Data through September 2026 · updated 2026-11-08 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$841,129+1.2% YoY · prices are rising
Market right nowBalanced, leaning sellersFewer homes for sale than last year, 18% have cut their price
Income needed to buy, per year$182,339About 2.0× the local median income ($91,761): hard to afford
Days on market68 daysAbout the same pace as a year ago
Next 12 months+1.5%Zillow expects prices to rise slightly
The typical home in Monterey County, CA is worth $841,129, up 1.2% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $780,281, so the area is 7.8% overvalued. It is a balanced market, leaning toward sellers: homes take about 68 days to sell, listings are down 5% from a year ago, 18% of listings have had a price cut. Zillow expects prices to rise about 1.5% over the next year. A household needs about $182,339 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $91,761. Typical rent is $2,771 a month, or $4,303 for a house. In the latest IRS figures, 4,550 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$841,129
Change in 1 year
+1.2%
Overvalued %
+7.8%
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Fair home value
$780,281
Change in 5 years
+13.7%
Zillow forecast, next 12 months
+1.5%
Home value to income
9.2×
Monthly mortgage payment (20% down)
$4,558
Income needed to afford it
$182,339
Property tax rate
0.63%
Rent and investing
Typical rent
$2,771
Typical rent for houses
$4,303
Price-to-rent ratio
25.3×
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HUD Fair Market Rent, 2 bedrooms
$2,416
Gross rental yield
3.95%
Cap rate (estimate)
2.57%
Market activity
Listings vs a year ago
−4.9%
Days on market
68
Listings with a price cut
17.8%
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Homes for sale
542
Pending sales per 100 listings
36
Asking price per sq ft
$677
People and jobs
Median household income
$91,761
Population change (1 year)
+0.1%
Unemployment rate
5.2%
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Population
433,729
Income adjusted for cost of living
$84,184
Net moves in (IRS)
−4,550
Cost of living (US = 100)
109.0
Schools, risk and environment
School rating (1 to 10)
3.6
FEMA hazard risk score (0 to 100)
98.7
Unhealthy air days a year
0
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Flood risk score
97.3
Wildfire risk score
98.7
Walkability (1 to 20)
11.8
Road, rail and air noise
54 dB
Questions people ask
Is Monterey County, CA overvalued?
Home prices in Monterey County, CA are slightly above what local incomes have historically supported: fair value is about $780,281, so the area is 7.8% overvalued.
Is Monterey County, CA a buyer's or seller's market?
Monterey County, CA is a balanced market, leaning toward sellers: homes take about 68 days to sell, listings are down 5% from a year ago, 18% of listings have had a price cut.
Are home prices going down in Monterey County, CA?
Home values in Monterey County, CA are up 1.2% over the last year. Zillow's forecast for the next 12 months is +1.5%.
How much do you need to earn to buy a home in Monterey County, CA?
A household needs about $182,339 a year to afford the typical home in Monterey County, CA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $91,761.