Thousand Palms, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Thousand Palms, CA Housing Market Trends

With 8,270 people, 2,607 houses or apartments, and a median cost of homes of $239,267, Thousand Palms real estate values are some of the lowest in California, although compared to real estate around the nation, Thousand Palms homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Thousand Palms, accounting for 48.26% of the town's housing units. Other types of housing that are prevalent in Thousand Palms include mobile homes or trailers ( 46.87%), duplexes, homes converted to apartments or other small apartment buildings ( 3.32%), and a few large apartment complexes or high rise apartments ( 1.07%).

Dwellings in Thousand Palms tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.90% of the homes in Thousand Palms have two or fewer bedrooms.

There is a lot of housing in Thousand Palms built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Thousand Palms built between 1940-1969 ( 21.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.14%).

Vacant housing appears to be an issue in Thousand Palms. Fully 30.26% of the housing stock is classified as vacant. Left unchecked, vacant Thousand Palms homes and apartments can be a drag on the real estate market, holding Thousand Palms real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Thousand Palms Home Appreciation Rates

In the last 10 years, Thousand Palms has experienced some of the highest home appreciation rates of any community in the nation. Thousand Palms real estate appreciated 172.98% over the last ten years, which is an average annual home appreciation rate of 10.56%, putting Thousand Palms in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Thousand Palms definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Thousand Palms that despite a nationwide downturn in the housing market, Thousand Palms real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Thousand Palms appreciation rates continue to be some of the highest in America, at 16.69%, which is higher than appreciation rates in 97.93% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Thousand Palms. Thousand Palms appreciation rates in the latest quarter were at 5.11%, which equates to an annual appreciation rate of 22.04%.

Importantly, this makes Thousand Palms one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to California, our data show that Thousand Palms's latest annual appreciation rate is higher than 90% of the other cities and towns in California.

Average Home Values

 

Median Home Value:
$239,267

Thousand Palms, CA HOME PRICES

> $1,462,000
1.4%
1.4%
$1,096,001 - $1,462,000
0.7%
0.7%
$731,001 - $1,096,000
3.1%
3.1%
$585,001 - $731,000
3.6%
3.6%
$438,001 - $585,000
9.7%
9.7%
$292,001 - $438,000
26.9%
26.9%
$146,001 - $292,000
35.5%
35.5%
$73,001 - $146,000
14.1%
14.1%
$0 - $73,000
4.9%
4.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very Low for CA

Value Relative To Nation

Number Of Homes And Apartments:
2,607

Thousand Palms Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
200.25% 5.25%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,725 / per month

Homeownership Rate

Owners
73.9%
73.9%
Renters
26.1%
26.1%
Vacant
30.3%
30.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
13.1%
13.1%
1970 - 1999
64.5%
64.5%
1940 - 1969
21.7%
21.7%
1939 or Older
0.7%
0.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
48.3%
48.3%
Townhomes
0.5%
0.5%
Small Apt. Buildings
3.3%
3.3%
Apt. Complexes
1.1%
1.1%
Mobile Homes
46.9%
46.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
1.9%
1.9%
2 Bedrooms
53.7%
53.7%
3 Bedrooms
31.6%
31.6%
4 Bedrooms
10.8%
10.8%
5 or more bedrooms
0.8%
0.8%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Thousand Palms

Zip Codes in Thousand Palms, CA