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Facebook co-founder and CEO, Mark Zuckerberg, took everyone by surprise when he revealed himself as a month-to-month renter of a house in the College Terrace neighborhood of Palo Alto, CA. He even let America take a quick tour, allowing Oprah’s camera crew inside his home for an exclusive look at his modest digs. When the 4-bedroom house he was renting went back on the rental market last month, it became a rather hot topic as to what the billionaire’s next real estate move would be.

As it turns out, Mr. Zuckerberg isn’t ready to build a massive estate similar to many other tech titans’ homes. He doesn’t even want to be a first-time homebuyer – or leave the neighborhood. According to Gawker, Zuckerberg’s new home is another rental in the College Terrace area just seven blocks away from his old house. So, why make the half-mile move? For starters, Zuckerberg did pick a slightly larger home compared to his last residence. Built in 2002, the new house boasts 3,800 sq ft and has 5 bedrooms and 4 bathrooms. His previous residence was only 1,976 sq ft with 4 bedrooms and 3 bathrooms. But what really seemed to stem the move is the location. Now, Zuckerberg resides only a few steps away from Facebook Headquarters. This surely comes in handy since he reportedly spends upwards of 16 hours a day at the office.

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About the Author

Lauren Riefflin manages news around Zillow Mobile communications and works closely with Zillow's real estate economists in preparing Zillow's real estate market reports. She also focuses on celebrity real estate news as both a Zillow Blog author and manager of celebrity content relationships.

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