Palo Alto, CA
Population 67,231 · California
About Palo Alto, CA
Palo Alto is a mid-sized city located in California with a population of 67,231 residents according to the latest US Census Bureau American Community Survey data. The median household income is $220,408 per year, which is 193% above the national median of $75,149. The median age of 42.5 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Palo Alto features a median home value of $2,000,001, which is 717% above the national median of $244,900. This places Palo Alto in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,328, 186% above the national average of $1,163/month. Of the 29,104 total housing units, 54% are owner-occupied (14,115 units) and 46% are renter-occupied (11,939 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Palo Alto shows an unemployment rate of 3.7%, which is near the national rate of 3.7%. The poverty rate stands at 5.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palo Alto have an average one-way commute time of 22.9 minutes.
Education & Demographics
82.4% of Palo Alto residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 3.1% White, 0.5% Hispanic or Latino, 0.1% Black or African American, and 3.7% Asian residents, with 36.3% of the population being foreign-born.
How Palo Alto Ranks in California
Cost of Living in Palo Alto, CA
Compared to national averages, Palo Alto has a median household income of $220,408 (193% above the national median of $75,149). Home values average $2,000,001, which is 717% above the national median. Monthly rent at $3,328 is 186% above the US average of $1,163. Within California, Palo Alto's income is 125% above the state average of $97,829, and home values are 206% above the state median of $653,874.
Why Live in Palo Alto, CA?
Palo Alto offers a strong local economy with a median household income of $220,408, well above the national average, and a well-educated community where 82.4% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.4%, better than the national average. Additionally, the city features short commute times averaging just 22.9 minutes.
Potential considerations include a competitive housing market where the typical home costs $2,000,001. However, as a mid-sized city, Palo Alto provides access to a wide range of amenities and services.
Palo Alto has a population of 67,231 with a median age of 42.5 years. Compare Palo Alto with other cities to see how it stacks up, or explore all cities in California.
Similar Cities Near Palo Alto
Cities in California with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Madera | 67,133 | $63,619 | $335,900 | Compare |
| Yorba Linda | 67,407 | $152,060 | $1,091,700 | Compare |
| Lodi | 67,008 | $84,402 | $468,800 | Compare |
| Davis | 66,801 | $87,421 | $829,000 | Compare |
| Union City | 68,141 | $137,194 | $1,058,200 | Compare |
| Castro Valley | 65,389 | $138,069 | $1,058,200 | Compare |
| Lynwood | 65,291 | $70,236 | $569,400 | Compare |
| Yuba City | 69,545 | $72,322 | $405,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in California
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Palo Alto With Other Cities
Frequently Asked Questions about Palo Alto
What is the population of Palo Alto, CA?
The population of Palo Alto, CA is 67,231 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in California.
What is the median household income in Palo Alto?
The median household income in Palo Alto, CA is $220,408 per year, which is 193% above the national median of $75,149.
What is the median home value in Palo Alto?
The median home value in Palo Alto, CA is $2,000,001, which is 717% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Palo Alto?
The median monthly rent in Palo Alto, CA is $3,328, which is 186% above the national average of $1,163/month.
What is the unemployment rate in Palo Alto?
The unemployment rate in Palo Alto, CA is 3.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Palo Alto, CA a good place to live?
Palo Alto offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 67,231 and a median age of 42.5, the city appeals to a broad range of residents.
How educated is Palo Alto, CA?
82.4% of residents in Palo Alto aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Palo Alto?
Key cost-of-living indicators for Palo Alto, CA: median home value is $2,000,001 (717% above national), median rent is $3,328/month, and median household income is $220,408. The home-value-to-income ratio is 9.1x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Palo Alto?
The poverty rate in Palo Alto, CA is 5.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Palo Alto, CA?
Palo Alto's population is 3.1% White, 0.5% Hispanic or Latino, 0.1% Black or African American, 3.7% Asian, and 2.1% two or more races. 36.3% of residents are foreign-born.