Monterey, CA housing market
Typical home value
$1.15M
▲ 1.4% 1 yr
Typical rent
$2,696/mo
▲ 2.0% 1 yr
Gross rent yield
2.8%
U.S. 6.3%
5-year home value change
+12%
U.S. +20%
Key takeaways
- 1The typical home in Monterey is worth $1,153,012, up 1.4% over the past year and up 12% over five years.
- 2Typical rent is $2,696 a month (+2.0% YoY), a gross rent yield of 2.8% (below the Salinas, CA metro's 4.0%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $6,336/mo, $3,640 more than typical rent.
- 4Zillow forecasts the Salinas, CA metro's home values to change +1.5% over the next 12 months.
Market temperature (Salinas, CA metro)
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 54/100, #90 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Monterey compares
| Measure | Monterey | Salinas, CA metro | United States |
|---|---|---|---|
| Typical home value | $1,153,012 | $841,133 | $366,157 |
| Home value, 1-yr change | +1.4% | +1.2% | +1.2% |
| Typical rent | $2,696 | $2,771 | $1,932 |
| Rent, 1-yr change | +2.0% | +0.8% | +2.7% |
| Gross rent yield | 2.8% | 4.0% | 6.3% |
| Price-to-rent ratio | 35.6 | 25.3 | 15.8 |
| Mortgage P&I, typical home | $6,336 | $4,622 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Monterey rental, pre-filled.
Rent vs buy in Monterey
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $1.15M home.
Landlord in California? See California deposit, late fee and notice rules.
Other cities in the Salinas, CA metro
Salinas, CA
$748K home$2,530 rent
▲ 1.7% 1 yr
Seaside, CA
$783K home$2,938 rent
▼ 0.9% 1 yr
Marina, CA
$861K home$2,873 rent
▼ 0.1% 1 yr
Pacific Grove, CA
$1.37M home$3,176 rent
▲ 1.6% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.