Midtown median real estate price is $3,300,046, which is more expensive than 98.9% of the neighborhoods in California and 99.8% of the neighborhoods in the U.S.
The average rental price in Midtown is currently $5,938, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.5% of the neighborhoods in California.
Midtown is an urban neighborhood (based on population density) located in Palo Alto, California.
Midtown real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Midtown neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Home and apartment vacancy rates are 6.7% in Midtown. NeighborhoodScout analysis shows that this rate is lower than 57.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 2.4% of America's neighborhoods are wealthier than the Midtown neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Midtown also has one of the lowest ratings of child poverty in the nation.
In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 49.3% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 99.1% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Also, a majority of the adults in the Midtown neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for California by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.6% of the neighborhoods in California. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 8.1% of residents in the Midtown neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.3% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
The Midtown neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.4% of the neighborhoods in America. In fact, 73.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Did you know that the Midtown neighborhood has more Armenian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.9% of this neighborhood's residents have Armenian ancestry and 36.9% have Asian ancestry.
Midtown is also pretty special linguistically. Significantly, 6.7% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 99.4% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Midtown neighborhood in Palo Alto are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 97.6% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Midtown neighborhood, 73.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 14.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (5.6%), and 5.2% in clerical, assistant, and tech support occupations.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Midtown neighborhood is English, spoken by 50.1% of households. Other important languages spoken here include Chinese, German/Yiddish, Spanish and Langs. of India.
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Midtown neighborhood in Palo Alto, CA, residents most commonly identify their ethnicity or ancestry as Asian (36.9%). There are also a number of people of German ancestry (11.1%), and residents who report Italian roots (7.9%), and some of the residents are also of English ancestry (4.9%), along with some Irish ancestry residents (3.5%), among others. In addition, 37.1% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Midtown neighborhood spend between 15 and 30 minutes commuting one-way to work (46.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (59.1%) drive alone in a private automobile to get to work. In addition, quite a number also bicycle to get to work (8.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
