Cheapest Neighborhoods in Palo Alto, CA
As of September 22, 2026, the average rent in Palo Alto is $3,139, which is 4.8% 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
$3,700/Month
Year-Over-Year Rent Change
5.5%
Units Available
11 Rentals
If you’re looking for a great, affordable neighborhood in Palo Alto, Midtown Palo Alto might be the perfect place! It has an average rent price of $3,700, while the city’s average stands at $3,139. In the last year, prices have increased by 5.5%. Midtown Palo Alto is near J. Pearce Mitchell Park, Foothill College, Middlefield, and Norman Y Mineta San Jose International.
Downtown Palo Alto
Average Rent
$4,546/Month
Year-Over-Year Rent Change
8.2%
Units Available
34 Rentals
Downtown Palo Alto is a top choice for budget-conscious renters for a variety of reasons. The average rent in Downtown Palo Alto is $4,546 while the city average is $3,139. This is a 8.2% difference from last year. Residents enjoy convenient access to Hopkins Creekside Park, Whisman Station, and Mountain View Station.
Ready to make your move to Palo Alto? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.