Housing costs in Palo Alto?
A typical home costs
$3,107,600, which is 819.1% more expensive than the national average of
$338,100 and 323.7% more expensive than the average California home, at
$733,500. Renting a two-bedroom unit in Palo Alto costs
$3,220 per month, which is 125.2% more than the national average of
$1,430 and 33.2% more than the state average of
$2,150.
Can I afford Palo Alto?
To live comfortably in Palo Alto, California, a minimum annual income of
$595,440 for a family, and
$110,000 for a single person is recommended.
What does A.I. say about Palo Alto?
Palo Alto, California has a cost of living index rating greatly higher than that if the nation at 156 due mostly to its very high housing costs making up 47%, transportation at 12%, groceries (14%), utilities (9%) and healthcare making up 13%. Although utility costs remain relatively high due largely to expensive power sources such as coal or nuclear energy most other categories are either on par or even above average providing citizens with an overall extremely high cost of living compared with almost everywhere else in America whilst having access similar amenities found citywide from whatever municipality they call home.