Rents are 5% below what Monterey's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
Bedroom figures are derived from HUD Fair Market Rents and scaled to match Monterey's market median, because the published HUD values all ran above it. They are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in Monterey usually run 0.8% below trend in February and 0.7% above it in August, about $40 a month apart at today's median. Based on 10 years of data.
Rent in Monterey is 0.3% below its high of $2,705 in August 2026, at $2,696 as of September 2026.
Rent in Monterey changed +2.2% over the year to September 2026. Across the 336 California cities Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in Monterey rose 31.1% while median household income rose 27.5% ($80,694 to $102,846). Rent outpaced income.
Rent in Monterey is 36.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 8 of the last 12 months.
30% of the median household income ($102,846) is $2,571 a month. That is less than HUD's Fair Market Rent for a studio ($2,880).
From Zillow's monthly rent index (ZORI) for Monterey. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Is your rent fair?
Compare your rent to the local median.
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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Monterey, CA has changed in 5 years
Across the past five years, the going rent in Monterey, CA has shifted from $2,034 to $2,696, up 32.5% 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.
Discussions about Monterey
No discussions yet. Start the conversation.
Can you afford rent in Monterey on your salary?
At $2,696/mo, how Monterey rent compares to typical pay (30% rule).
Monterey rent by bedroom count
Median rent for each apartment size in Monterey. Click any size for full breakdown.
Tips for renters in Monterey
Last updated: October 17, 2026
The median rent in Monterey is $2,696/mo as of October 2026. A studio apartment averages $2,017/mo while a 2-bedroom runs $2,494/mo. One-bedroom apartments average $2,073/mo and 3-bedroom units go for $3,362/mo.
At 31% of local median household income ($102,846/yr), Monterey ranks as moderate compared to the national benchmark of 30%. Rents have increased 2.2% over the past year.
Frequently asked questions
How much income do you need to rent in Monterey?
Is rent going up or down in Monterey?
When is the cheapest time to rent in Monterey?
Has rent outpaced income in Monterey?
How does Monterey rent compare to other cities in California?
Which nearby cities are cheaper to rent in than Monterey?
At $2,696/mo, rent takes ~31% of Monterey's median household income ($102,846/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Monterey.
No discussions yet.