Monterey County, California Housing Market Prices
Monterey County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 20% above the California median More expensive than 79% of counties in California$782,751
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Median rent 1% above the California median More expensive than 74% of counties in California$2,055
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Monterey County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $782,751 | $650,794 | $248,835 |
| Price Trend (Annual %) | 5.2% | 8.9% | 7.5% |
| Median Gross Rent | $2,055 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 6.2% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Monterey County is about 20% higher than in California. Rent is about 1% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Monterey County, up about 5.2% and 6.2% a year respectively. Rent is changing faster.
Median rent in Monterey County rose about 66.4% between 2015 and 2024, from $1,235 to $2,055. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 8.0 yearly household incomes in Monterey County.
Buying the median-priced home in Monterey County costs roughly 31.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Monterey County. The price-to-rent ratio in California is about 26.6.
| Metric | Monterey County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $782,751 | $650,794 | $248,835 |
| Median Household Income | $97,252 | $99,161 | $80,455 |
| Price-to-Income Ratio | 8.0 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Monterey County rose about 65.9%, while median household income rose about 58.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Monterey County | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.4% | 51.7% | 58.5% |
| Rental Rate | 43.6% | 40.8% | 31.2% |
| Vacancy Rate | 8.9% | 7.5% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Monterey County has a homeownership rate of 47.4%, lower than the California average of 51.7%. Its housing vacancy rate is 8.9%, compared with 7.5% in California.
Housing Stock
| Metric | Monterey County | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.16 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1975 | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.0 | 5.5 |
The typical housing unit in Monterey County was built around 1975. On average, 3.2 people live in a home with about 5.0 rooms, staying for about 15.0 years on average.
Monterey County, CA Housing Compared With Nearby Counties
Monterey County, CA is the 2nd largest of the 6 counties compared here, 437,328 residents against a local median of 281,514. There is no headline here. Every measure below sits within 15% of the median across the nearest counties, which makes Monterey County, CA an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is homeownership, 13% below the local median at 52.1% against 59.9%. Monterey County, CA has the 6th highest homeownership of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Monterey County, CA | 437,328 | $782,751 #4/6 | $2,055 #3/6 | 52.1% #6/6 |
| San Benito County, CA | 67,290 | $653,703 | $1,991 | 67.9% |
| Santa Cruz County, CA | 264,809 | $1,111,762 | $2,264 | 59.9% |
| Santa Clara County, CA | 1,901,257 | $1,378,776 | $2,856 | 55.1% |
| Merced County, CA | 290,118 | $343,279 | $1,342 | 54.0% |
| San Luis Obispo County, CA | 281,514 | $895,815 | $1,991 | 62.1% |
Frequently Asked Questions
Common questions about the housing market in Monterey County, California.
What is the median home price in Monterey County, California?
The median home price in Monterey County, California is $782,751, higher than the California average of $650,794.
What is the average home price in Monterey County, California?
The typical home price in Monterey County, California, reported as the median sale price, is $782,751. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Monterey County, California?
The median gross rent in Monterey County, California is $2,055 per month, higher than the California average of $2,036.
What was the median gross rent in Monterey County in 2020?
In 2020, the median gross rent in Monterey County, California was $1,599 per month.
What is the price-to-rent ratio in Monterey County, California?
The price-to-rent ratio in Monterey County, California is about 31.7, meaning it would take roughly 31.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Monterey County.
Are home prices or rent rising faster in Monterey County, California?
Both home prices and rent are rising in Monterey County, up about 5.2% and 6.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Monterey County, California?
47.4% of households in Monterey County, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Monterey County, California?
The housing vacancy rate in Monterey County, California is 8.9%, higher than the California average of 7.5%.
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