Housing
Home prices and rent in Palo Alto
Median home values, rents and incomes from the U.S. Census Bureau, compared with California and the U.S.
Census geography: Palo Alto city, California. These survey estimates are not current listing prices.
Palo Alto vs. California and the U.S.
| Palo Alto | California | U.S. | |
|---|---|---|---|
| Median home value | $2,000,000+ | $734,700 | $332,700 |
| Median rent (monthly) | $3,484 | $2,036 | $1,413 |
| Median household income | $231,101 | $99,122 | $80,734 |
| Homes owned by occupants | 55% | 56% | 65% |
| Median year built | 1963 | 1976 | 1980 |
Ten years of change
| 2014 | 2019 | 2024 | |
|---|---|---|---|
| Median home value | $1,000,000+ | $2,000,000+ | $2,000,000+ |
| Median rent (monthly) | $2,000+ | $2,569 | $3,484 |
| Median household income | $126,771 | $158,271 | $231,101 |
Fair Market Rents (HUD, fiscal year 2027)
San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area · Santa Clara County. HUD's payment benchmarks for housing programs: typical gross rent (rent plus utilities) for a recent mover, not a listing or an asking rent.
Large figures are the metro-area Fair Market Rent; green figures are the range across 4 Palo Alto ZIP codes, where HUD sets Small Area Fair Market Rents.
Income limits (HUD, fiscal year 2026)
Area median family income: $205,500. Households at or under these incomes can qualify for many housing programs; check each program's own rules.
| Household size | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Low income (80%) | $113,700 | $129,950 | $146,200 | $162,400 | $175,400 | $188,400 | $201,400 | $214,400 |
| Very low income (50%) | $71,950 | $82,200 | $92,500 | $102,750 | $111,000 | $119,200 | $127,450 | $135,650 |
| Extremely low income (30%) | $43,200 | $49,350 | $55,500 | $61,650 | $66,600 | $71,550 | $76,450 | $81,400 |
Source: U.S. Department of Housing and Urban Development, Fair Market Rents and Income Limits, checked October 9, 2026.
Questions
What is the median home value in Palo Alto?
$2,000,000+, according to the Census Bureau’s 2024 American Community Survey (5-year estimates), compared with $734,700 in California and $332,700 nationally.
How much is rent in Palo Alto?
Median gross rent (rent plus utilities) is $3,484 a month, versus $2,036 statewide.
What is fair market rent in Palo Alto?
HUD's fiscal year 2027 Fair Market Rent for the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area is $2,458 for a studio, $2,778 for one bedroom and $3,272 for two bedrooms; across Palo Alto's ZIP codes, two-bedroom values run $3,390 to $3,880. These are HUD program benchmarks, not asking rents.
Are these current market prices?
No. They are survey medians from the Census Bureau, based on a five-year survey period, so they lag today’s listings. They are the most consistent way to compare places and track change over time.
U.S. Census Bureau, American Community Survey 5-year estimates (2014, 2019, 2024), Palo Alto city, California. Values are estimates with margins of error.