What a condo costs in Palo Alto
Condos are a small share of Palo Alto's market. Over the three months to September 2026, Redfin counted 10 condo sales in ZIP 94306 and 5 in 94301, against 43 and 31 detached-house sales. The median condo sold for $1,294,962 in 94306 and $2,099,938 in 94301. Those small samples move a lot from month to month, so treat them as a rough guide and ask for the last 12 months of sales in the building you want.
| ZIP, home type | Redfin median sale price | Sales | Median days on market | Average sale-to-list |
|---|---|---|---|---|
| 94306 condo | $1,294,962 | 10 | 59 | 99.3% |
| 94306 townhouse | $2,097,503 | 4 | 104 | 99.1% |
| 94301 condo | $2,099,938 | 5 | 12 | 104.3% |
| 94301 townhouse | $1,875,003 | 1 | 8 | 104.3% |
| 94306 detached house, for comparison | $3,864,025 | 43 | 12 | 109.2% |
The gap with houses is the main reason buyers look at condos here: in 94306 the median condo cost about a third of the median house. Condos in 94306 also took far longer to sell, a median 59 days against 12 for houses, and sold slightly under list. That gives condo buyers more room to negotiate than house buyers have. Across Santa Clara County, Redfin's median condo sale price was $667,393 in September 2026, so the 94306 condo median was about twice the county figure.
The Census counts 8,660 Palo Alto homes in buildings of five or more units, 29.6% of the city's housing, and 1,812 single-family attached homes. That count includes apartment rentals as well as condos, so the number of condos for sale at any time is far smaller.
Best areas to buy a condo in Palo Alto
Building details below come from HelloCondo, a listing site that profiles condo buildings, checked October 30, 2026, and from Zillow's neighborhood values for September 2026. Confirm unit counts, ages and fees with each HOA, since listing sites can be out of date.
Downtown Palo Alto condos (94301)
Downtown has some of the city's older condo buildings. HelloCondo lists Hamilton Condominiums at 555 Byron Street, 23 two- and three-bedroom units completed in 1997, and Pacoa at 101 Alma Street, 76 units built in 1960 with sizes from 828 to 2,045 square feet. Zillow's typical value for Downtown North was $2,226,768 in September 2026, up 5.1% in a year. Caltrain's Palo Alto station serves the area.
Forest Avenue and the north side
Small buildings are common near downtown. HelloCondo lists 365 Forest Avenue as a seven-unit building completed in 1981 with two- and three-bedroom homes of 1,631 to 1,985 square feet. In small associations, one owner's special project or one large repair can change dues quickly, so read the minutes closely.
The Greenhouse on San Antonio Road (94303)
The Greenhouse is the lowest-valued neighborhood Zillow tracks in Palo Alto, at a typical $915,733 in September 2026, down 1.1% in a year. HelloCondo describes it as two- and three-bedroom units of 946 to 1,212 square feet at 765 and 777 San Antonio Road, built between 1974 and 1976, with a pool and clubhouse. Confirm which HOA governs the unit you are offered and read its documents.
Rosewalk and lower San Antonio Road (94306)
HelloCondo lists Rosewalk at 444 San Antonio Road as a three-story building of 16 two- and three-bedroom units built in 1988, sized 1,556 to 1,826 square feet. Units of this size compete with small houses on price, so compare both before you decide.
Classics at Sterling Park (94303)
HelloCondo lists 57 homes in 35 single-unit buildings, from one to five bedrooms and 1,047 to 1,908 square feet, with a clubhouse, pool and spa. Even in single-unit buildings, an HOA governs shared areas and often the exterior, so its rules and reserves matter as much as in a flat.
Arbor Real (94306)
Arbor Real has 41 homes across nine buildings, with two- to five-bedroom layouts from 1,402 to 2,940 square feet, according to HelloCondo. Larger plans like these sit between a condo and a house in price.
College Terrace and Evergreen Park
Zillow's typical value was $3,107,783 in College Terrace and $1,466,020 in Evergreen Park in September 2026. HelloCondo lists College Terrace Condominiums as six two-bedroom homes of 1,198 to 1,298 square feet. Very small associations like this one may have limited reserves, which can affect lending.
Is it wise to buy a condo in Palo Alto now?
It depends on how long you will stay and on the building. The 94306 figures show condos selling slower and below list while houses sell fast and over list, so buyers have more bargaining power in this segment. Against that, Zillow's typical rent in Palo Alto was $4,558 a month in September 2026, while principal and interest alone on the $1,294,962 94306 median, with 20% down at Freddie Mac's 7.24% average (week of October 29, 2026), come to about $7,060 a month. Add the 1% base property tax, about $1,079 a month, plus HOA dues and insurance.
California's balcony and deck inspection laws apply to condo buildings, and the results can lead to special assessments. Before you buy, ask for the latest inspection under SB 326 and any repair plan. Our California balcony inspection law guide explains the rules, and our California HOA laws guide covers reserve studies and the documents the seller must provide.
Insurance is the other check. Ask what the HOA's master policy covers, whether it includes earthquake cover, and what you need in your own HO-6 policy. See our California homeowners insurance guide.
Financing a Palo Alto condo and warrantability
Most Palo Alto condos cost more than the 2026 conforming loan ceiling of $1,249,125 for one-unit homes, set by the Federal Housing Finance Agency, so you will likely need a jumbo loan unless you put down a large deposit. Jumbo lenders review the building as well as you. They look at the HOA's budget, the share of the dues set aside for reserves, the owner-occupancy rate, any litigation and whether one owner holds many units. A building that fails those tests is called non-warrantable and may need a portfolio lender at a higher rate.
Ask the HOA early for its lender questionnaire, budget, reserve study and insurance certificate, and send them to your lender before you remove the loan contingency.
Some Palo Alto condos are below-market-rate (BMR) units. The city's BMR program requires projects of three or more homes to set aside at least 15% as BMR units, and when a BMR owner sells, the city has the right of first refusal to buy. Alta Housing runs the buyer waiting list, with preference for people who live or work in Palo Alto. Check the title report for a BMR agreement before you write an offer on a resale.
Condo fees and costs in Palo Alto
HOA dues in Palo Alto condo buildings
HelloCondo shows dues for The Greenhouse averaging about $2 per square foot a month, which is the kind of figure to confirm with the association's current budget. Dues fund the master insurance policy, reserves and shared areas.
Utilities for a Palo Alto condo
The City of Palo Alto supplies electricity, gas, water, wastewater and refuse. Some buildings include hot water or water in the dues and bill the rest by unit. Ask which utilities you pay directly.
Property tax on a Palo Alto condo
Your base tax is 1% of the purchase price under Prop 13, plus bonds and parcel taxes. Our Santa Clara County property tax guide shows how the full rate is built.
Transfer tax when you buy or sell a Palo Alto condo
Fidelity National Title's 2026 guide lists Santa Clara County's tax at $1.10 per $1,000 and Palo Alto's city tax at $3.30 per $1,000. On a $1,294,962 condo that is about $1,424 and $4,273. See our California transfer tax guide.
Palo Alto condo buyer's checklist
- Get 12 months of sales in the building, not just the ZIP median.
- Read the HOA budget, reserve study, last two years of board minutes and any pending special assessment.
- Ask for the SB 326 balcony inspection report and repair plan.
- Check the master insurance policy and earthquake cover, and price your HO-6 policy.
- Confirm the flood zone with the city's Flood Zone Lookup; the city says all of Palo Alto is in a flood zone of some kind.
- Check for a BMR agreement in the title report.
- Confirm parking, storage, pet and rental rules in the CC&Rs.
- Send the HOA's lender questionnaire to your lender early.
For the wider market, see our Palo Alto homes guide and our featured Palo Alto agent.