Similar to nearby areas, it's substantially more expensive compared to the US as a whole. It is significantly more expensive compared to the city of San Francisco.
Home prices
The median home value in Palo Alto is $2,000,001. Compared to other places in this area it is is very similar.It is approximately $1,782,501 (819%) higher compared to the rest of the nation, and compared to the city of San Francisco is roughly $902,201 (82%) higher.
Rents
Palo Alto's median rent is $2,569 a month. It is approximately $224 (8%) lower in comparison to its surrounding areas.Compared to the nation as a whole it is about $1,507 (141%) higher, and compared to the city of San Francisco it is roughly $674 (35%) higher.
Nearby places
Los Altos Hills
Los Altos Hills is Palo Alto's neighbor to the south. Housing prices there are similar. The cost of the median home in Los Altos Hills is $2,000,001, which is very similar to Palo Alto. Its rents are fairly similar. The median monthly rent in Los Altos Hills is $2,674, which works out to $105 (3%) higher than Palo Alto.
Stanford
Stanford is Palo Alto's neighbor to the north. Housing prices there are pretty similar. The median home cost in Stanford is $2,000,001, which is very similar to Palo Alto. Its rents are substantially less expensive. The median rent in Stanford is $1,617 a month, which comes out to $952 (58%) lower than Palo Alto.
Los Altos
Los Altos is Palo Alto's neighbor to the southeast. Real estate prices there are pretty similar. The median home in Los Altos is valued at $2,000,001, which is very similar to Palo Alto. Rent there is a bit more expensive. In Los Altos the median rent is $3,188 a month, which is $619 (19%) higher than Palo Alto.
Portola Valley
Portola Valley is Palo Alto's neighbor to the west. The real estate prices there are fairly similar. The median home in Portola Valley costs $2,000,001, which is very similar to Palo Alto. Rents there are a bit more expensive. Portola Valley's median rent is $2,986 a month, which is $417 (13%) higher than Palo Alto.
Loyola
Loyola is roughly 3 miles southeast of Palo Alto. Housing prices there are pretty similar. The median home in Loyola costs $2,000,001, which is very similar to Palo Alto. Rents there are a bit more expensive. Loyola's median rent is $3,501 a month, which works out to $932 (26%) higher than Palo Alto.
