Cost of Living in Monterey, CA
Population: 29,772 • 2026 Data
$104,110
Median Household Income
+35% vs national
$2,288
Median Monthly Rent
+70% vs national
$1,003,300
Median Home Value
+196% vs national
4.4%
Unemployment Rate
Housing in Monterey
The median home value in Monterey, CA is $1,003,300. Monthly rent for a typical unit averages $2,288, while total monthly housing costs (including utilities and insurance) average $2,283.
Rent-to-income ratio: 26.4%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Monterey, CA is $104,110. The unemployment rate stands at 4.4%, with a labor force of 17,944 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.