Palo Alto, CA Real Estate
According to census data in the year 2000 there were 26,155 housing units in Palo Alto.
This represents a 3.8% growth from 25,188 in 1990.
Of those housing units, 26,036 were located in either urbanized areas or urban clusters, and 119 were located in what is classified as a rural area.
Homeownership rate in Palo Alto is about 56.8%.
Palo Alto's vacancy rate, including seasonal lodging, is about 3.2%.
Average household size is 2.3 people.
The majority of houses, apartments or condos in Palo Alto were built after 1957.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 7.70% |
| One Bedroom | 17.90% |
| Two Bedrooms | 23.70% |
| Three Bedrooms | 28.70% |
| Four Bedrooms | 17.30% |
| Five Bedrooms or more | 4.70% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.58 |
| Median year structure was built | 1954 |
| Median Value of occupied units | $811,800 |
| Median Price asked for vacant units | $867,600 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.92 |
| Median year structure was built | 1963 |
| Median Monthly Rent asked for vacant units | $1,804 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.40% |
| Second Mortgage | 6.70% |
| Home Equity Loan | 10.70% |
| Simple Mortgage | 50.80% |
| Debt Free | 31.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17% |
