Monterey, California, is a picturesque town made famous by the American author John Steinbeck. It has grown quite a lot since the early 20th century but still keeps its village-like atmosphere. If you think this city might be right for you, find out what the cost of living is and get started on your apartment search.
What is the cost of living in Monterey, California?
The cost of living in Monterey is about 46% higher than the national average and 12% higher than the rest of the state. Best Places ranks cities on an average of 100, meaning that anything over 100 is more expensive than the U.S. average. Monterey has an overall cost of living of 176. The thing that affects the cost of living most in Monterey is housing. Rent is very high, and finding the perfect place to live can be a competitive process. On the plus side, the average yearly salary in Monterey is higher than the national average, about $67,874 a year.
However, not everything in Monterey costs an arm and a leg. Both utilities and transportation have a lower U.S. average of 87 and 92, respectively. Also, miscellaneous costs like entertainment, clothing, and restaurants are on par with the national average costs. So when you are thinking about moving to Monterey, housing should be the major factor to consider.
How expensive is an apartment in Monterey?
These are the average costs of an apartment in Monterey:
- Studio apartment: $1,442 per month
- One-bedroom apartment: $1,725 per month
- Two-bedroom apartment: $2,200 per month
- Three-bedroom apartment: $3,150 per month
- Four-bedroom apartment: $3,500 per month
Keep in mind these are just the general prices. There are only 16 neighborhoods in Monterey, covering only 8 square miles. Prices will not fluctuate very much unless you are living on the beach in neighborhoods like Del Monte Beach, New Monterey, and Oak Grove. These areas are right on the beach and have limited apartment and rental options.
What is the cheapest rent in Monterey?
Monterey is an extremely small city with a population of about 28,300 people. So, you will not find large apartment complexes with a wide range of prices. However, there are some areas where you can find a decently priced apartment:
- Sloat Apartments: In the tiny neighborhood of Oak Grove, in this small apartment complex, you can find one-bedroom apartments for an average cost of $1,595.
- The neighborhood of Old Town: Again, large apartment complexes are not common in the city of Monterey, but the neighborhood of Old Town has a lot of single-room apartments for an average of $1,500. These apartments are within walking distance of the downtown area.
- Arkwright Apartments: Technically, these apartments are in Pacific Grove, California, a few hundred feet outside Monterey. Here you can find a one-bedroom apartment for $1,350 and two-bedroom apartments for around $1,675.
- Del Sol Apartments: This is another apartment complex located just outside Monterey in the town of Seaside. Here you can find a one-bedroom apartment for an average of $1,395.
Finding the cheapest rent in Monterey will take some research as most apartments are not part of a larger complex and are individually listed. This also means that you will be dealing with a local landlord who may only have you as a renter. This could result in creating a contract that is more specific to your needs.
How do I find cheap apartments in Monterey?
Living in Monterey can be quite expensive, but there are a few tips you can follow in order to keep your costs within your budget:
- Sign a longer lease: Many landlords will offer you a discount or lower monthly rate if you sign a long lease as opposed to a month-to-month lease. If you are sure this is an apartment you love and in a location where you want to live for a while, offering to sign a long lease can be beneficial for both you and your landlord.
- See if there are referral discounts: Some landlords or apartment companies will offer discounts if you send them new renters. See if there are other vacancies in the apartment and offer to help the landlord find renters for a fee.
- Offer to pay rent early: Landlords hate dealing with late rent payments. If you can pay your rent early every month, you may work out a deal with your landlord where they give you a lower monthly rate as long as you pay early.
- Look at less popular areas: You may find great deals in parts of the downtown area or on the coast, but it can be easier and cheaper to look at less popular neighborhoods, away from the town center.
How much do utilities cost in Monterey?
Basic utilities including electricity, heating, cooling, water, and garbage cost an average of $162 a month, a little above the national average. However, many apartments and condos may include utilities in the rent, so be sure to ask your landlord about this possibility. The cost of cable, internet, and cellular data is on par with the rest of the country. For about $68 a month, you can pay for cable, unlimited data, and 60Mbps or more for internet.
What are the best free activities in Monterey?
As Monterey is located on the beautiful and rugged California coast, there’s no limit to the amount of fun and free activities. An obvious choice is to spend some time at one of the many beautiful beaches. Or, you could go for a walk on the Monterey Bay Coastal Recreation Trail. You can also explore the downtown area by taking the free trolley with stops at Downtown Monterey, Fisherman’s Wharf, and Cannery Row. You can also visit Pfeiffer Big Sur State Park, a beautiful stretch of land that is famous for its amazing coastlines, redwood forests, and epic hiking trails.
The majestic beauty of Monterey is just one of the many reasons so many people choose to move to this tiny town on the California coast. Although rental prices are high and competitive, the gorgeous views, high yearly salary, and small-town lifestyle make this an incredibly desirable place to live.
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