Just what is Coachella? Coachella has grown to be one of the world's most-loved festivals, which attracts over 200,000 people to the Palm Springs area. Headliners for this year's festival include The Weeknd, Beyoncé, and Eminem, who will perform both weekends on Friday, Saturday and Sunday, respectively. Other performers include SZA and St. Vincent (Friday), Haim and Post Malone (Saturday) and Portugal. the Man and Cardi B (Sunday). A full schedule can be found on Coachella's website.
Here's a summary of what Wikipedia says:
|Coachella Valley Music and Arts Festival|
The annual music and arts festival is held at the Empire Polo Club in Indio, California, about 30 minutes from Palm Springs, and showcases popular and established musical artists, as well as emerging artists and reunited groups. Coachella is not only one of the largest, but also one of the most famous, and most profitable music festivals in the United States and all over the world. The 2017 festival was attended by 250,000 people and grossed $114.6 million. According to a 2012 economic impact study, Coachella brought $254.4 million to the desert region that year; and has becoming one of the biggest events for the Palm Springs area and the entire Coachella valley.
From delicious food to world class art, Coachella offers numerous experiences to enjoy along with the music.
In addition to hosting live music, Coachella is a showcase for visual arts, including installation art and sculpture. Many of the pieces are interactive, providing a visual treat for attendees. Each year, the art grows larger and more outrageous. A few years ago, Phillip K Smith installed a mirror clad sculptural piece which proved to be the hottest selfie backdrop. 
As the festival grows every year, it has also become the place to see and be seen. Check any Instagram or Facebook feed in April, to see a-list celebs partying with the festival goers throughout the Coachella weekend. Coachella has also developed its own fashion style. Coachella has become known for the variety of distinctive apparel worn by attendees, which primarily include eclectic combinations of colors, materials, and ethnic borrowings.
What has it done for real estate in Palm Springs? The stereotype of Palm Springs being a quiet retirement community, has changed to be a hip hangout for millenials. Luxury hotels are being built in the new downtown Palm Springs; shops catering to a younger crowd are opening; the local Starbucks is flooded with a new generation of visitors and residences alike, that have rediscovered the desert.
Real estate prices have soared as well- over 10% in the last year- part of this can be attributed to the new excitement created by the yearly Coachella crowd. Vacation rental prices spike during Coachella spike, due to demand and popularity. High-end properties can rent for $150,000/weekend. However If you can't make it out to the desert this year, you can still catch select sets via the official Coachella live stream on YouTube during the first weekend.
Coachella adds to the draw of Palm Springs- small town, internationally famous! And just another reason to want to enjoy the excitement of living here year round. Life is just better here.