Fayette Arms Apartments
2680 Fayette Dr,
Mountain View, CA 94040
1-2 Beds | $3,152 - $3,415
Rental Market Trends in Palo Alto, CA
Updated July 2026
The average rent in Palo Alto, CA is $3,133/month.
Rent in Palo Alto is 88% higher than the national average rent of $1,663/month, making this one of the more expensive cities statewide.
$3,133/month
Average Rent
636 Sq Ft
Average Size
+4.3%
Change / Year
817
Available Apartments
Palo Alto rent varies by unit size and layout:
- Studio apartments in Palo Alto average $3,145 per month.
- One-bedroom apartments in Palo Alto average $3,133 per month.
- Two-bedroom apartments in Palo Alto average $3,943 per month.
- Three-bedroom apartments in Palo Alto average $5,015 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Palo Alto, CA?
In the past year, rent has increased by 4.3%, which averages out to $136 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Palo Alto, CA
July 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
1%
$700 - $1,000/month
1%
$1,001 - $1,500/month
7%
$1,501 - $2,000/month
91%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Palo Alto?
Based on current rent prices, Crescent Park, Midtown Palo Alto and Downtown Palo Alto are the most affordable neighborhoods in Palo Alto.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Palo Alto?
Based on current rent prices, Downtown Palo Alto, Midtown Palo Alto and Crescent Park are the most expensive neighborhoods in Palo Alto.
Neighborhood
Average Rent
Average Sq Ft
Which Palo Alto neighborhoods have the most rentals available?
The neighborhoods in Palo Alto with the most apartments available are Downtown Palo Alto, Midtown Palo Alto and Crescent Park .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Palo Alto, CA?
Because the average rent in Palo Alto is $3,133, you’ll want to make about $10,443 per month or $125,316 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Palo Alto, CA compare to other nearby cities and neighborhoods?
Use the tool below to compare Palo Alto, CA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Palo Alto Area GuideStudio
$3,128/month
$3,286/month
One Bedroom
$3,452/month
$3,430/month
Two Bedroom
$4,567/month
$5,114/month
Three Bedroom
$5,022/month
$8,386/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Palo Alto We Think You'll Love
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Frequently Asked Questions
What is the average rent in Palo Alto?
The average rent in Palo Alto is $3,133 per month, which is 88.4% higher than the national average of $1,663.
What is the average rent for a house in Palo Alto?
The average rent for a house in Palo Alto, CA is $7,801 per month.
Are rents going up or down in Palo Alto?
Rents in Palo Alto, CA are increasing, with prices up 4.3% year-over-year and $136 more per month.
What rent range is most common in Palo Alto?
In Palo Alto, CA, 91% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.