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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 $587,462, lower than the Massachusetts average of $625,090.
The average cost of rent is $1,729/mo in Monterey, primarily driven by the current value of real estate in the Monterey area. In Monterey, 11.81% of households rent, and 56.49% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Monterey is $12,562 per month. Households that rent pay about 13.76% of their income on rent here. Monterey’s most expensive areas are in the central 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
- Hartsville, MA: equally priced homes
- Tyringham, MA: higher priced homes
- New Marlboro, MA: less expensive homes
- Sandisfield, MA: less expensive homes
- Belcher Square, MA: equally priced homes
- Mill River, MA: equally priced homes
- Otis, MA: less expensive homes
- Berkshire Heights, MA: equally priced homes
- South Lee, MA: equally priced homes
- North Otis, MA: less expensive homes
Cities with Similar Populations
- Forestport, NY: less expensive homes
- Van Raub, TX: higher priced homes
- Victor, WV: less expensive homes
- Glenallen, MO: less expensive homes
- Girard, GA: less expensive homes
- Gilliam, LA: less expensive homes
- Gateway, AR: less expensive homes
- Garland, ME: less expensive homes
- Garfield, WA: less expensive homes
- Gaither, AR: less expensive homes
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