Monterey, CA
Population 29,772 · California
About Monterey, CA
Monterey is a mid-sized city located in California with a population of 29,772 residents according to the latest US Census Bureau American Community Survey data. The median household income is $104,110 per year, which is 39% above the national median of $75,149. The median age of 37.1 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Monterey features a median home value of $1,003,300, which is 310% above the national median of $244,900. This places Monterey in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,288, 97% above the national average of $1,163/month. Of the 13,760 total housing units, 38% are owner-occupied (4,704 units) and 62% are renter-occupied (7,716 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Monterey shows an unemployment rate of 5.5%, which is near the national rate of 3.7%. The poverty rate stands at 10.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Monterey have an average one-way commute time of 18.6 minutes, one of the shorter commutes in the region.
Education & Demographics
54.4% of Monterey residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 14.2% White, 2.2% Hispanic or Latino, 0.4% Black or African American, and 6.2% Asian residents, with 15.7% of the population being foreign-born.
Cost of Living in Monterey, CA
Compared to national averages, Monterey has a median household income of $104,110 (39% above the national median of $75,149). Home values average $1,003,300, which is 310% above the national median. Monthly rent at $2,288 is 97% above the US average of $1,163. Within California, Monterey's income is 6% above the state average of $97,829, and home values are 53% above the state median of $653,874.
Why Live in Monterey, CA?
Monterey offers a strong local economy with a median household income of $104,110, well above the national average, and a well-educated community where 54.4% of residents hold a bachelor’s degree or higher, and a low poverty rate of 10.5%, better than the national average. Additionally, the city features short commute times averaging just 18.6 minutes.
Potential considerations include a competitive housing market where the typical home costs $1,003,300. However, Monterey’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Monterey has a population of 29,772 with a median age of 37.1 years. Compare Monterey with other cities to see how it stacks up, or explore all cities in California.
Similar Cities Near Monterey
Cities in California with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| San Carlos | 29,797 | $233,333 | $2,000,001 | Compare |
| Atascadero | 29,735 | $88,830 | $673,400 | Compare |
| San Lorenzo | 29,453 | $110,495 | $833,800 | Compare |
| Eastern Goleta Valley | 29,411 | $136,839 | $1,192,000 | Compare |
| Saratoga | 30,335 | $241,348 | $2,000,001 | Compare |
| Suisun City | 29,205 | $97,083 | $551,000 | Compare |
| East Palo Alto | 29,143 | $104,832 | $1,124,000 | Compare |
| Burlingame | 30,526 | $168,832 | $2,000,001 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in California
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Monterey With Other Cities
Frequently Asked Questions about Monterey
What is the population of Monterey, CA?
The population of Monterey, CA is 29,772 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in California.
What is the median household income in Monterey?
The median household income in Monterey, CA is $104,110 per year, which is 39% above the national median of $75,149.
What is the median home value in Monterey?
The median home value in Monterey, CA is $1,003,300, which is 310% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Monterey?
The median monthly rent in Monterey, CA is $2,288, which is 97% above the national average of $1,163/month.
What is the unemployment rate in Monterey?
The unemployment rate in Monterey, CA is 5.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Monterey, CA a good place to live?
Monterey offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 29,772 and a median age of 37.1, the city appeals to a broad range of residents.
How educated is Monterey, CA?
54.4% of residents in Monterey aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Monterey?
Key cost-of-living indicators for Monterey, CA: median home value is $1,003,300 (310% above national), median rent is $2,288/month, and median household income is $104,110. The home-value-to-income ratio is 9.6x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Monterey?
The poverty rate in Monterey, CA is 10.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Monterey, CA?
Monterey's population is 14.2% White, 2.2% Hispanic or Latino, 0.4% Black or African American, 6.2% Asian, and 3.2% two or more races. 15.7% of residents are foreign-born.