Situated within Riverside County in the state of California, the city of Palm Springs is approximately 94 square miles in size and hosts a residential population of nearly 46,000 inhabitants. Thanks to its relatively close proximity to many large metropolitan centers in the region, Palm Springs has been able to attract and maintain a healthy volume of economic and cultural development. Rental properties for lease in Palm Springs, including office space for rent and commercial space for rent, may prove to be advantageous for those seeking to establish a business in California without the need for a large financial investment such as that which would be required in many of the larger cities in the state. The neighborhood zones of Palm Springs are conducive for a wide variety of businesses, including retail establishments, office space and others.
Median household income levels in the city of Palm Springs are nearly $45,000, only slightly below state averages. Palm Springs is primarily considered a middle-income community, with the majority of residents employed in industries such as retail trade, hospitality, construction, and the scientific and technical services. Unemployment levels in Palm Springs are slightly lower than state averages, but remain consistently higher than the overall national levels. Widely considered to be a “desert resort” community, Palm Springs attracts significant tourist traffic each year, which provides an influx of valuable economic support.
Palm Springs first achieved renown as a resort town in the opening years of the 20th century, primarily due to the fact that the area was considered optimal for those with health conditions requiring dry heat. In the 1930s, the area began to expand commercially, with numerous shopping centers and hotels springing up within the city limits. In the 1970s, Palm Springs began to host an influx of retirees, many of whom were drawn here due to the pleasant surroundings and affordable cost of living. Today, tourism remains one of the most significant sources of income for the city.
Many of the business owners seeking properties for lease in Palm Springs are primarily interested in taking advantage of the vast potential offered by the booming tourism trade here. Because of this, it is essential that those who are seeking to establish a commercial operation in Palm Springs find properties within the heavily trafficked downtown area of the city. Although rental rates may be somewhat higher here, the visibility gained is likely to be well worth the additional expenses.