Rent to own Homes in Palo Alto, CA
Historic events! Palo Alto is alive with history, from such memorable events as the earthquake of 1906 and the Christmas Flood of 1955. Both events called for the strength of Palo Altans and others in the area to pull together.
Palo Alto, CA is a great place for affordable rent-to-own homes! With a median household income of over $174,003 and a median rent of $2,679, the Palo Alto, CA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Palo Alto, CA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Palo Alto, CA Property Resources
Rent to own Homes in Cities Near Palo Alto, CA
- Alamo
- Ashland
- Atherton
- Belmont
- Burlingame
- Cambrian Park
- Campbell
- Castle Hill
- Cupertino
- Danville
- Diablo
- Dublin
- East Foothills
- East Palo Alto
- Emerald Lake Hills
- Fairview
- Foster City
- Fremont
- Hayward
- Highlands-Baywood Park
- Hillsborough
- Ladera
- Lafayette
- La Honda
- Lexington Hills
- Livermore
- Loma Mar
- Los Altos
- Los Altos Hills
- Los Gatos
- Loyola
- Menlo Park
- Millbrae
- Monte Sereno
- Mount Hamilton
- Newark
- Norris Canyon
- North Fair Oaks
- Palo Alto
- Portola Valley
- San Carlos
- San Gregorio
- San Jose
- Santa Clara
- Saranap
- Saratoga
- Stanford
- Sunnyvale
- West Menlo Park
- Woodside
Neighborhoods in Palo Alto, CA
Barron Park rent to own homes Charleston Gardens rent to own homes Charleston Meadow rent to own homes College Terrace rent to own homes Community Center rent to own homes Crescent Park rent to own homes Downtown North rent to own homes Duveneck - St. Francis rent to own homes Esther Clark Park rent to own homes Evergreen Park rent to own homesPopular Zip Codes in Palo Alto, CA
94302 rent to own homes 94304 rent to own homes 94303 rent to own homes 94306 rent to own homes 94301 rent to own homesBuying a Home in Palo Alto, CA
Palo Alto, CA is seeing rapid growth and Palo Alto, CA's' housing market remains not optimal with an average home price that is 820% above the 2024 national average. Palo Alto, CA is part of Santa Clara county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Santa Clara is 0.67% which is below the national average, which is 0.99%.
Median Home Price in Palo Alto, CA
Median Rent in Palo Alto, CA
14 Reasons to Live in Palo Alto
Plentiful shopping! Shopping in the Palo Alto area is quite an experience. There are several different venues for your shopping excursions, such as the Stanford Shopping Center and Town & Country Village.
Variety of dining options! Whatever pleases your palate, you will find a variety of eateries and restaurants in Palo Alto, such as Joanie's Cafe for lighter fare and Pluto's for those who seek fast food. For those of you who you desire healthier fare, So Gong Dong Tofu House will surely satisfy.
Career Opportunities! Regardless of the type of employment you seek, there is no shortage of jobs in this area. You can check out Palo Alto Staffing located on E. Bayshore Road. The city of Palo Alto has many job openings, as well, and you can either visit their website or go directly to City Hall located at 250 Hamilton Ave. in order to see what jobs the city has available.
Rental complexes! There are several different apartment complexes renting out units presently, as well as homes for rent and rent to own houses in the area. If you seek an apartment, try Woodland Park on Newell Road or Oak Creek Apartments on Sand Hill Road.
Neighborhoods! Crescent Park and University South are two beautiful neighborhoods in the Palo Alto community. Owning property or obtaining a rent to own agreement in one of these areas is a great way to start over. More than 57% of properties are owner occupied, so you should not have trouble finding a house to call your own.
Nearby cities and commuting! Belmont, Menlo Park, and Newark are all cities whose centers are within 12 miles of Palo Alto. These cities offer job prospects, shopping, and dining all within a short commute.
Established homes! More than half of the homes in Palo Alto are considered to be older, well established ones, built from 1940 to 1969. You can find some of these properties on Waverly St. or Alta Mesa.
Parks in Palo Alto! The Pearson-Arastradero Preserve, located on Arastradero Road, is a gorgeous place to take in views of the surrounding area and go hiking, back packing, or to have a picnic. Eleanor Pardee Park on Center Drive is also a nice place to get away for the day, complete with jogging and walking areas and other amenities.
Famous people from the area! Joan Baez, famous folk singer, and James Franco, known for his roles in Pineapple Express and the Spiderman franchise, both hail from this city in central California. Shemar Moore, best known for his roles on The Young and The Restless and more recently, Criminal Minds, also moved to this area at a young age.
Sports and recreation! At the City of Palo Alto website, you can find many different sports classes and teams to join in the Palo Alto area. The Palo Alto Family YMCA and the Arillaga Center for Sports and Recreation also provide different forms of activity of which individuals and groups alike can be a part.
Annual community events! There are events that are sponsored and held every year in the Palo Alto area, and there is something to do throughout the year. In March, there is the annual final elephant seal tour at Ano Nuevo State Park. The tour lasts 2 hours. In April the city celebrates Earth Day with various celebrations. There is a calendar of all of the year's events located on the Destination Palo Alto website.
Housing in the area! Rent to own homes and other living quarters are available in the area and median home purchase prices are holding steady, as the market in this area is quite strong. Homes in the Esther Clark Park and Fairmeadow neighborhoods are eclectic and offer different amenities whether you are renting or buying.
Renters welcome! More than 40% of properties are rentals, so you can have your pick of nice places. Try Stanford Ave. or Middlefield Rd. for some ideas.