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These days, finding an affordable place to live in the Monterey Park area can be challenging. Home prices in Monterey Park are now at a median cost of $855,266, higher than the California average of $812,006.
The average cost of rent is $2,011/mo in Monterey Park, primarily driven by the current value of real estate in the Monterey Park area. In Monterey Park, 48.39% of households rent, and 47.34% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Monterey Park is $7,593 per month. Households that rent pay about 26.48% of their income on rent here. Monterey Park’s most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Alhambra, CA: equally priced homes
- Rosemead, CA: equally priced homes
- East Los Angeles, CA: less expensive homes
- Montebello, CA: less expensive homes
- San Gabriel, CA: equally priced homes
- Commerce, CA: less expensive homes
- South Pasadena, CA: higher priced homes
- San Marino, CA: higher priced homes
- South El Monte, CA: less expensive homes
- Pico Rivera, CA: less expensive homes
Cities with Similar Populations
- Arecibo, PR: less expensive homes
- West Allis, WI: less expensive homes
- Weslaco, TX: less expensive homes
- Vineland, NJ: less expensive homes
- Titusville, FL: less expensive homes
- The Hammocks, FL: less expensive homes
- Taylorsville, UT: less expensive homes
- Stuart, FL: less expensive homes
- Medina, OH: less expensive homes
- Kirkland, WA: higher priced homes
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