Cost of Living in Palm Springs, Florida: Housing, Insurance, Taxes and Everyday Expenses

The cost of living in Palm Springs, Florida is low by Palm Beach County standards, and that is the main reason buyers look here. This is the Village of Palm Springs in central Palm Beach County, not the desert city in California. It sits southwest of West Palm Beach, east of Greenacres and north of Atlantis, close to I-95. In this guide we add up what an owner pays: the home, property tax, insurance, condo or HOA fees, utilities and daily costs. We use verified figures, and we point you to the real number when a cost depends on the home.

Key takeaways

• According to Pure Equity's MLS data as of October 1, 2026, the median list price of active residential listings in Palm Springs was $157,900, or $189 per square foot.
• The village's total 2025 property tax rate was 19.4083 mills, per the county Property Appraiser.
• The village runs its own water and sewer utility, and electric service comes from either FPL or Lake Worth Beach Electric Utilities depending on the street.
• Condo fees and reserve rules matter a lot for buyers looking at condos and villas in older complexes.
• The median asking rent for active rentals was $2,100 a month.

Cost of living in Palm Springs at a glance

Owner costs here come down to a few big lines. The home and the loan come first. Then come property tax, insurance and any condo or HOA fee. Utilities and upkeep follow.

Here is the market snapshot. According to Pure Equity's MLS data as of October 1, 2026, Palm Springs had 179 active residential listings. The median list price was $157,900, and the median asking price per square foot was $189. Active listings had been on the market for an average of 119 days. Keep in mind that these are asking prices, not sale prices. Our Palm Springs area page updates them nightly.

Because the median mixes condos and houses, a low figure like this usually reflects a large share of condo listings. So compare by property type before you set a budget. For a county view, the August 2026 Miami Realtors report put Palm Beach County's single-family median sale price at $650,000 and the condo and townhouse median at $300,000.

Homes that shape the cost of living in Palm Springs

The village began as a 700-acre dairy farm, and developers turned the land into homes. Palm Springs was chartered in 1957, and about 800 homes had been built by August 1958, according to the village. The 2020 Census counted 26,890 residents.

As a result, much of the housing is older. You will find modest single-family homes on village streets, plus condos, villas and townhomes in established complexes. Congress Avenue runs near the eastern edge, Lake Worth Road crosses the south end, and Forest Hill Boulevard marks the north.

Older homes can be good value, but they also bring older roofs, plumbing and windows. So the inspection matters as much as the price.

Property taxes and the cost of living in Palm Springs

In Florida, the tax bill equals taxable value times the total millage rate. One mill is $1 of tax per $1,000 of taxable value.

For 2025, the Palm Beach County Property Appraiser lists a total of 19.4083 mills for Palm Springs. The village's own share was 3.5000 mills for operations plus 0.1922 for debt service. The county, the school board and the county fire-rescue district make up most of the rest. Smaller levies go to the water management district, the Children's Services Council and the Health Care District.

Since the village runs its own library, its tax code does not include the county library levy. For comparison, the 2025 totals were 20.4468 mills in West Palm Beach and 18.1852 in Royal Palm Beach.

Sample property tax bills

• $150,000 of taxable value: about $2,911 a year, or $243 a month.
• $250,000 of taxable value: about $4,852 a year, or $404 a month.
• $350,000 of taxable value: about $6,793 a year, or $566 a month.

These numbers leave out non-ad valorem charges such as solid waste, which appear as separate lines. Also, the county usually resets assessed value after a sale. So do not rely on the seller's current bill.

Homestead savings

If the home will be your main residence, file for homestead by March 1. The first $25,000 exemption applies to all taxes. A second exemption applies to non-school taxes, and for 2025 its maximum was $25,722. On a lower-priced home, that can cut the bill by a large share.

After that, the Save Our Homes cap limits yearly growth in assessed value to 3% or the change in the Consumer Price Index, whichever is lower. The cap was 2.9% for 2025 and 2.7% for 2026, according to the Florida Department of Revenue.

Condo and HOA fees in the cost of living in Palm Springs

For many buyers in Palm Springs, the condo fee is the line that decides the budget. A low price with a high monthly fee can cost more over time than a pricier home with no association. So always compare total monthly cost, not price alone.

Florida's condo safety laws add another layer. Buildings three stories or taller need milestone structural inspections. Associations must also complete structural integrity reserve studies and fund required reserves. In older complexes, that can mean fee increases or special assessments.

Before you make an offer, ask for these documents:

• The current budget and the reserve schedule.
• The most recent reserve study and any inspection reports.
• Board minutes from the last year or two.
• Any notice of a pending special assessment.

For a broader view, see our guide on whether HOA fees are worth it.

Insurance costs when living in Palm Springs

Insurance depends on the roof, the build type, the flood zone and the home's claims history. Because those differ so much, we do not quote an average. Get a quote on the exact address during your inspection period.

• Order a wind mitigation inspection. The state's Uniform Mitigation Verification form is valid for up to five years and can earn premium credits.
• Check the flood zone on the FEMA Flood Map Service Center, since the area has canals and lakes.
• If your policy is with Citizens, plan for flood coverage. Citizens requires it for all personal residential wind policies by January 1, 2027.

Condo owners usually need an HO-6 policy for the interior, while the association insures the building. On an older single-family home, roof age often drives the quote more than anything else.

Utility costs in Palm Springs

The Village of Palm Springs Utilities Department provides drinking water and sewer service. It serves about 45,000 residents in its service area, which reaches past the village limits. The village does not treat its own wastewater, so it pumps it to the Lake Worth Beach and Palm Beach County systems.

Electric service comes from two providers. Some streets get power from Florida Power and Light, while others are served by Lake Worth Beach Electric Utilities under a franchise agreement that runs through 2033. Rates can differ between the two. So ask the seller which provider serves the home and request 12 months of bills.

Sample budgets for the cost of living in Palm Springs

These examples show how the costs add up. We use the 2025 tax rate and leave the other lines for your real quotes.

Sample budget for a condo owner

• Property tax on $150,000 of taxable value: about $243 a month.
• Condo fee: from the association's current budget.
• HO-6 and flood insurance, if needed: from your agent's quotes.
• Electric and internet: from the seller's bills.
• Mortgage payment, if any: from your lender's loan estimate.

Sample budget for a single-family owner

• Property tax on $350,000 of taxable value: about $566 a month.
• Homeowners and flood insurance: from quotes on the address.
• Village water and sewer, plus electric: from the seller's bills.
• Lawn care and a repair reserve: from vendor quotes and your own plan.

Also plan for repairs each year. Heat, humidity and storm season wear down roofs and air conditioners in every South Florida home.

How the cost of living in Palm Springs compares nearby

Palm Springs is one of the lower-priced places in the central county. According to Pure Equity's MLS data as of October 1, 2026, the median list price was $252,450 in Greenacres and $315,000 in West Palm Beach, compared with $157,900 here. Meanwhile, median asking rent was $2,100 in Palm Springs, the same as in Greenacres.

The trade-off is age and fees. Much of the stock is older, and many lower-priced units carry condo fees. Still, the central location keeps commutes short to West Palm Beach, Lake Worth Beach and the airport.

Frequently asked questions

Is this the Palm Springs in California?

No. This guide covers the Village of Palm Springs in Palm Beach County, Florida. It was chartered in 1957 and sits just southwest of West Palm Beach.

What is the property tax rate in Palm Springs, Florida?

The total 2025 rate was 19.4083 mills, per the county Property Appraiser. Your bill depends on taxable value, exemptions and any non-ad valorem charges.

Who provides water and power in Palm Springs?

The village's own utility department provides water and sewer service. Electric service comes from either FPL or Lake Worth Beach Electric Utilities, depending on the address.

Why is the median list price so low?

The median mixes condos and houses, and many active listings are lower-priced units. So a single-family home will usually list well above $157,900. Ask your agent to split the numbers by property type.

Sources

• Palm Beach County Property Appraiser, 2025 tax authority codes and total millage
• Palm Beach County Property Appraiser, 2025 final millage rates
• Florida Department of Revenue, Save Our Homes cap by year
• Homestead exemption, Palm Beach County Property Appraiser
• Miami Realtors, Palm Beach County August 2026 report
• Village of Palm Springs, about your utilities
• Florida Municipal Electric Association, Lake Worth Beach utility service area
• Citizens Property Insurance, flood insurance requirement
• Florida Office of Insurance Regulation, wind mitigation resources
• FEMA Flood Map Service Center
• Florida Statutes s. 553.899, milestone inspections
• Florida Statutes s. 718.112, condo reserve studies
• Village of Palm Springs, About Palm Springs (history and boundaries)
• BEBR, University of Florida, Florida Population: Census Summary 2020

This article is general information, not legal, tax, insurance or financial advice. Confirm current rates, fees and rules with the Property Appraiser, the association, your insurance agent and your lender.

Own a home or condo in Palm Springs? Learn what it could sell for with a free home valuation. Thinking of moving to the village instead? Request a free relocation consultation for Palm Springs, and we will help you compare complexes, fees and true monthly costs. Contact Pure Equity.