Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Morro Bay area can be challenging. Home prices in Morro Bay are now at a median cost of $741,043, higher than the California average of $648,235.
The average cost of rent is $1,600/mo in Morro Bay, primarily driven by the current value of real estate in the Morro Bay area. While nearly 39.47% of residents own their homes outright in Morro Bay, 41.92% rent.
Housing affordability isn’t just about home prices, though. The average household income in Morro Bay is $6,779 per month. Households that rent pay about 23.60% of their income on rent here. Morro Bay's most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Los Osos, CA: less expensive homes
- Cayucos, CA: higher priced homes
- Atascadero, CA: less expensive homes
- San Luis Obispo, CA: equally priced homes
- Avila Beach, CA: higher priced homes
- Garden Farms, CA: less expensive homes
- Santa Margarita, CA: less expensive homes
- Creston, CA: equally priced homes
- Pozo, CA: less expensive homes
- La Panza, CA: higher priced homes
Cities with Similar Populations
- Humboldt, TN: less expensive homes
- Shady Hills, FL: less expensive homes
- Seven Hills, OH: less expensive homes
- Senatobia, MS: less expensive homes
- Seminole, OK: less expensive homes
- Selma, TX: less expensive homes
- Johnstown, NY: less expensive homes
- Jefferson, LA: less expensive homes
- Jamesville, NY: less expensive homes
- Isanti, MN: less expensive homes
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