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Rent At An All-Time High in Palm Springs

Rent At An All-Time High in Palm Springs

The cost of living is getting even more costly as rent in Palm Springs is at an all-time high this year.

“Rent is up. One-bedroom rent prices are up about 30% and two-bedrooms are up about 10%,” said Brian Carberry, Managing Editor of Rent.com. “Rent prices do slowly climb up year over year but not at the rates we’re seeing now.”

The average price to rent currently in Riverside County is $1,800 per month. If you’re in Palm Springs, you can expect that price to be higher, and that’s not including other expenses like electricity, water, gas, and sanitary waste that continues to increase year after year.

“If the rent is going up 20%, but your income is only going up 5%, who’s going to make up the difference?” said economist JohnPaul Valdez. “It just isn’t reasonable to expect people to pay that kind of rent.”

With housing being most people’s largest monthly expense, and incomes remaining stagnant, if not decreasing, it’s impossible for many to get by.