Palo Alto, CA—94301
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Palo Alto, CA
Home Price Trends — Palo Alto, CA
As of Oct '25, the median home price in Palo Alto, CA is $4,111,000, with a year-over-year change of 0.5%. This indicates that home prices in Palo Alto, CA are flat. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $4,111,000 | 0.5% |
| Single Family | $4,480,000 | 0.3% |
| Condos | $1,488,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $1,349,000 | -0.5% |
2 Bed | $2,116,000 | 1.5% |
3 Bed | $3,728,000 | 1.2% |
4 Bed | $4,953,000 | 0.4% |
| 5 Bed | $6,444,000 | -0.3% |
% of Housing Stock
Rental Trends — Palo Alto, CA
As of July '25, Rentcast reports the average rent in Palo Alto, CA is $4,500, with a year-over-year rent change of 0.9%. Per bedroom, the median rent as of July '25 in Palo Alto, CA is studios: $3,140, 1-bedrooms: $3,720, 2-bedrooms: $4,870, 3-bedrooms: $7,330, 4-bedrooms: $9,500. The most common rental property sizes in Palo Alto, CA are 1-bedroom and 2-bedroom, accounting for 31.9% and 28.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,010 | $4,500 |
| Studio Rent | $3,540 | $3,140 |
| 1 Bed Rent | $3,790 | $3,720 |
| 2 Bed Rent | $4,900 | $4,870 |
| 3 Bed Rent | $7,450 | $7,330 |
| 4 Bed Rent | $9,000 | $9,500 |
% of Rental Stock
Property Listings — Palo Alto, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Palo Alto, CA is 31. This is a decrease of -8.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 4.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $5,470,000 | 9.0% |
Listing Count | 45 | -19.0% |
| Listings as % of Homes | 0.3% | -19.0% |
Days on Market | 31 | -8.0% |
Demographics — Palo Alto, CA
As of the latest ACS Survey released in 2023, Palo Alto, CA has a population of 17,100, which has remained stable by -0.4% over the past 5 years. Palo Alto, CA is a moderately popular place for families, as children make up 19.4% of the population. The area has a highly educated workforce, with 83.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 40.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,100 | -0.4% |
% Under 18 | 19.4% | -4.9% |
% Seniors | 21.9% | 2.3% |
% WFH | 40.4% | 257.5% |
% w/ College Degree | 83.3% | 1.8% |
As of the latest ACS Survey released in 2023, Palo Alto, CA is a predominantly white area, with 57.5% of the population identifying as white. The white population has shrunk by 11.5% in the last 5 years. The second most common race or ethnicity in Palo Alto, CA is asian, making up 26.1% of the population. Foreign-born residents account for 32.1% of the population in Palo Alto, CA, and this percentage has increased by 18.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 57.5% | -11.5% |
% Black | 2.2% | 15.8% |
% Hispanic | 6.0% | 15.4% |
% Asian | 26.1% | 18.6% |
% Foreign Born | 32.1% | 18.9% |
Mortgage and Risk — Palo Alto, CA
According to HUD data as of 2023, there were 127 mortgage originations in Palo Alto, CA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in Palo Alto, CA. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 127 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Palo Alto, CA
As of 2024, the percent of homes in Palo Alto, CA under the Section 8 program is 12.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Palo Alto, CA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 475 |
Total Units Section 8 | 425 |
% Rentals under Section 8 | 12.3% |
% Occupied Section 8 | 96.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$440 | $3,790 | $3,350 |
| 2 Bedroom | -$1,020 | $4,900 | $3,880 |
| 3 Bedroom | -$2,410 | $7,450 | $5,040 |
| 4 Bedroom | -$3,510 | $9,000 | $5,490 |
Affordability — Palo Alto, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 16.7 |
| Median Home Price | $4,111,000 |
| Median Household Income | $236,000 |