All of Palo Alto has fabulous schools. There are 2 high schools in Palo Alto - Palo Alto High and Gunn High School. Both schools are excellent with Gunn maybe having a slight edge in higher test scores. Generally speaking residents north of Oregon Expressway go to Palo Alto High while residents south of Oregon Exp go to Gunn. That being said, the Palo Alto neighborhoods of Old Palo Alto, Professorville, Crecent Park, downtown, and Community Center have higher property values than the Palo Alto neighborhoods south of Oregon. The areas north of Oregon are typically older and have higher quality homes on bigger lots many times. The homes are very charming in design. Many Palo Alto homes south of Oregon are Eichlers or other contgemporary styles that are of lower quality. Of course many of the homes are being replaced by high quality new homes. You can drive through the neighbors and just feel the difference. Barron Park is another very popular area with a rural feel and proximity to Gunn High School.
I hope this sheds some light on your question.
Please contact me should you have further questions.