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Old 06-22-2013, 07:43 AM
 
7 posts, read 28,328 times
Reputation: 10

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Why are apartment rentals skyrocketing in Palo Alto?

I know Palo Alto is awesome. Great schools, it's near Stanford, great shopping.
I used to work there years ago as an Exec Admin Assistant.
But, there are a lot of homeless in the parks. You see business people
on their lunch break walking through and homeless laying
all over the grass. I felt bad for them but I did not
feel comfortable enough want to sit and eat my
lunch in the parks which are really pretty otherwise.

Why is even the rent for an apartment so high right now.
DOES THAT MEAN THERE ARE A LOT OF JOBS?
I looked on craigslist and the apts were steep!

I met someone two days ago who lives in Palo Alto, he was
visiting Los Angeles. He pays $2100 for a 1 Bdrm.
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Old 06-22-2013, 09:20 AM
 
Location: East Bay, San Francisco Bay Area
23,535 posts, read 24,022,219 times
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Basically, supply and demand. Palo Alto is one of most desirable areas to live in the Bay Area.
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Old 06-22-2013, 12:08 PM
 
18,836 posts, read 37,360,870 times
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Nice post. I live in a very low cost area, and could easily transfer to Palo Alto, for about the same rate of pay. Not. Better to live in Podunk, and pay $500 a month rent, than Palo, at $2100.

I ddon't really care where I live, I work, go to the gym, sleep, do it all over. If Iget tired of PPodunk, Igo for a two week vvacation with the money I save living here.
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Old 06-22-2013, 12:34 PM
 
Location: State of Transition
102,210 posts, read 107,883,295 times
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I saw several listings for 1-br. apts. in Palo Alto on Craigslist for $1600, as well as 1 or 2 for around $1900-$2100. It depends on the square footage involved, and to some extent on the location.
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Old 06-22-2013, 01:28 PM
 
Location: State of Transition
102,210 posts, read 107,883,295 times
Reputation: 116153
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Old 06-22-2013, 01:54 PM
 
486 posts, read 1,255,775 times
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If I had to venture a guess, it would be because demand exceeds supply.
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Old 06-22-2013, 02:37 PM
 
411 posts, read 720,012 times
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Palo Alto has the strongest NIMBY element of any part of the Bay Area. It's nearly impossible to build there, and add supply. Despite being a center of many major tech companies and service firms, PA refuses to be anything other than a low density suburb with some office parks
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Old 06-22-2013, 03:23 PM
 
1,374 posts, read 2,435,214 times
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you are asking this question because you want to live in Palo Alto, don't you?
So, ask yourself, why you want to live in Palo Alto?
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Old 06-22-2013, 04:53 PM
 
219 posts, read 436,193 times
Reputation: 449
Palo Alto is exquisite, an exclusive environment, almost park-like. It's the opposite of suburban tract houses. And it's close to San Jose (the tech boom drove real estate prices up anywhere in the area of SJ) and commutable to San Fran as well. Easy hop across the bridge to the East Bay. Primo location. That costs. They don't give that away, know what I'm sayin?
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Old 06-22-2013, 06:08 PM
 
119 posts, read 233,580 times
Reputation: 132
palo alto is nice but still has some bad elements. Parked downtown to go to the Giants Dugout - the parking lot had 3 spots full of broken car window glass. Did all those people forget their car keys and need to bust their own windows? Then I went to Macy's - took my son to the potty and there were two homeless dudes washing themselves in the sinks. As nice as palo alto is, it's still rather urban
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