No Comments

What is the Cost of Living in Palm Springs?

When someone says Palm Springs, most people instantly think of the wealthy and how many zeros you need in your bank account to afford living there. So, is that true? In this episode of Time Out I wanted to do a little breakdown of the costs to live in Palm Springs so we can make an accurate assessment. 

 

First things first, Palm Springs is in Southern California, so in general, the prices of everything are higher than normal. The cost of Palm Springs in particular though is 22% higher than the national average. This percentage is based on a number of different factors such as housing, medical costs, grocery costs, and utility costs. These are all things to think about when you are deciding where you want to live and what your budget is. Let’s break each of those down. 

 

Although Palm Springs has the legacy of being one of the most expensive places to live, it is actually less expensive than a lot of its surrounding communities. The average household cost is $440,000 as of December 2019. This ranks them as 46% higher than the national housing average in the United States. The average rent each month is $2,500. Looking at these numbers you can see that housing is quite expensive in Palm Springs, but you get what you pay for. 

 

Now for utilities. The utility prices are 7% higher in Palm Springs and average $200 a month, but in the summer, Palm Springs gets boiling hot, which typically results in using more air conditioning which in turn leads to a higher utility bill. This is comparable to living in a place like Vermont. They have long cold winters which means higher heating bills. 

 

Groceries are 17% higher than the national average here in Palm Springs. Your average gallon of milk is around $2.98 here to give you an idea. This always depends on what grocery store you are shopping at and of course what you are shopping for. 

 

Health care though, is where Palm Springs really shines. They are widely known for their great quality care and relatively cheap health care facilities. With three major hospitals in the area which include a lot of specialty clinics, it is 3% lower than the national average in price. They aren’t lacking in quality either! Their quality rating is always higher than the national average in this health conscious area that boasts life extension practices and celebrity doctors.

 

Lastly, although they have great bus transportation in the area, you are still going to want to have a vehicle. Gas is more expensive in California as a whole due to its gas emissions standards and a regular gallon of gas costs roughly $3.77. Of course when you are talking about living expenses there are a lot of other contributions depending on your lifestyle. Maybe you are a golfer or a foodie who enjoys dining out regularly. All of these things will contribute to the cost of living, but if you are interested in living in Palm Springs, I would love to be the person to help make that possible for you!

Comments (0)