How much does it cost to rent in Monterey, CA?

As of July 2026, the median monthly rent in Monterey, CA is $2,822. This figure is based on aggregated data from public sources and community-submitted rents.

Is Monterey cheaper than other California cities?

Monterey falls in the middle range for California, ranking #185 out of 387 cities at $2,822/mo.

When was Monterey rent data last updated?

Monterey rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · CA

Monterey

Name: Average Rent Prices in Monterey, CA
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 29,613·185th most expensive in California·One of the pricier rental markets in the US

Median rent (all units)

$2,822/mo

Year-over-Year

-1.7%

Month-over-Month

+0.6%

vs US Median

+$857

Rising (Monthly)

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Most AffordableMost Expensive

Monterey · $2,822

More expensive than 87% of US cities · National median $1,965/mo

Rent Reality Score

57/100

Fairly priced

OverheatedFairGreat value

Rents are 4% below what Monterey's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$2,822/mo

Expected by trend

$2,930/mo

The Rent Reality Score compares today's median rent to where Monterey's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$2,112

1 BR

$2,170

2 BR

$2,610

3 BR

$3,519

4 BR+

$3,835

Research median

$2,610/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost

$33,864/yr

At $2,822/mo median

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (-1.7% YoY, +0.6% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Monterey, CA is majority renter-occupied, skews toward younger working-age adults, has a median income above the national average, 52.9% of residents hold a bachelor's degree or higher.

Population

29,613

Median income

$102,846

Median age

37.5

Renters

63.8%

Age distribution

14.3%

32.4%

21%

21.2%

Under 1814.3%

18–3432.4%

35–5421%

55–6411%

65+21.2%

Gender

50.7%

49.3%

Male50.7%

Female49.3%

Race & ethnicity

64.8%

23.6%

White64.8%

Black2.3%

Hispanic23.6%

Asian6.9%

Other2.4%

Education (25+)

12.5%

27.7%

52.9%

No HS diploma6.9%

HS diploma12.5%

Some college27.7%

Bachelor's+52.9%

Housing tenure

36.2%

63.8%

Owner36.2%

Renter63.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Monterey, CA has changed in 5 years

Rent

$2,129 → $2,822

up 32.6%

Income

$85,365 → $102,846

up 20.5%

Population

30,014 → 29,613

down 1.3%

Renter share

64.8% → 63.8%

-1.0 pts

Bachelor's+

54% → 52.9%

-1.1 pts

Across the past five years, the going rent in Monterey, CA has shifted from $2,129 to $2,822, up 32.6% since 2021. On the earnings side, the typical household in Monterey, CA now reports about $102,846, up from $85,365 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Monterey, CA losing about 401 residents over the five-year window, down 1.3% on net. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and Monterey, CA reflects that arc in its own way.

Community

Discussions about Monterey

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View Monterey rent history (2015–2026) →

Salary vs rent

Can you afford rent in Monterey on your salary?

At $2,822/mo, how Monterey rent compares to typical pay (30% rule).

Registered Nurse

Avg $111,486/yr · Rent = 30.4% income

stretched

Elementary School Teacher

Avg $79,154/yr · Rent = 42.8% income

rent-burdened

Police Officer

Avg $91,179/yr · Rent = 37.1% income

stretched

Software Developer

Avg $162,970/yr · Rent = 20.8% income

affordable

Lawyer

Avg $208,235/yr · Rent = 16.3% income

very comfortable

Firefighter

Avg $74,116/yr · Rent = 45.7% income

rent-burdened

Truck Driver

Avg $66,918/yr · Rent = 50.6% income

severely rent-burdened

Electrician

Avg $82,482/yr · Rent = 41.1% income

rent-burdened

By apartment size

Monterey rent by bedroom count

Median rent for each apartment size in Monterey. Click any size for full breakdown.

Local insights

Tips for renters in Monterey

About renting in Monterey, CA

Last updated: July 20, 2026

The median rent in Monterey is $2,822/mo as of July 2026. A studio apartment averages $2,112/mo while a 2-bedroom runs $2,610/mo. One-bedroom apartments average $2,170/mo and 3-bedroom units go for $3,519/mo.

At 33% of local median household income ($102,846/yr), Monterey ranks as moderate compared to the national benchmark of 30%. Rents have decreased 1.7% over the past year.

FAQ

Frequently asked questions

Is Monterey an affordable city for renters?

Monterey is considered moderate for renters. At $2,822/mo, rent takes approximately 33% of the local median household income ($102,846/yr). The standard benchmark is 30%. Monterey slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Monterey?

To keep rent at or below 30% of gross income, you would need to earn at least $113,000/year (~$54/hour full-time) to afford the median rent of $2,822/mo in Monterey. The local median household income is $102,846/yr, meaning the typical Monterey household falls short of that threshold.

Is rent going up or down in Monterey?

Rent in Monterey has decreased 1.7% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does Monterey rent compare to other cities in California?

Monterey is middle-of-the-pack for California for rent, ranking #185 out of 387 tracked cities at $2,822/mo.

Which nearby cities are cheaper to rent in than Monterey?

Salinas is nearby and more affordable at $2,498/mo, which is $324 less than Monterey.

What percentage of Monterey residents rent vs. own?

According to Census data, approximately 63.8% of Monterey households are renters, while 36.2% are owner-occupied. With a majority renter population, Monterey has a strong rental market.

How does Monterey rent compare to the national average?

Monterey's median rent of $2,822/mo is $857 (44%) above the US national median of $1,965/mo. Within California, it ranks #185 out of 387 tracked cities.

Income Affordability

33%

MODERATE

At $2,822/mo, rent takes ~33% of Monterey's median household income ($102,846/yr). The standard benchmark is 30%.

Monterey 33%Benchmark 30%

State income tax1–13.3%

Run the Monterey affordability calculator →

Nearby cities