Housing Market Overview
Housing market data including home prices, rent costs, affordability metrics, and housing stock characteristics.
$2,000,000
$3,298
Housing Market Overview
| Metric | Palo Alto | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,000,000 | $642,203 | $242,182 |
| Price Trend (Annual %) | 0.0% | 10.0% | 8.2% |
| Median Gross Rent | $3,298 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.7% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
Housing Cost & Rent Trends
Median Home Price Over Time
Palo Alto
California
United States
Median Rent Over Time
Palo Alto
California
United States
Affordability
On average, housing unit costs 10.0 yearly household incomes in Palo Alto.
| Metric | Palo Alto | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,000,000 | $642,203 | $242,182 |
| Median Household Income | $200,000 | $96,718 | $78,145 |
| Price-to-Income Ratio | 10.0 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Home Prices
Household Income
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Household Income Growth %
Housing Cost Growth %
Occupancy & Tenure
| Metric | Palo Alto | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.5% | 51.6% | 58.2% |
| Rental Rate | 41.9% | 40.9% | 31.3% |
| Vacancy Rate | 10.6% | 7.6% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Housing Stock
| Metric | Palo Alto | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1966 | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.0 | 5.5 |