Report shows Palm Springs rent rising quickly

As Palm Springs continues to grow as a city so do rent prices.

As a single parent with three children, Tracy Roy said the expense of renting in Palm Springs is extreme, especially after her rent went up.

“It was $824 and now it’s $950,” Roy said.

She said she was shocked.

“I had no idea that it was going to go up and go up that drastically. It’s a pretty big percent and it’s becoming very much unaffordable,” Roy said.

A study by rental researcher zumper shows Palm Springs as one of the fastest growing cities in California.

The report shows the median monthly rent for a one bedroom apartment jumped nearly 20 percent in the past year, going up from $800 in 2014 to $950.

Property manager Luca Volpe said his company, O’TL LLC, tried not to increase rates too much.

“Demand has increased and generally speaking the rate is going up,” Volpe said.

He said with the younger generation moving to the desert, the market is more saturated.

It really depends on square footage and location and the kind of complex they are located in. For instance here, for a small two bedroom apartment, we’re asking $1,850,” Volpe said.

But renting in Palm Springs is still more affordable than other cities.

For one bedroom apartments, Palm Springs’ rent ranks 80th in the state.

Even so Roy said she’s ready to make a change.

“I’m looking into purchasing a home so that I’m not throwing away money every month,” Roy said.

Or she’s going to have to consider living in another desert city — something she says she’ll be sad to do.