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Sarah Mitchell
Compass Real Estate · ZIP 92240
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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92240 ZIP Code Housing Market
$393,500median sale price
What is the 92240 housing market like right now?
The median home sale price in ZIP code 92240 is $393,500, down 1.6% year-over-year. Homes sell in an average of 83 days with 195 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 92240 ZIP code a buyer's or seller's market?
ZIP code 92240 is currently a leaning buyer's and homes selling in about 83 days. How we determine this →
What are the latest 92240 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $393,500 |
| Median list price | $402,500 |
| Year-over-year price change | -1.6% |
| Average days on market | 83 days |
| Active inventory | 195 listings |
| Sale-to-list price ratio | 98.5% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
The 92240 zip code, located in Desert Hot Springs, CA, is currently classified as a leaning buyer's. The median sale price stands at $393,500, representing a -1.6% change year over year. Homes in this area spend an average of 83 days on the market before going under contract. There are currently 195 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 92240 sits in the Desert Hot Springs, CA area, roughly 1.3 miles from downtown Desert Hot Springs. Because home prices are set street by street, this ZIP can move differently from Desert Hot Springs's citywide averages. The figures below reflect 92240 specifically — drawn from Redfin transactions, U.S. Census data for its 41,615 residents, and Zillow value estimates.
Homes sold
118
Last 12 weeks
Days on market
83
Average pace
Active listings
195
Sale-to-list
98.5%
Below asking
What is driving the 92240 housing market?
The 92240 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a leaning buyer's, homes are selling at approximately 98.5% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 92240 have declined -1.6% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 92240 stands at $376,862, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,978 per month. This gives a price-to-rent ratio of approximately 15.9, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 92240?
Population
41,615
Median income
$54,023/yr
Median age
35.6 years
Owner-occupied
56.8%
College grads
16.6%
Avg commute
35.12 min
What is it like living in 92240?
Zip code 92240 is home to approximately 41,615 residents. The median household income is $54,023 per year, which shapes the types of homes and amenities available in the area. With a median age of 35.6 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 56.8% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 16.6% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 35.12 minutes, which is above the national average and may reflect a suburban or exurban setting where residents trade commute time for more affordable housing or larger lots. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 92240.
Which public schools serve ZIP 92240?
8 schools tracked · 6,353 students
The largest public schools serving ZIP code 92240 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Desert Hot Springs High
Grades 9-12 · 1,718 students
Bella Vista Elementary
Grades K-5 · 756 students
Painted Hills Middle
Grades 6-8 · 744 students
Desert Springs Middle
Grades 6-8 · 740 students
Two Bunch Palms Elementary
Grades K-5 · 697 students
Cabot Yerxa Elementary
Grades K-5 · 673 students
Bubbling Wells Elementary
Grades K-5 · 637 students
Julius Corsini Elementary
Grades K-5 · 388 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 92240
What is the median home price in 92240?
The current median sale price in 92240 is $393,500, based on recent Redfin transaction data. Prices have changed -1.6% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 92240 a buyer's or seller's market?
The 92240 zip code is currently classified as a leaning buyer's. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 92240?
Zip code 92240 has a population of approximately 41,615 residents. The median household income is $54,023 per year. About 56.8% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 92240?
Properties Incorporated provides comprehensive data for 92240 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 92240 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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