Total monthly cost of ownership
Cost to Own a Home in Palm Desert, California
A $492,000 home here costs
$3,758per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,529. The real number is $1,229 higher every month — 49% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Palm Desert against Riverside County and California
| Measure | Palm Desert | Riverside County |
|---|---|---|
| Median home value | $491,600 | $510,300 |
| Median property tax | $4,502 | $4,189 |
| Effective tax rate | 0.916% | 0.821% |
| Median gross rent | $1,717 | $1,814 |
| Population | 51,551 | 2,449,909 |
The weather behind that power bill
Palm Desert sits in Riverside County, which averages a high of 106.9°F in its hottest month and a low of 37.7°F in its coldest, with 2.96" of precipitation a year and 54% of it in a single three-month stretch. That climate drives 3,880 cooling and 1,108 heating degree days, which is what sets the $299 electricity line above.
See the full climate breakdown for Riverside County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Riverside County
Full Riverside County cost breakdown · Every county in California
Common questions
How much does it cost to own a home in Palm Desert?
A $492,000 home in Palm Desert, California costs approximately $3,758 per month with 20% down at 6.66%. That is $2,529 principal and interest, $376 property tax, $76 homeowners insurance, $367 utilities and $410 set aside for maintenance.
What is the property tax rate in Palm Desert?
Palm Desert has an effective property tax rate of 0.916%, based on a median home value of $491,600 and median real estate taxes of $4,502. That is higher than the Riverside County average of 0.821%.
What is the average home price in Palm Desert?
The median owner-occupied home value in Palm Desert, California is $491,600, against $510,300 across Riverside County.
Is it cheaper to rent or buy in Palm Desert?
Median gross rent in Palm Desert is $1,717 a month, against $3,758 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Palm Desert — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for California.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.