Home Front for Aug. 3 | August 3, 2012 | Palo Alto Weekly | Palo Alto Online |


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Palo Alto Weekly

Real Estate - August 3, 2012

Home Front for Aug. 3

RENTS ARE UP ... If you've been home-hunting lately, it's not your imagination that rents have been edging up. Average asking price for a two-bedroom, two-bath apartment in Palo Alto rose to $3,349 through June 30, up 17 percent over last year; for a one-bedroom, one-bath place, asking rent is $2,402, up 9 percent, according to RealFacts, which gathers data on apartment buildings with at least 50 units. It's still less pricey in Mountain View: A two-bedroom, two-bath place goes for $2,679 (up 18 percent), and a one-bedroom, one-bath apartment for $1,894 (up 16 percent). The best deal in town is still East Palo Alto, with a one-bedroom, one-bath unit going for $1,063 (up 9 percent), or $1,300 for two bedrooms. (RealFacts calls both East Palo Alto and Menlo Park "outliers," because there are so few apartment buildings with 50 or more units.)

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