Cost of Living in Monterey County, California
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Monterey County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Monterey County ranks #2,616 of 3,144 counties for affordability (bottom 17%)
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.
Cost of Living Advisory: Monterey County
Affordability Verdict
Monterey County is moderately affordable for renters, with a median gross rent of $1,995/month representing approximately 25.3% of median household income. The rent burden (GRAPI) stands at 32.0%.
Rent vs. Own
Renters in Monterey County pay $1,995/month on average, compared to $2,087/month for homeowners. This market favors renters by about 4%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $79,800/year. For owner costs at the 28% rule, the required income is roughly $89,443/year. With a median household income of $94,486, most households can comfortably afford rent here. Notably, 32.0% of renter households in Monterey County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within California, Monterey County is less affordable than Santa Barbara County by roughly 3% ($1,995/mo vs $2,050/mo).
Affordability Calculator
See how your income compares to housing costs in Monterey County
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
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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