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Cost of Living in Monterey County

Is it better to rent or buy in Monterey County? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$99,364
$2,055/mo

Median in area: $2,055

$796,108

Median in area: $796,108

$159,222

If you Rent

🔑
$2,246 /mo
Base Rent$2,055
Est. Utilities$191
% of Income27.1%
Pre-tax Residual$6,034

If you Buy

🏠
$4,874 /mo
P&I (6.884%)$4,188
Taxes & Ins$495
Est. Utilities$191
% of Income58.9%
Pre-tax Residual$3,407

Compare Nearby Areas

See how Monterey County stacks up against neighboring areas.

countyKings County, CA
$1,421/mo
countySanta Cruz County, CA
$2,289/mo
countyFresno County, CA
$1,568/mo
countySan Luis Obispo County, CA
$2,064/mo
countySan Benito County, CA
$1,998/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Monterey County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Monterey County. The estimated all-in monthly cost for renting is $2,246, while owning a median-priced home with a 20% down payment is roughly $4,874 per month (a difference of $2,628).

How much do utilities cost in Monterey County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Monterey County is approximately $191. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Monterey County?›

To comfortably afford the median rent and utilities in Monterey County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $89,840 per year.