Palo Alto, CA with zip code 94301 is an expensive place to live. The 2 bedroom rent averages around $3,290 and groceries cost more here than the national average of 100 with an index of 128. Despite the high cost of living, Palo Alto is a great place to live due to its proximity to Silicon Valley and technology companies such as Google, Apple, HP Inc., LinkedIn and Tesla Motors located nearby. There are also plenty of amenities nearby such as parks, restaurants and shopping centers. Palo Alto provides a safe environment for families with excellent schools too. It's no surprise that many industries have chosen Palo Alto for their headquarters because it offers its residents not just luxury but also convenience and opportunity.
Palo Alto (zip 94301) has an unemployment rate of 3.5%. The US average is 6.0%.
Palo Alto (zip 94301) has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 40.5%, which is higher than the US average of 33.5%.
Tax Rates for Palo Alto (zip 94301)
- The Sales Tax Rate for Palo Alto (zip 94301) is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Palo Alto (zip 94301) is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Palo Alto (zip 94301)
- The average income of a Palo Alto (zip 94301) resident is $95,972 a year. The US average is $28,555 a year.
- The Median household income of a Palo Alto (zip 94301) resident is $184,932 a year. The US average is $69,021 a year.