Rents are right about where Monterey Park's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,649 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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Who lives here
Monterey Park, CA is roughly split between renters and owners, has a large retiree population, 36.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Monterey Park, CA has changed in 5 years
Across the past five years, the going rent in Monterey Park, CA has shifted from $1,880 to $2,649, up 40.9% since 2021. On the earnings side, the typical household in Monterey Park, CA now reports about $81,855, up from $68,497 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Monterey Park, CA losing about 2,021 residents over the five-year window, down 3.3% on net. Bachelor's-degree-or-higher attainment moved from 33.6% to 36.2% across the same window. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and Monterey Park, CA reflects that arc in its own way.
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Can you afford rent in Monterey Park on your salary?
At $2,649/mo, how Monterey Park rent compares to typical pay (30% rule).
Monterey Park rent by bedroom count
Median rent for each apartment size in Monterey Park. Click any size for full breakdown.
Tips for renters in Monterey Park
Last updated: August 17, 2026
The median rent in Monterey Park is $2,649/mo as of August 2026. A studio apartment averages $1,625/mo while a 2-bedroom runs $2,310/mo. One-bedroom apartments average $1,830/mo and 3-bedroom units go for $2,950/mo.
At 39% of local median household income ($81,855/yr), Monterey Park ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.0% over the past year.
Frequently asked questions
Is Monterey Park an affordable city for renters?
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Is rent going up or down in Monterey Park?
Which Monterey Park neighborhoods have the lowest rent?
How does Monterey Park rent compare to other cities in California?
Which nearby cities are cheaper to rent in than Monterey Park?
What percentage of Monterey Park residents rent vs. own?
How does Monterey Park rent compare to the national average?
At $2,649/mo, rent takes ~39% of Monterey Park's median household income ($81,855/yr). The standard benchmark is 30%.
How does this area stack up?
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Estimated from ZIP-level data
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