Palo Alto renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.
Rental Price Key
On average, the cost of rent in Palo Alto is about $3,073 per month. This puts it in the 98th percentile compared to the state average cost of rent, which is $1,931. Households in Palo Alto have a median income of $14,264 per month so the average renter in Palo Alto is spending roughly 22% of their earnings on housing.
Nationally, and in Palo Alto, home values are the data point most closely correlated with the cost of rent. The median price of a home in Palo Alto is $2,385,604 right now, which is higher than cities nearby, meaning that rents in Palo Alto also tend to be higher versus these nearby cities.
Higher rent prices are common in the northern parts of Palo Alto while lower rent rates are often available in northwestern areas.
Nearby Cities
- Stanford, CA: less expensive rent prices
- East Palo Alto, CA: less expensive rent prices
- Menlo Park, CA: less expensive rent prices
- Mountain View, CA: less expensive rent prices
- Atherton, CA: more expensive rent prices
- Los Altos Hills, CA: less expensive rent prices
- Los Altos, CA: more expensive rent prices
- North Fair Oaks, CA: less expensive rent prices
- Portola Valley, CA: more expensive rent prices
- Redwood City, CA: less expensive rent prices
Cities with Similar Populations
- Harrisonburg, VA: less expensive rent prices
- Bozeman, MT: less expensive rent prices
- Covina, CA: less expensive rent prices
- Poinciana, FL: less expensive rent prices
- Hickory, NC: less expensive rent prices
- Mount Vernon, NY: less expensive rent prices
- South Jordan, UT: less expensive rent prices
- South San Francisco, CA: less expensive rent prices
- Troy, NY: less expensive rent prices
- Cheektowaga, NY: less expensive rent prices
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