If you are looking for a home here in The Desert (Palm Springs, Rancho Mirage, Palm Desert, Indian Wells or La Quinta) you will be AMAZED at the prices!!
I wouldn't even want to quote you an average price because you can get some fabulous condo's as little as $150,000 thru the mid range homes at $500,000 to the more expensive homes of over one million dollars.
Rentals for one bedroom apartments still will run you probably at least $1000 per month.
So with the right loan why would you want to rent when you could buy a property and pay close to the same amount.
Of course I wouldn't want to be misleading. You still would be responsible for Taxes and possibly Homeowners Dues, but once again, with the right loan, you would be surprised at how closely your rent payment could compare to your purchase payment.
I would love to help you research this further.
Please don't hesitate to contact me further.
Michele M Mayer