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ZIP Code · CA

ZIP 94301

Pop. 17,508·Santa Clara County·67th most expensive ZIP in California
Median rent (all units)
$4,319/mo
Year-over-Year
-0.8%
Month-over-Month
+4.3%
vs US Median
+$2,354
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 94301 · $4,319
More expensive than 98% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$2,970
1 BR
$3,380
2 BR
$3,950
3 BR
$5,220
4 BR+
$5,680
Research median
$3,950/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$51,828/yr
At $4,319/mo median
Location
StateCA
CountySanta Clara County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.8% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (-0.8% YoY, +4.3% MoM), not inventory.
Demographics

Who lives here

ZIP 94301 (Palo Alto, CA) is roughly split between renters and owners, has a large retiree population, has a median income above the national average, 81.8% of residents hold a bachelor's degree or higher.

Population
17,508
Median income
$242,006
Median age
46.7
Renters
47%
Age distribution
20.1%
16.7%
24.8%
16.9%
21.5%
Under 1820.1%
18–3416.7%
35–5424.8%
55–6416.9%
65+21.5%
Gender
46.5%
53.5%
Male46.5%
Female53.5%
Race & ethnicity
55.4%
26.3%
White55.4%
Black2.1%
Hispanic8.9%
Asian26.3%
Other7.3%
Education (25+)
81.8%
No HS diploma3.7%
HS diploma4.7%
Some college9.7%
Bachelor's+81.8%
Housing tenure
53%
47%
Owner53%
Renter47%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 94301 in Palo Alto, CA has changed in 5 years

Rent
$3,647 → $4,319
up 18.4%
Income
$184,932 → $242,006
up 30.9%
Population
17,243 → 17,508
up 1.5%
Renter share
44.6% → 47%
+2.4 pts
Bachelor's+
82% → 81.8%
-0.2 pts
Median age
45.4 → 46.7
+1.3 yrs

Rent in ZIP 94301 in Palo Alto, CA has increased 18.4% since 2021, going from about $3,647 per month to roughly $4,319 today. Median household income grew from $184,932 to $242,006 between 2021 and 2024, a 30.9% shift. Income growth outran rent by about 12.5 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 17,243 to 17,508 between 2021 and 2024, a 1.5% change. About 47% of households rent today, against 44.6% in 2021. Taken together, the five-year picture in ZIP 94301 in Palo Alto, CA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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Local insights

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About renting in ZIP 94301

Last updated: July 20, 2026

ZIP code 94301 covers Palo Alto, CA. The median rent here is $4,319/mo as of July 2026. A 1-bedroom rents for a median of $3,380/mo. A 2-bedroom rents for a median of $3,950/mo.

At 21% of local median household income ($242,006/yr), ZIP 94301 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 94301?

As of July 20, 2026, the median monthly rent in ZIP 94301 (Palo Alto, CA) is $4,319. This is based on aggregated data from public sources and community submissions.

How does ZIP 94301 rent compare to the US average?

ZIP 94301's median rent of $4,319/mo is $2,354 (120%) above the US national median of $1,965/mo.

How does ZIP 94301 compare to other ZIPs in California?

ZIP 94301 is one of the pricier ZIP codes in California, ranking #67 out of 907 ZIPs tracked at $4,319/mo.

How much income do you need to rent in ZIP 94301?

To keep rent at or below 30% of gross income, you would need to earn at least $173,000/year (~$83/hour full-time) to afford the median rent of $4,319/mo in ZIP 94301. The local median household income is $242,006/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 94301?

Rent in ZIP 94301 has decreased 0.8% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 94301 an affordable place to rent?

ZIP 94301 is considered very affordable for renters. At $4,319/mo, rent takes approximately 21% of the local median household income ($242,006/yr). The standard benchmark is 30%. ZIP 94301 falls comfortably within that range.

What percentage of ZIP 94301 residents rent vs. own?

According to Census data, approximately 47% of ZIP 94301 households are renters, while 53% are owner-occupied. ZIP 94301 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 94301 compare to the rest of Palo Alto?

ZIP 94301 is pricier than Palo Alto as a whole. At $4,319/mo, it's $20 above the Palo Alto citywide median of $4,299/mo.

When was rent data for ZIP 94301 last updated?

Rent data for ZIP 94301 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
21%
VERY AFFORDABLE

At $4,319/mo, rent takes ~21% of ZIP 94301's median household income ($242,006/yr). The standard benchmark is 30%.

ZIP 94301 21%Benchmark 30%
State income tax1–13.3%
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Schools nearby

Public schools near ZIP 94301 (Palo Alto, CA)

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