🏠 Valley rents climbed across the board in August
Rancho Mirage remains the Coachella Valley’s most expensive rental market, while Desert Hot Springs is the only city surveyed with average rent below $2,000
Renters across the Coachella Valley saw prices move higher in August, with every city surveyed posting both monthly and year-over-year increases, according to the latest Zillow Observed Rent Index.
The increases were modest in several cities, but Rancho Mirage and La Quinta recorded noticeably sharper jumps as the valley moved closer to its busy fall season.
Rancho Mirage leads in price and growth
Rancho Mirage remained the valley’s most expensive rental market in August, with average rent reaching $4,222.50. That represents a 7% increase from a year ago and a 3.2% jump in just one month, the largest increase in both categories among the cities surveyed.
La Quinta ranked second for average rent at $3,567.54. Prices there increased 6.1% year over year and 2.5% from July, making it another market where rents rose significantly faster than the valley’s less expensive cities.
Palm Springs rent tops $2,100
Average rent in Palm Springs increased to $2,109.84 in August, up 2% from a year earlier and 0.7% from July.
That places Palm Springs near the lower end of the seven cities surveyed, despite its prominence as the valley’s best-known tourism and residential market. Average rent was higher in Rancho Mirage, La Quinta, Palm Desert, Indio and Cathedral City.
Palm Desert’s average rent reached $2,676.60, an increase of 4.1% year over year and 0.9% month to month.
In Indio, average rent rose to $2,349.01. Its 6.3% annual increase was the second highest in the survey, trailing only Rancho Mirage. Indio rents increased 0.8% from July.
Desert Hot Springs remains the most affordable
Desert Hot Springs was the only city surveyed with average rent below $2,000. Its August average was $1,984.89, up 1.5% from a year ago and 0.6% from the previous month.
Cathedral City came in at $2,300.61, reflecting a 2.9% annual increase and a 0.7% monthly increase.
August rental prices at a glance
City | Average rent | Year-over-year change | Monthly change |
Rancho Mirage | $4,222.50 | +7.0% | +3.2% |
La Quinta | $3,567.54 | +6.1% | +2.5% |
Palm Desert | $2,676.60 | +4.1% | +0.9% |
Indio | $2,349.01 | +6.3% | +0.8% |
Cathedral City | $2,300.61 | +2.9% | +0.7% |
Palm Springs | $2,109.84 | +2.0% | +0.7% |
Desert Hot Springs | $1,984.89 | +1.5% | +0.6% |
The August figures show a rental market that is still becoming more expensive, although not evenly. Rancho Mirage rents were more than twice those in Desert Hot Springs, a difference of nearly $2,238 per month.
The biggest pressure appears to be in the eastern and more affluent resort cities. Rancho Mirage, Indio and La Quinta posted the valley’s largest annual increases, while Desert Hot Springs, Palm Springs and Cathedral City experienced comparatively moderate growth.
The Zillow Observed Rent Index estimates typical market-rate rents in a given area and is designed to track changes in rental prices over time.
