PALM SPRINGS, Calif. -

The demand for Palm Springs vacation home and condo rentals is growing according to Airbnb, an online marketplace that connects travelers seeking authentic, high-quality accommodations.

The company recently announced its Top Ten Fastest-Growing U.S Destinations for Summer Travel.

According to Airbnb, Palm Springs has transitioned to a year-round destination and bookings are up 334%.

Officials with Airbnb said the top trending destinations were determined by comparing bookings from Labor Day 2013 through April 2014 for travel from Memorial Day through Labor Day 2014, against bookings at the same destinations between Memorial Day and Labor Day last year.

Palm Springs ranked #3 on the company's list:

  1. Nashville
  2. New Orleans
  3. Palm Springs
  4. Portland, Maine
  5. Santa Barbara
  6. Oregon Coast
  7. The Adirondacks
  8. Denver
  9. Coastal Orange County
  10. Boulder

Airbnb's report said, for a city of nearly 50,000 residents, the variety of affordable vacation rentals is incredible. It's estimated that Palm Springs has nearly 1,000 types of vacation rentals in all sizes and styles.

TripAdvisor lists Palm Springs as one of the best resort destinations in the country to rent a vacation home. The city was voted #7 on TripAdvisor's Top 10 Vacation Rental Hot Spots in the U.S. for 2010.