The housing market in 94304 Palo Alto, CA is quite expensive compared to the US average. The median value of homes in Palo Alto is $3,039,000 while the US median value is only $338,100. This represents a difference of over 800%. However, due to its location and prestige, the appreciation rate for homes in this area has outperformed the national average by a wide margin. 1 year house appreciation in Palo Alto has been 13.07%, significantly higher than the national 8.27%. As such, those looking to invest in property should take into account this high appreciation rate when considering where to make their investments.
The median home cost in Palo Alto (zip 94304) is $3,039,000. Home appreciation the last 10 years has been 73.2%. Home Appreciation in Palo Alto (zip 94304) is up 23.8%.
Average Age of Homes
- The median age of Palo Alto (zip 94304) real estate is 25 years old
The Rental Market in Palo Alto (zip 94304)
- Renters make up 75.8% of the Palo Alto (zip 94304) population
- 3.0% of houses and apartments in Palo Alto (zip 94304), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.