Palo Alto, CA Rental Market Trends
Highlights
The average rent for an apartment in Palo Alto is $3,163, a 4% increase compared to the previous year, when the average rent was $3,050.
Average Rent in Palo Alto, CA
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $3,163 | 4% | 816 sq. ft. |
The average size for a Palo Alto, CA apartment is 816 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Palo Alto, CA Apartment Rent Ranges
- $1,501-$2,0008%
- > $2,00092%
Palo Alto, CA Rent Trends
| Average Rent | Jan / 2016 | May / 2016 | Sept / 2016 | Jan / 2017 | May / 2017 | Sept / 2017 | Jan / 2018 | May / 2018 | May / 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Palo Alto, CA | $2,919 | $3,061 | $3,137 | $2,980 | $3,156 | $3,050 | $3,036 | $3,034 | $3,163 |
| National | $1,290 | $1,319 | $1,334 | $1,329 | $1,354 | $1,366 | $1,366 | $1,381 | $1,396 |
Average Rent in Palo Alto, CA By Neighborhood
| Average Rent | |||||
|---|---|---|---|---|---|
| Neighborhood | Average Rent | ||||
| Triple El | $2,550 | ||||
| The Greenhouse | $2,550 | ||||
| Palo Verde | $2,550 | ||||
| Leland Manor | $2,550 | ||||
| Garland Park | $2,550 | ||||
| Embarcadero Oaks | $2,550 | ||||
| East Palo Alto | $2,550 | ||||
| Duveneck - St Francis | $2,550 | ||||
| Charleston Gardens | $2,550 | ||||
| Adobe Meadow - Meadow Park | $2,550 | ||||
| Midtown Palo Alto | $2,730 | ||||
| Walnut Grove | $3,332 | ||||
| Ventura | $3,332 | ||||
| St. Claire Gardens | $3,332 | ||||
| Southgate | $3,332 | ||||
| South of Midtown | $3,332 | ||||
| San Alma | $3,332 | ||||
| Palo Alto Orchards | $3,332 | ||||
| Palo Alto Gardens | $3,332 | ||||
| Monroe Park | $3,332 | ||||
| Mayfield | $3,332 | ||||
| Greenmeadow | $3,332 | ||||
| Greendell | $3,332 | ||||
| Green Acres | $3,332 | ||||
| Greater Miranda | $3,332 | ||||
| Fairmeadow | $3,332 | ||||
| Evergreen Park | $3,332 | ||||
| Esther Clark Park | $3,332 | ||||
| Charleston Meadows | $3,332 | ||||
| University South | $3,680 | ||||
| Professorville | $3,680 | ||||
| Old Palo Alto | $3,680 | ||||
| Downtown North Palo Alto | $3,680 | ||||
| Crescent Park | $3,680 | ||||
| Community Center | $3,680 | ||||
| College Terrace | $3,764 | ||||
| Barron Park | $3,764 | ||||
| Palo Alto Hills Golf and Country Club | $3,990 | ||||
| Foothills Open Space Preserve | $3,990 | ||||
The most affordable neighborhoods in Palo Alto are Adobe Meadow - Meadow Park, where the average rent goes for $2,550/month, Charleston Gardens, where renters pay $2,550/mo on average, and Duveneck - St Francis, where the average rent goes for $2,550/mo. If you’re looking for other great deals, check out the listings from East Palo Alto ($2,550), Embarcadero Oaks ($2,550), and Garland Park ($2,550), where the asking prices are below the average Palo Alto rent of $3,163/mo.
The most expensive neighborhoods in Palo Alto are College Terrace ($3,764), Foothills Open Space Preserve ($3,990) and Palo Alto Hills Golf and Country Club ($3,990).
Palo Alto | Rent Comparison by Neighborhood
Rent in Adobe Meadow - Meadow Park is 32% lower than in Barron Park
Adobe Meadow - Meadow Park rent is 19% lower than Palo Alto average
| Average Rent | $2,550 |
|---|
Barron Park rent is 19% higher than Palo Alto average
| Average Rent | $3,764 |
|---|
How Does Palo Alto Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Mountain View | $3,235 | 7% |
| San Jose | $2,730 | 4% |
| Sunnyvale | $2,910 | 6% |
| Palo Alto | $3,163 | 4% |
| Santa Clara | $2,870 | 6% |
| Campbell | $2,527 | 4% |
| Cupertino | $3,370 | 6% |
| Los Gatos | $3,021 | 5% |
| Los Gatos Town | $3,021 | 5% |
| Milpitas | $2,749 | 10% |
| Gilroy | $2,200 | 2% |
For more information about the Palo Alto rental trends, check out our monthly rent report