Consider exploring desert towns as an alternative to waterfront properties, whether you’re searching for a vacation home, planning a full-time move, or looking for an investment opportunity. Before making any decisions, it’s important to research factors such as average home prices, rent prices, and overall quality of life.
Real estate experts recommend looking into desert properties for potential investment opportunities. In places like Palm Springs, California, the real estate market is thriving, attracting retirees and those seeking a resort lifestyle. Prices in the Coachella Valley have been steadily increasing, making it a desirable location for remote workers looking to escape crowded cities.
While desert real estate prices vary by location, they generally offer more affordability compared to major cities. For example, Phoenix has a median home price of $450,000, making it an attractive option for those seeking lower housing costs. On the other hand, Palm Springs is known for luxury properties and higher price points.
If you’re considering purchasing a desert property for rental income, locations like Las Vegas and Tucson offer opportunities for consistent returns. Rental prices in Las Vegas average around $1,500 per month, while Tucson provides affordable housing options for both buyers and renters.
Overall, desert real estate presents a range of opportunities for investors and homeowners alike, offering different price points and rental income potential depending on the location. Conducting thorough research and seeking advice from real estate professionals can help you make informed decisions in this growing market.
“Within desert towns, a diverse population comprising students, retirees, and professionals can often be found in search of rental properties,” stated the expert. Ultimately, the decision to invest in property in a desert town is a personal one. While not all desert locales offer affordable real estate opportunities, many do.
Similar to considering any other property, it is essential to reflect on your preferences for a potential desert residence. This thoughtful process can assist in selecting a suitable location and evaluating if local housing prices, along with other financial factors, align with your budget.
Editor’s note: Median home prices referenced in this article were obtained from Redfin and are current as of January 15, 2025.
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This article was first published on GOBankingRates.com: Should You Invest In Real Estate Property in a Desert Town? Experts Share Their Perspectives.
