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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 $188,700, lower than the Kentucky average of $219,615.
The average cost of rent is $725/mo in Monterey, primarily driven by the current value of real estate in the Monterey area. In Monterey, 5.29% of households rent, and 54.48% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Monterey is $5,502 per month. Households that rent pay about 13.18% of their income on rent here. Monterey’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- New, KY: equally priced homes
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- Lockport, KY: equally priced homes
- Owenton, KY: equally priced homes
- Swallowfield, KY: equally priced homes
- Fairbanks, KY: less expensive homes
- Bethlehem, KY: higher priced homes
Cities with Similar Populations
- Locust Bayou, AR: less expensive homes
- Leadpoint, WA: higher priced homes
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- Linwood, TX: less expensive homes
- Little Rock, MN: less expensive homes
- Lobeco, SC: higher priced homes
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