Best Affordable Neighborhoods in Palo Alto, CA
Some of the cheapest neighborhoods in Palo Alto are Midtown Palo Alto, Ventura, and Downtown Palo Alto. These neighborhoods offer some of the lowest rent prices in Palo Alto, making them ideal for renters on a budget. As of May 9, 2026, the average rent in Palo Alto is $3,053, which is 3.8% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Midtown Palo Alto
Average Rent
$3,641/Month
Year-Over-Year Rent Change
5.7%
Units Available
15 Rentals
Midtown Palo Alto is a top choice for budget-conscious renters for a variety of reasons. The average rent in Midtown Palo Alto is $3,641 while the city average is $3,053. This is a 5.7% difference from last year. Residents enjoy convenient access to San Francisco International, Foothill Coll., Los Altos, and Whisman Station.
Ventura
Average Rent
$3,914/Month
Year-Over-Year Rent Change
1.7%
Units Available
10 Rentals
When you’re looking for a great Palo Alto neighborhood on a budget, check out Ventura. The average rent is $3,914, compared to the city average of $3,053. Rent prices have increased by 1.7%. Ventura is convenient to Middlefield Station, Alma Village, and Terman Park.
Downtown Palo Alto
Average Rent
$4,401/Month
Year-Over-Year Rent Change
4.7%
Units Available
30 Rentals
Downtown Palo Alto is an affordable neighborhood in Palo Alto with an average rent price of $4,401. Compare this to the city average of $3,053. In the past year, rent prices have increased by 4.7%. Downtown Palo Alto provides easy access to Stanford University, Foothill College, Middlefield, and San Francisco International.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.