Monterey renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.
Rental Price Key
On average, the cost of rent in Monterey is about $2,283 per month. This puts it in the 88th percentile compared to the state average cost of rent, which is $1,931. Households in Monterey have a median income of $7,820 per month so the average renter in Monterey is spending roughly 29% of their earnings on housing.
Nationally, and in Monterey, home values are the data point most closely correlated with the cost of rent. The median price of a home in Monterey is $1,091,686 right now, which is lower than cities nearby, meaning that rents in Monterey also tend to be lower versus these nearby cities.
Higher rent prices are common in the southern parts of Monterey while lower rent rates are often available in central areas.
Nearby Cities
- Sand City, CA: less expensive rent prices
- Del Rey Oaks, CA: more expensive rent prices
- Pacific Grove, CA: less expensive rent prices
- Seaside, CA: less expensive rent prices
- Carmel-By-The-Sea, CA: less expensive rent prices
- Del Monte Forest, CA: more expensive rent prices
- Carmel, CA: more expensive rent prices
- Carmel Highlands, CA: less expensive rent prices
- Marina, CA: less expensive rent prices
- Carmel Valley Village, CA: more expensive rent prices
Cities with Similar Populations
- Rio Grande City, TX: less expensive rent prices
- Santa Paula, CA: less expensive rent prices
- Lockport, IL: less expensive rent prices
- Moca, PR: less expensive rent prices
- Fair Lawn, NJ: less expensive rent prices
- Dakota Ridge, CO: less expensive rent prices
- Barstow, CA: less expensive rent prices
- Mercedes, TX: less expensive rent prices
- Burlington, NJ: less expensive rent prices
- Galesburg, IL: less expensive rent prices
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