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Palo Alto Weekly

Real Estate - February 28, 2020

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LOCAL RENTS INCREASE ... Palo Alto rents saw an 0.4% increase in January and have increased 3.3% compared to the same time last year, far beyond the state average of 1.3% year over year growth, according to the February 2020 Rent Report published by Apartment List. "This is the second straight month that the city has seen rent increases after a decline in November of last year," according to the report, which noted that current median rents in Palo Alto are $2,554 for a one-bedroom apartment and $3,203 for a two-bedroom. The report also found that Cupertino has the most expensive rents in the San Jose metropolitan area, with a two-bedroom median rent of $5,222. In January, Cupertino rents grew by 1.2%, the fastest in the region. Read the full report at apartmentlist.com

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