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Average Rent in Palo Alto, CA

Home  »  CA  »  Palo Alto

Current Versus Historical Palo Alto, CA Rents

Palo Alto rentals average $4,400 for a 2-bedroom rental to $0 for a 4-bedroom rental. The median price of all currently available listings is $5,000, or roughly $6 per square feet.
For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $153 (-7.87%) year-over-year from $1,948 to $1,795. 1-bedroom rentals prices have decreased by $430 (-14.68%) year-over-year from $2,930 to $2,500. 2-bedroom rentals prices have decreased by $377 (-9.02%) year-over-year from $4,177 to $3,800. 3-bedroom rentals prices have increased by $637 (10.86%) year-over-year from $5,863 to $6,500. 4-bedroom rentals prices have increased by $2,675 (28.69%) year-over-year from $9,325 to $12,000. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 4.98% this month. 1-bedroom rents have gone down by 7.48% this month. 2-bedroom rents have gone down by 0.78% this month. 3-bedroom rents have gone up by 6.00% this month. 4-bedroom rents have gone up by 30.93% this month.
Beds
Price / Sqft
 Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
2 BR $4.70 $3,800 $4,177 (-9.02%) $3,522 (7.90%)

Historical Rents in Palo Alto, CA

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Palo Alto

There are a total of 2 cities nearby Palo Alto. The average rent in Palo Alto is currently $2,971 per month. A total of 2 cities nearby have an average rent lower than that. Our records show that Santa Clara, CA, with an average rent of $2,964, is the most affordable city nearby. In contrast, the most expensive city near Palo Alto, CA is San Mateo, CA. Monthly rents here are on average $2,978 per month.

Let's compare Palo Alto, CA's rent against other top cities nearby by bedroom size. One bedrooms are about inf% more affordable. Two bedrooms in Palo Alto, CA are about 19.93% more expensive. Finally, rent for three bedrooms are about inf% more affordable. Want more information? Check out the top 2 cities near Palo Alto, CA in the following chart.
City Studio 1 Bed 2 Bed All
Santa Clara, CA N/A $2,550 $3,527 $2,964
San Mateo, CA N/A $2,681 $3,519 $2,978

Top Neighborhoods Near Palo Alto



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near Palo Alto

The average rent for rentals in these counties is $3,427. That's roughly around $4 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is San Mateo, CA. It's average rent per month is $3,427. Vice versa, with an average rent of $3,427, San Mateo, CA is the most expensive county by Palo Alto, CA.

Typically, rent for studios in Palo Alto, CA is inf% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Palo Alto, CA is inf% more affordable than other counties nearby. Finally, rent for two bedrooms in Palo Alto, CA is 13.74% more expensive than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
San Mateo, CA $2,678 $2,778 $3,796 $3,427

Top Zipcodes Near Palo Alto



You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All

Frequently Asked Questions - Palo Alto Average Rents

What is the average rent price in Palo Alto, CA?
The average monthly rental price for Palo Alto, CA apartments for rent is approximately $5,000. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Palo Alto, CA rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Palo Alto, CA.
How much is a studio apartment in Palo Alto, CA?
The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 0 studio apartment listings currently available for rent in Palo Alto.
How much is a one bedroom apartment in Palo Alto, CA?
The average monthly rental price for one bedroom apartments is $0 and an average price per square feet of $0.00. There are a total of 0 one bedroom apartment listings currently available for rent in Palo Alto.
How much is a two bedroom apartment in Palo Alto, CA?
The average monthly rental price for two bedroom apartments is $4,400 and an average price per square feet of $4.70. There are a total of 2 two bedroom apartment listings currently available for rent in Palo Alto.
How have rent prices in Palo Alto, CA changed this year?
Rent prices for rentals in Palo Alto, CA can fluctuate yearly. Specifically, studio rental prices have changed by -0.08%, one bedroom rental prices have changed by -0.15%, two bedroom rental prices have changed by -0.09%, and three bedroom rental prices have changed by 0.11% year-over-year.
What is a reasonable rent price in Palo Alto, CA?
A reasonable rent price in Palo Alto, CA is around $4,000/month. You can search for these reasonably priced rental listings on RentHop.
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