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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.

  • Chris

    Would it surprise people to know that the uber wealthy usually lease or rent?

    Surprise!!

    Even the very largest homes are often leased by super rich, not purchased.

  • Flip Esse-Elle

    Warren Buffet with wife and three kids still lives in the house he bought forty years ago. Money and modesty is still a potent cocktail. Brains and chutzpa is the drink of choice.
    The people who bought mega homes now are suffering with high taxes, expensive oil and air conditioning they can’t afford. Live big, die poor.

    The commentary above does not mention Mark’s live in girlfriend. Someone has to clean the house, do the laundry,cook his meals.

  • Ezra

    Why should he be the subject of such an article? The guy could well be working with a drafting firm, secretly planning his estate…At any rate, he is living a humble cool life style. RIGHT ON!

  • http://www.citymoversllc.com City Movers LLC

    What an endearing story about Mark’s humble nature, although please mind, this is STILL a 2 Million dollar home in a VERY sought after neighborhood.

    It is nice to see such a young person accomplish such success. Congratulation!

  • http://www.yourdfwagent.com david

    OK, some of this stuff just made me laugh. Does anyone seriously believe he couldnt afford a 2 million dollar home due to him just having stock? Funny stuff, probably not worth his time to go to the title company to close the deal to own the property. In other words he is making that kind of money while going to and from his old house. Remember, his worth starts with a B. As to facebook going out of business comments thats hilarious. I just wish I were able to invest in the company and find it amazing to visualize what he could do with this beast of a company. I dont think he has touched the tip of whats possible. Google has to be shaking in their boots as I see the next step evolving to a full blown integrated search engine. I admire the way he has kept the pages relatively clean of not having ad space every square inch of the page.

  • http://amicabledecornmore.com Scott Hagues

    I agree that he is smart for not blowing the money he has made. I agree with a lot of people. I know I don’t need a massive mansion. I do like property because you can enjoy it with family or friends.
    – I know myself if I ever make millions (Good Luck on that one) there are so many things I would rather do then blow it on buying things….Help homeless kids, kids from Impoverished Places, help disappearing species of animals, help abused animals, Spend it on alternative resources instead paying the middle east for its oil, etc….so many good things to spend money on instead of bars, drinking, expensive cars, expensive houses, 10,000 earings…:)

  • spotty

    it is a very wise thing to do unlike celebrity that spends money on luxery houses coming to think of it how many rooms does he wants to sleep?? just one , what is the comfort you need in a house nice environment and close to office he has it all it is crazy living in a big house and yet you vertually enter all the rooms whats the use?? he could divert some money to the homelsess and less priviledge nice one bro keep it up, packs was still living with his mom when he died great ones do not flick over huge $ but focus on what to do to make his business move forward not the luxery cars or expensive houses just focus and make more money he is still young to retire so let him work and pay rent first.

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  • Alex

    He’s so wealthy that he doesn’t need to bother with the hassle of home ownership. Unlike the rest of us, he can afford not to own his own home.

  • Bogulous Modi

    What a bunch of mindless sheep. Zuck is a big anti-consumerism, anti-capitalist peoples hero is he??? The sheep all eat up this propaganda move so easily that even the “modest” billionaire might be starting to believe his own propaganda moves. What a laugh he, and other “modest billionaires like him”, must get looking down at you gullible sheep who worship at his feet. It’s so easy to manipulate the impressions of mindless sheep. We heard the same garbage about the google boys several years ago (their old cars, shabby clothes etc….), what now do we make of the fact that they each now have their own personal 757/767 airliners and, as reported recently, monster mega-yachts? And that’s just what leaks out, think about all the shell companies that keep their names off of all their other real estate holdings around the world. The Mexican billionaire Carlos Slim (the richest in the world now, mind you) also puts out the same old tired propaganda about living in a “modest Mexico city home” Bill Gates at least doesn’t bore us with this nonsense, he lives in a mansion and doesn’t play childish games for the sheeple’s entertainment.

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