There are currently 18,402 real estate properties in Palo Alto, CA, with a median automated valuation model (AVM) price of $3,213,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Palo Alto, CA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Palo Alto, CA, is $3,309,916.00, with the most expensive house in Palo Alto, CA, topping out at $52,278,900.00 and the cheapest home in Palo Alto, CA, clocking in at $16,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Palo Alto, CA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Palo Alto, CA, is on a rollercoaster ride. The average rent price in Palo Alto, CA, is $4,919.00. Indeed, when looking to rent in Palo Alto, CA, you can expect to pay as little as $2,100.00 or as much as $8,860.00, with the average rent median estimated to be $4,840.00. The good news is that finding an affordable and desirable property to rent in Palo Alto, CA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Palo Alto is located in Santa Clara, California, with an estimated municipal population of 65,364 residents. All of the best foreclosed homes for sale in Palo Alto are located in the following zip code areas on Foreclosure.com: 94022 95033 94303 94301 94306 94304 94302. The estimated population per square kilometer (.62 miles) in Palo Alto is 1,058.
So, about how much do homes cost in Palo Alto? The most recent median value of resident-owned homes in Palo Alto is 2,000,001. An estimated 54.6 percent of households in Palo Alto own their homes, with an average family size of 3.06. The median household income in Palo Alto is 158,271, with65.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Palo Alto, the median commute time of resident workers (in minutes) is 25.5. And last, but certainly not least, are you looking for homes to rent in Palo Alto? If so, the average rent price paid by renters in Palo Alto is 2,569, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Palo Alto, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Palo Alto is 41.8, split between 48.5 percent male versus 51.5 female. The percentage of residents who report being married in Palo Alto is 58.1, with an average family size of 3.06.
The percentage of residents who report their race in Palo Alto is as follows:
| White | 58.9% |
| Black / African American | 1.8% |
| Asian | 32.5% |
| American Indian / Alaskan Native | 0.3% |
| Native Hawaiian / Other Pacifc Islander | 0.1% |
| Multi-racial | 5% |
| Other | 1.3% |
Looking for family-friendly neighborhoods in and/or near Palo Alto? Or maybe you are searching for 55+ active adult communities in and/or near Palo Alto?
The percentage of residents who report their age in Palo Alto is as follows:
| Under 10 | 10.6% |
| Aged 10-19 | 13.8% |
| 20s | 10.5% |
| 30s | 12.3% |
| 40s | 14.5% |
| 50s | 13.3% |
| 60s | 10.4% |
| 70s | 7.8% |
| 80+ | 6.8% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Palo Alto with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Palo Alto.
How do you know that living in -- or moving to -- Palo Alto is right where you need to be? Perhaps you grew up in Palo Alto or already live nearby; therefore, the decision to buy a home in Palo Alto is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Palo Alto for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Palo Alto:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Palo Alto.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Palo Alto can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Palo Alto, meanwhile, can field multiple offers from more qualified buyers.
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