Coachella Valley, CA

The Coachella Valley is a high-desert valley sitting on the edge of the peaceful Santa Rosa Mountains in Southern California’s Riverside County. It is a popular destination for snowbirds as it keeps a temperate climate during the wintertime. It’s best known for the Coachella Valley Music and Arts Festival and the Stagecoach Country Music Festival. Because it is a major winter destination and the popular festivals, the valley's population fluctuates from almost 500,000 in April to around 200,000 in July and around 800,000 by January. It is estimated that 3.5 million conventioneers and tourists visit the valley each year. With the limited number of vacation rentals available, inventory is low and the rates are extremely expensive during these festivals which presents an unique opportunity to provide housing for the visitors and workers. According to the LA Times, corporate investors are buying record number of residential properties in the Coachella Valley. Especially last year. Due to Covid-19, Coachella Valley real estate sales boomed, driven partly by all the buyers fleeing densely populated hotspots like Los Angeles. The median price [at the end of 2020] was $520,000, up 22% from the previous year. Unit sales rose 13% and total sales in dollar jumped to a record-setting $6.5 billion. With the ability to work remotely, many folks have been fleeing dense and depressed cities around the United States and landing in places like the Coachella Valley — open, spacious, and active.