Monterey County, located in California, is a popular destination for visitors seeking to experience the region's natural beauty. It offers a wide range of activities from beach-going to hiking and biking trails through the rugged terrain. With its temperate climate, Monterey County also attracts many businesses such as technology companies like Oracle and Adobe that are drawn to the county’s educated workforce. The cost of living in Monterey County compared to the US average is on the higher end, with a two bedroom apartment averaging $2,680 per month rent versus $1,430 nationally; however grocery costs are lower than national averages at 107 index versus 100 nationally. Overall it is an attractive place to live or visit for people looking for an escape to nature’s beauty combined with an enjoyable work-life balance.
Monterey County has an unemployment rate of 10.4%. The US average is 6.0%.
Monterey County has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 27.1%, which is lower than the US average of 33.5%.
Tax Rates for Monterey County
- The Sales Tax Rate for Monterey County is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Monterey County is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Monterey County
- The average income of a Monterey County resident is $25,048 a year. The US average is $28,555 a year.
- The Median household income of a Monterey County resident is $82,013 a year. The US average is $69,021 a year.