How much rent can you afford in Monterey, CA?
Run your salary against Monterey's current rent, or find the income you'd need for a target rent. Powered by live RentDataNow medians.
The 30% rent rule, in Monterey
At a median rent of $2,696/mo, Monterey is moderately stretched when measured against Monterey median household income of $102,846/yr. Rent would consume roughly 31% of pre-tax income, and a salary of about $107,840 keeps rent at the recommended 30% threshold.
How Monterey compares nearby
Median rent for the closest cities with data.
Frequently asked
How much rent can I afford in Monterey?
On a $102,846 salary (the Monterey median household income), the recommended ceiling is 30% of pre-tax income, or about $2,571/mo. Monterey's median rent is $2,696/mo. Use the calculator on this page to run your own salary.
What salary do I need to live in Monterey?
To keep Monterey's $2,696/mo median rent under 30% of income, you'd need about $107,840/yr. Lower your target share (e.g. 25%) to need more, or raise it (e.g. 40%) to need less.
Is Monterey affordable on the median California income?
Monterey is moderately stretched on a $102,846 income. Rent would take 31% of pre-tax pay, outside the recommended 30% threshold.
What's the 30% rent rule?
The 30% rule is a long-standing budgeting guideline that keeps rent at or below 30% of gross (pre-tax) income. It leaves enough room for utilities, transit, savings, and debt service. In high-cost markets, many renters exceed 30%, and the Census Bureau classifies households paying more than 30% of income on rent as "cost-burdened".