A height adjustable stand comprises a base, a connecting member, a height extender, and a positioning mechanism. The base includes a support member protruding therefrom. The connecting member comprises a first surface and a first end frictionally and rotatably connected to the support member. The height extender is slidably connected to the connecting member and comprises a second surface and an upper connecting end for connecting with a flat panel display device. The positioning mechanism comprises a plurality of recessed portions formed in one of the first surface and the second surface, and a compressed elastic member slidably received in a receiving hole defined in the other one of the first surface and the second surface, one end of the elastic member being biased to be received in one of the plurality of recessed portions to locate the height extender in a desirable position.