Midtown's October First-Time Homebuyer Report

Midtown is much older than the rest of Palo Alto, with a median age of 39. It's less affluent than average as well, with a median income of $98,162 per household. The Midtown market almost exclusively consists of detached houses, accounting for 100% of the current homes in the area. Leading the list of top schools in the neighborhood are Herbert Hoover Elementary School, Jane Lathrop Stanford Middle School, and Palo Alto High School.

Price Range

The housing prices of Midtown are close to the city average with a median home value of $1,019,919 and a current average list price of $2,649,488. In this week's report, the number of homes sold in the Midtown market fell to eight over the past 30 days, a decrease of 20.0% from last week's report, but still above the monthly average.

Curious as to which homes have been getting the most attention in Midtown? These listings have stirred up interest and produced the most views:

$2.5M   $3M   $3.5M  

Typical Dwelling

A four-bedroom detached home valued around $2,782,700 is considered a typical dwelling in Midtown. If a buyer was looking for a similar home, they would need good credit and a $556,540 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $8,963 and the property tax rate is $5.45 per $1,000 of taxable assessed value.

Get started right now by checking out Midtown homes for sale or reviewing Midtown real estate trends.


Data reported through 10/13/2016

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