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Palo Alto is a charter city in the northwestern corner of Santa Clara County, California, United States, in the San Francisco Bay Area, named after a coastal redwood tree known as El Palo Alto. The city of Palo Alto was established in 1894 by the American industrialist Leland Stanford and his wife, Jane Stanford, when they founded Stanford University in memory of their only child, Leland Stanford Jr. Palo Alto later expanded and now borders East Palo Alto, Mountain View, Los Altos, Los Altos Hills, Stanford, Portola Valley, and Menlo Park. As of the 2020 census, the population was 68,572. Palo Alto has one of the highest costs of living in the United States, and its residents are among the most educated in the country. However, it has a youth suicide rate four times higher than the national average, often attributed to academic pressure.