Monterey, CA is known for its luxurious and expensive housing. The median value of homes in this area is an astounding $1,022,100 while the US median is $338,100. Although the appreciation rate of homes in Monterey, CA is slightly lower than that of the US at 8.27% and 7.80%, respectively, it still shows that people are willing to invest a lot of money into this area. With its attractive natural resources and beautiful scenery, it's no wonder why properties are so sought after here.
The median home cost in Monterey is $1,022,100. Home appreciation the last 10 years has been 157.7%. Home Appreciation in Monterey is up 14.7%.
Average Age of Homes
- The median age of Monterey real estate is 48 years old
The Rental Market in Monterey
- Renters make up 58.3% of the Monterey population
- 1.9% of houses and apartments in Monterey, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.