94304, Palo Alto, CA

The 94304 zip code of Palo Alto, CA has a median home value of $1,078,000 and a median home equity value of $527,000. The average home price in the 94304 zip code has increased by 5.4% over the past year and has increased by 16.7% over the past five years. The average home equity value in the 94304 zip code is higher than the national average of $205,500.

There are a total of 1,924 homes in the 94304 zip code and 97% of these homes are occupied. The homeownership rate in the 94304 zip code is 89%. The percentage of owner-occupied homes in the 94304 zip code is higher than both the statewide ownership rate (77%) and national ownership rate (70%).

The median household income in the 94304 zip code is $122,500 which is lower than both statewide ($157,600) and national ($59,800) median household incomes. However, this lower income does not appear to be impacting home prices as much as one would expect given that there are only 1% more households earning below $100K compared to households earning above $100K within this zipcode. This suggests that there may be other factors at play such as location or amenities that make this area desirable for buyers or renters alike.