Monterey County, California Housing Market
In Monterey County, California, the median home value is $781,000, with a median monthly rent of $2,055. This places Monterey County at #35 nationally out of 3134 counties by median home value, and #17 within California.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,123
- Establishments: 15,291
- BLS QCEW, 2025
Housing Supply
- Single-family: 663
- Multi-family: 112
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 173,483 (avg $95,176)
- Outflow: 171,404 (avg $91,913)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Monterey County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 93926 | 302.0 | +12.77% | 2025 |
| 2 | 93924 | 250.2 | -17.27% | 2025 |
| 3 | 95012 | 311.9 | +16.14% | 2025 |
| 4 | 93451 | 422.1 | -3.75% | 2025 |
| 5 | 93950 | 284.0 | +4.88% | 2025 |
| 6 | 93940 | 263.1 | -2.22% | 2025 |
| 7 | 93908 | 247.7 | -0.65% | 2025 |
| 8 | 93927 | 356.8 | +6.91% | 2025 |
| 9 | 93905 | 328.6 | +4.89% | 2025 |
| 10 | 93960 | 334.2 | -1.76% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Monterey County Compares
| Metric | Monterey County | California Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $781,000 | $609,221 | $227,706 |
| Median Gross Rent | $2,055 | $1,690 | $968 |
| Owner Occupancy Rate | 52.1% | 63.4% | 73.3% |
| Price/Rent Ratio | 31.7 | 28.5 | 18.7 |
Market Analysis
The median home value in Monterey County is 28.2% above the California state average and 243.0% above the U.S. national average. The median rent of $2,055/month is 21.6% above the state average.
With a price-to-rent ratio of 31.7, Monterey County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Monterey County has an owner-occupancy rate of 52.1%, compared to 63.4% in California and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Monroe County | Florida | $780,600 | $1,999 |
| Wasatch County | Utah | $787,300 | $2,000 |
| Santa Barbara County | California | $790,700 | $2,131 |
| San Benito County | California | $793,400 | $1,992 |
| San Juan County | Washington | $799,200 | $1,512 |
Other Counties in California
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Santa Barbara County | $790,700 | $2,131 | 52.4% |
| San Benito County | $793,400 | $1,992 | 67.9% |
| Sonoma County | $815,500 | $2,158 | 62.6% |
| Ventura County | $822,700 | $2,317 | 64.6% |
| San Luis Obispo County | $824,700 | $1,992 | 62.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).