Cheapest Neighborhoods in Palo Alto, CA
Some of the cheapest neighborhoods in Palo Alto are Crescent Park, Midtown Palo Alto, 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 June 23, 2026, the average rent in Palo Alto is $3,069, which is 4.3% 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.
Crescent Park
Average Rent
$2,854/Month
Year-Over-Year Rent Change
2%
Units Available
11 Rentals
Crescent Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Crescent Park is $2,854 while the city average is $3,069. This is a 2% difference from last year. Residents enjoy convenient access to Seminary Oaks Park, Foothill College, Middlefield, and Bayshore Nasa Station.
Midtown Palo Alto
Average Rent
$3,458/Month
Year-Over-Year Rent Change
7%
Units Available
14 Rentals
When you’re looking for a great Palo Alto neighborhood on a budget, check out Midtown Palo Alto. The average rent is $3,458, compared to the city average of $3,069. Rent prices have increased by 7%. Midtown Palo Alto is convenient to Foothill College, Middlefield, San Francisco International, and The Environmental Volunteers EcoCenter.
Downtown Palo Alto
Average Rent
$4,430/Month
Year-Over-Year Rent Change
5.1%
Units Available
29 Rentals
Downtown Palo Alto is an affordable neighborhood in Palo Alto with an average rent price of $4,430. Compare this to the city average of $3,069. In the past year, rent prices have increased by 5.1%. Downtown Palo Alto provides easy access to El Palo Alto Park, Norman Y Mineta San Jose International, and Canada College.
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.