Monterey, CA housing market
The typical Monterey home is worth about $1,160,000, up 0.8% in a year, 52% above the California typical home. Homes typically sell in 39 days, below asking.
Home values, sales, trends and how Monterey compares with the towns next door — updated as new data is published.
Monterey at a glance
A seller's market
Supply is tight — about 3.4 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Monterey | California |
|---|---|---|
| 2017 | $729,000 | $453,000 |
| 2018 | $785,000 | $501,000 |
| 2019 | $824,000 | $539,000 |
| 2020 | $830,000 | $551,000 |
| 2021 | $914,000 | $607,000 |
| 2022 | $1,073,000 | $703,000 |
| 2023 | $1,122,000 | $727,000 |
| 2024 | $1,176,000 | $758,000 |
| 2025 | $1,193,000 | $782,000 |
| 2026 | $1,150,000 | $767,000 |
| August 2026 | $1,160,000 | $764,000 |
5 new homes permitted in 2025
Builders were permitted 5 new homes in Monterey in 2025, all single-family houses. That's 0.2 per 1,000 residents, slower than across California (2.7). Over the past 10 years, Monterey has permitted 108 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Monterey gained 2,408 residents while 93 new homes were permitted: about 26 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across California: 2.7 new residents per new home.
How Monterey ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 5 | 5 | 0 | $639,000 |
| 2024 | 13 | 8 | 5 | $3.5 million |
| 2023 | 14 | 14 | 0 | $1.8 million |
| 2022 | 6 | 6 | 0 | $1.6 million |
| 2021 | 18 | 4 | 14 | $8 million |
| 2020 | 14 | 4 | 10 | $6.2 million |
| 2019 | 14 | 4 | 10 | $6.2 million |
| 2018 | 2 | 2 | 0 | $351,000 |
| 2017 | 20 | 1 | 19 | $4.4 million |
| 2016 | 2 | 2 | 0 | $1.3 million |
| 2015 | 35 | 3 | 32 | $6.1 million |
| 2014 | 2 | 2 | 0 | $799,000 |
| 2013 | 2 | 2 | 0 | $751,000 |
| 2012 | 2 | 2 | 0 | $174,000 |
| 2011 | 12 | 7 | 5 | $6.3 million |
| 2010 | 2 | 2 | 0 | $657,000 |
| 2009 | 17 | 3 | 14 | $3.8 million |
| 2008 | 10 | 7 | 3 | $4.5 million |
| 2007 | 7 | 7 | 0 | $4.5 million |
| 2006 | 21 | 21 | 0 | $7.6 million |
| 2005 | 7 | 7 | 0 | $2.8 million |
| 2004 | 9 | 9 | 0 | $3.5 million |
| 2003 | 20 | 3 | 17 | $2.7 million |
| 2002 | 35 | 3 | 32 | $2.9 million |
| 2001 | 16 | 16 | 0 | $3.5 million |
| 2000 | 29 | 21 | 8 | $5.2 million |
How Monterey ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Monterey and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Monterey | $1.16M | +0.8% | $3,200 | 5 | $102,846 |
| Del Monte Forest | $2.95M | +6.1% | $3,510 | — | $142,763 |
| Seaside | $789K | −1.1% | $2,830 | 67 | $85,311 |
| Del Rey Oaks | $878K | +0.8% | $3,030 | 10 | $134,500 |
| Pacific Grove | $1.36M | +1.6% | $3,560 | 12 | $106,065 |
11.3 years of income
The typical Monterey home costs about 11.3 years of the town's median household income, more than across California (7.7 years).
How Monterey ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $3,200
HUD's Fair Market Rent for a two-bedroom in Monterey is $3,200 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Monterey pay a median of $2,353, so moving in tends to cost more than staying put. A two-bedroom takes about 37% of the town's median household income, above the 30% guideline for affordable housing.
Studio $2,590 · 4 bedrooms $4,700
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (93940, 93943, 93944; Salinas, CA MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Monterey
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.