$8,500 Per Month
- 3 Beds
- 3.5 Baths
- 3,711 Sq Ft
- House for Rent
1 Overlook Place, Monterey, CA 93940
1 Overlook Place, Monterey, CA 93940
Frequently Asked Questions
How much does it cost to rent a home in Monterey, CA?
The median rent for a home in Monterey, CA is $2,997 per month, though prices vary by neighborhood, size, and property type. As of June 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Monterey, CA?
To comfortably afford the median rent in Monterey, CA, a household needs to earn roughly $119,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,997 per month in Monterey, CA, renters typically need to show $8,991 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Monterey, CA?
In Monterey, CA, the price-to-rent ratio is 32.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Monterey, CA are best for renting a home?
The best neighborhood for renting in Monterey, CA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include New Monterey, East Monterey, Old Town, Monterey Vista and Corral de Tierra, each with its own character and price range.
