Cost of Living in Palo Alto, CA
Population 67,237 · Census ACS 2020–2024 5-year estimates
The median rent in Palo Alto, CA is $3,484/month, 71% higher than the California median and 147% higher than the U.S. median. The median home value is $2,000,001, 501% higher than the national median. Households earn a median of $231,101 a year, 133% higher than the state median.
Affordability
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Palo Alto vs. California vs. U.S.
| Palo Alto | California | U.S. | |
|---|---|---|---|
| Median rent | $3,484 | $2,036 | $1,413 |
| Median home value | $2,000,001 | $734,700 | $332,700 |
| Median household income | $231,101 | $99,122 | $80,734 |
| Homeownership rate | 54.6% | 55.9% | 65.2% |
| Bachelor's degree or higher | 82.3% | 37.1% | 35.7% |
| Poverty rate | 6.0% | 12.0% | 12.5% |
| Unemployment rate | 3.9% | 6.6% | 5.2% |
| Work from home | 35.4% | 17.2% | 15.1% |
| Median age | 43.6 | 37.9 | 38.9 |
FAQ
What is the average rent in Palo Alto, CA?
The median gross rent in Palo Alto, CA is $3,484 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Palo Alto, CA?
Using the common 30% rule, renting a median-priced home takes about $139,360 a year in gross income.
Is Palo Alto, CA expensive to live in?
Rent there is 147% higher than the U.S. median, and the median home costs about 8.7 times the median household income.
Other cities in California
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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