There is a mini housing boom going on in East Palo Alto, which, according to Zillow, will soon boast an average home price of $1 million. Even the small homes here are suddenly going for big money.
Real estate agents like Holly Barr said you can thank, or blame, the nearby tech boom.
“Yeah, people are getting out of here, spreading to where they can get a little more space and yet still work for the tech industry to get their nice income,” Barr said.
East Palo Alto in the 1980s was known as America’s murder capital. Now there is a $2,000 a month French immersion school in the area.
East Palo Alto is not the only local place joining the “million median” club. Zillow also said Daly City, Alameda, Newark and Morgan Hill are also about to hit a median housing price of a million bucks. Those in the city now said they are lucky they got in when they did.
And here’s another stat to put things in perspective: Zillow says of the 200 communities in the county where homes average a million dollars each, a third are here in the Bay Area.
Photo Credit: NBC Bay Area
Source: NBC Bay Area