Cost of Living in Monterey County, California

$1,995/mo

Median Monthly Rent

$723,100

Median Home Value

23% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,995/mo

23% above state average

Median Home Value

$723,100

157% above national

Rent-to-Income Ratio

32.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Monterey County Compares

Median monthly rent comparison

Monterey County$1,995/mo

California Average$1,618/mo

National Median$1,163/mo

Detailed Housing Stats

$1,995/mo

Median Gross Rent

$723,100

Median Home Value

$2,087/mo

Monthly Owner Cost

32.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Monterey County, California

Monterey's coastline comes at a price

Monterey County's rent-to-income ratio of 25.3% exceeds the comfortable national threshold, despite the county's strong median household income of $94,486. Renters commit $1,995 monthly—more than a quarter of their earnings—to housing, reflecting the coast's premium value.

Pricier than most of California

Monterey County ranks above California's state average affordability line with a 25.3% rent-to-income ratio, compared to 22.4% statewide. Its median home value of $723,100 signals this is a high-demand coastal market, where Californians pay substantially for proximity to the Pacific.

Coastal premium versus valley relief

Monterey's median gross rent of $1,995 runs $360 higher than Nevada County's ($1,635) and $402 more than Placer County's ($1,991). Home values tell a similar story: Monterey's $723,100 median sits between Napa's ($838,800) and Nevada's ($602,800), marking it as a high-value coastal market.

Coastal living strains even solid incomes

Monterey renters dedicate 25.3% of their $94,486 income to rent ($1,995/month), while homeowners commit 26.5% to ownership ($2,087/month). Both figures exceed recommended thresholds, meaning Monterey households must carefully budget housing alongside other expenses.

Monterey for those who demand the coast

Monterey's stunning Carmel coastline and farmland appeal justify premium prices for those seeking coastal California living. But renters and buyers should anticipate tight housing budgets and consider whether the coastal lifestyle aligns with your financial priorities.

Affordability Calculator

See how your income compares to housing costs in Monterey County

Your Annual Household Income

Rent Burden

25.3%

of gross income

Max Housing (28% Rule)

$2,205

per month

Owner Cost Burden

26.5%

of gross income

The median home in Monterey County may be a stretch

Median home value is $723,100. Estimated monthly cost: $5,773 vs. your max of $2,205.

Rent Affordability Guide

Your rent-to-income ratio25.3%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Monterey County, California?

Monterey County, California has a median monthly rent of $1,995/mo and a median home value of $723,100. The affordability rating is Unaffordable, with rent making up approximately 32.0% of median household income.

What is the median rent in Monterey County?

The median gross rent in Monterey County is $1,995/mo. This is 23% above state average for California.

Is Monterey County affordable?

Monterey County is rated Unaffordable based on rent-to-income ratio of 32.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Monterey County's rent compare to the state average?

Monterey County's median rent of $1,995/mo is 23% above state average of $1,618/mo for California.

What is the median home value in Monterey County?

The median home value in Monterey County, California is $723,100. This is 157% above the national median home value of $281,900.