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 August 7, 2026, the average rent in Palo Alto is $3,156, which is 4.6% 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
$3,028/Month
Year-Over-Year Rent Change
1.5%
Units Available
10 Rentals
If you’re looking for a great, affordable neighborhood in Palo Alto, Crescent Park might be the perfect place! It has an average rent price of $3,028, while the city’s average stands at $3,156. In the last year, prices have increased by 1.5%. Crescent Park is near 491-499 Lytton Ave, Stanford University, and San Francisco International.
Midtown Palo Alto
Average Rent
$3,710/Month
Year-Over-Year Rent Change
8.9%
Units Available
12 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 $3,710 while the city average is $3,156. This is a 8.9% difference from last year. Residents enjoy convenient access to Foothill College, Middlefield, Foothill Coll., Los Altos, and 2717 Middlefield Rd.
Downtown Palo Alto
Average Rent
$4,270/Month
Year-Over-Year Rent Change
5.7%
Units Available
30 Rentals
When you’re looking for a great Palo Alto neighborhood on a budget, check out Downtown Palo Alto. The average rent is $4,270, compared to the city average of $3,156. Rent prices have increased by 5.7%. Downtown Palo Alto is convenient to El Palo Alto Park, Foothill College, Middlefield, and Moffett Park Station.
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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.