Palo Alto city: Median Gross Rent Trend
How Palo Alto city's median gross rent changed from 2017 to 2023, based on U.S. Census Bureau ACS 5-Year Estimates. The 2019 vintage reflects the pre-COVID peak; 2021 captures the immediate COVID-era disruption; 2022–2023 show the recovery.
2017
$2,379
2023
$3,328
Total change
+$949
% change
+39.9%
| Year | Median Gross Rent | Change |
|---|---|---|
| 2017 | $2,379 | — |
| 2019 | $2,569 | +$190 (8%) |
| 2020 | $2,679 | +$110 (4.3%) |
| 2021 | $2,950 | +$271 (10.1%) |
| 2022 | $3,169 | +$219 (7.4%) |
| 2023 | $3,328 | +$159 (5%) |