theatres and museums. Other popular outdoor activities include golfing while the urban area also offers residents plenty of shopping, dining and first-class living.
Data shows the median household income was $44,728, and is lower than the state's median income of $60,883. The lower value is likely because many residents are retired as the Census listed the median age of residents as 51 years old while 26.5 percent of the population was older than 65 years of age. The median income likely suppresses the median home value of owner-occupied housing units, which was also under California's median at $352,700.
The city is just around 100 miles east of the busier city of Los Angeles and offers a more family-oriented community than homes in Los Angeles. Many Southern California residents purchase a second home in Palm Springs, as the permanent population was 43,800 in 2001 while the number of residents increases to around 75,000 during the winter season. The 2010 Census reported a population of 42,807, which increased 4.1 percent between 2000 and 2010. The state's overall population increased 10 percent within the same time.
Homes for sale in Los Angeles could continue to see multiple offers, as mortgage rates have remained near all-time lows despite rising in two consecutive weeks.