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Palo Alto

Learn about the people, housing, costs and businesses in Palo Alto, California

Median Home$1,945,279
Median Rent$3,256/month
Population67,609
Leading IndustriesProfessional Services · Arts, Food & Hospitality · Healthcare9% professional services
Home Value Growth+5.9% over 2 years
Young Adults23% of residents
Homeowners54% of occupied units
NotableHigh Incomes$216k/year · top 1% nationally
NotableAmenity Score78/100 · highly walkable area
Palo Alto
CA

Frequently Asked Questions

What are today's mortgage rates in Palo Alto?

As of today, the 30-year fixed mortgage rate for Palo Alto is approximately 7.016% (7.049% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Palo Alto?

The median home value in Palo Alto is $1.9M. The median monthly rent is $3,256. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Palo Alto?

Home values in Palo Alto have increased 5.9% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Palo Alto?

Based on a typical all-in ownership cost of $3,603/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $154k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Palo Alto is $216k/year.

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What industries drive the economy in Palo Alto?

The largest employment sectors in Palo Alto are healthcare (30%) and arts, food, and hospitality (28%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.