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Rental Market Trends

Palo Alto, CA

As of July 2025, Palo Alto's rental market is highly competitive, where rentals lease within days, often attracting multiple applications and above-asking offers. Palo Alto's average rent is 15.5% ($390) higher than the California average of $2,521 and 64.0% ($1,136) higher than the U.S. average of $1,775.

Average Rent

$2,911

Monthly ChangeMonth Over Month Change

37.9% ($1776)

Yearly ChangeYear Over Year Change

31.1% ($1315)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$2,279	8.7% ($216)	22.8% ($673)
2 Beds	$2,867	36.7% ($1663)	20.1% ($720)
3 Beds	$3,549	47.5% ($3208)	20.4% ($910)

Nearby Cities	Average Rent	Avg. Rent vs. Palo AltoAverage Rent vs. Palo Alto	Avg. Days on MarketAverage Days on Market
Menlo Park	$3,711	27.5% ($800)	35 days
Mountain View	$3,159	8.5% ($248)	22 days
Redwood City	$2,872	1.3% ($39)	30 days
Sunnyvale	$3,055	4.9% ($144)	26 days
Newark	$2,917	0.2% ($6)	31 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Palo Alto Rental Market FAQs

Explore rental prices, market trends, and availability in Palo Alto, CA.

What is the average rent in Palo Alto, CA?

The average rent in Palo Alto, CA is $2,911 per month.

What is the rental price range for houses in Palo Alto, CA?

Houses in Palo Alto typically rent for between $1,595 and $4,614 per month, with an average of $2,911 per month.

What is the average rent for different bedroom sizes in Palo Alto, CA?

In Palo Alto, the average rent for a 1-bedroom house is $2,279 per month, for a 2-bedroom house, $2,867 per month, and a 3-bedroom house is $3,549 per month.

How do rent prices in Palo Alto, CA compare with the national average?

The average rent in Palo Alto is 64% ($1,136) higher than the national average of $1,775 per month.

How have rent prices in Palo Alto, CA changed recently?

The average rent in Palo Alto has decreased by 37.9% ($1,776) in the last month and decreased by 31.1% ($1,315) over the past year.

How competitive is the rental market in Palo Alto, CA?

The rental market in Palo Alto, CA, is currently highly competitive, where rentals lease within days, often attracting multiple applications and above-asking offers.

How long do rentals stay on the market in Palo Alto, CA?

In Palo Alto, CA, the average rental stays on the market for approximately 24 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Palo Alto, CA?

There are currently 32 rental properties available in Palo Alto, CA.

Can I afford to rent a house in Palo Alto, CA?

Based on the current averages, a household would need an annual income of $114,680 to comfortably afford a 2-bedroom house in Palo Alto.