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These days, finding an affordable place to live in the Monterey area can be challenging. Home prices in Monterey are now at a median cost of $1,059,768, higher than the California average of $812,006.
The average cost of rent is $2,481/mo in Monterey, primarily driven by the current value of real estate in the Monterey area. In Monterey, 61.49% of households rent, and 38.64% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Monterey is $9,872 per month. Households that rent pay about 25.13% of their income on rent here. Monterey’s most expensive areas are in the northeastern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Sand City, CA: less expensive homes
- Del Rey Oaks, CA: less expensive homes
- Pacific Grove, CA: higher priced homes
- Del Monte Forest, CA: higher priced homes
- Seaside, CA: less expensive homes
- Carmel-By-The-Sea, CA: higher priced homes
- Carmel, CA: higher priced homes
- Carmel Highlands, CA: higher priced homes
- Marina, CA: less expensive homes
- Robles Del Rio, CA: higher priced homes
Cities with Similar Populations
- Red Bluff, CA: less expensive homes
- Mason City, IA: less expensive homes
- Medford, NY: less expensive homes
- Mokena, IL: less expensive homes
- Monsey, NY: equally priced homes
- Mount Holly, NC: less expensive homes
- Mount Vernon, OH: less expensive homes
- Mountain Home, AR: less expensive homes
- Parrish, FL: less expensive homes
- Plum, PA: less expensive homes
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