Hi! I'm a senior finishing up my undergrad near Palo Alto. There isn't really much to do around the area without a car, unfortunately. The Caltrain station nearest to campus is a roughly half hour walk from most residences on campus (including grad housing). And buying anything at the local restaurants, coffee shops, movie theaters, etc. in the area is very expensive. If you can get off campus regularly with friends with a vehicle, it can be a nice place to live. But there's no nightlife nearby (unless you want to go all the way to San Francisco). Most businesses close early, with only few fast food restaurants open late at night. And Palo Alto isn't really a very lively place to live.