Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Palo Alto area can be challenging. Home prices in Palo Alto are now at a median cost of $1,887,180, higher than the California average of $648,235.
The average cost of rent is $2,984/mo in Palo Alto, primarily driven by the current value of real estate in the Palo Alto area. While nearly 42.88% of residents own their homes outright in Palo Alto, 40.18% rent.
Housing affordability isn’t just about home prices, though. The average household income in Palo Alto is $15,989 per month. Households that rent pay about 18.66% of their income on rent here. Palo Alto's most expensive areas are in the central regions, while the cheapest areas are in the northeastern parts of the city.
Nearby Cities
- Stanford, CA: less expensive homes
- East Palo Alto, CA: less expensive homes
- Menlo Park, CA: less expensive homes
- Mountain View, CA: less expensive homes
- Atherton, CA: equally priced homes
- Los Altos Hills, CA: equally priced homes
- Los Altos, CA: equally priced homes
- North Fair Oaks, CA: less expensive homes
- Portola Valley, CA: equally priced homes
- Redwood City, CA: less expensive homes
Cities with Similar Populations
- Huntington, WV: less expensive homes
- Waterloo, IA: less expensive homes
- West Des Moines, IA: less expensive homes
- Bethesda, MD: less expensive homes
- North Port, FL: less expensive homes
- Lakewood, WA: less expensive homes
- The Colony, TX: less expensive homes
- Kokomo, IN: less expensive homes
- Kingsport, TN: less expensive homes
- Hilliard, OH: less expensive homes
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