Monterey County California Residential Rent and Rental Statistics
The median monthly gross residential rent in Monterey County CA was $1,658 in 2019 according to the Census ACS survey.1 Average gross rent in Monterey County was $1,707 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Monterey County median and average rent data will be released in September of 2021.
Data is also available below for Monterey County rental vacancy rates, Monterey County rent as a percent of median income and the fraction of renters in Monterey County.
Real Gross Rent in Monterey County California (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| California Median Gross Rent | $1,614 | +4.33% | +12.08% |
| Monterey County CA Median Gross Rent | $1,658 | +7.80% | +20.49% |
Monterey County CA Real Gross Rent Trends
At $1,658, real median gross rent in Monterey County was at its highest level in 2019 since the series began in 2005. At $1,707, real average gross rent in Monterey County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Monterey County CA Median, Monterey County CA Average, California Median, US Median
Real Gross Rent History for Monterey County
| Date | US Median |
California Median |
Monterey County CA Median |
Monterey County CA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,614 | $1,658 | $1,707 |
| 2018 | $1,077 | $1,547 | $1,538 | $1,541 |
| 2017 | $1,043 | $1,492 | $1,513 | $1,534 |
| 2016 | $1,027 | $1,440 | $1,376 | $1,440 |
| 2015 | $1,017 | $1,391 | $1,368 | $1,420 |
| 2014 | $986 | $1,339 | $1,302 | $1,366 |
| 2013 | $953 | $1,289 | $1,282 | $1,378 |
| 2012 | $940 | $1,277 | $1,261 | $1,379 |
| 2011 | $941 | $1,268 | $1,257 | $1,321 |
| 2010 | $955 | $1,300 | $1,293 | $1,368 |
| 2009 | $960 | $1,316 | $1,267 | $1,355 |
| 2007 | $927 | $1,266 | $1,247 | $1,328 |
| 2005 | $910 | $1,216 | $1,260 | $1,339 |
Monterey County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Monterey County California was 5.72% according to Census ACS data.
Rental Vacancy Rate in Monterey County California
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| California | 4.06% | +0.09% | +0.75% |
| Monterey County CA | 5.72% | +1.95% | +2.49% |
Trends in Monterey County CA Rental Vacancy Rate
The rental vacancy rate in Monterey County peaked in 2017 at 6.18%. Since then it has fallen by 0.46% to 5.72%. Data records for this series originated in 2005.
Rental Vacancy Rate: Monterey County CA, California, US
Historical Rental Vacancy Rate data for Monterey County
| Date | US | California | Monterey County CA |
|---|---|---|---|
| 2019 | 5.97% | 4.06% | 5.72% |
| 2018 | 6.15% | 3.97% | 3.77% |
| 2017 | 6.18% | 3.49% | 6.18% |
| 2016 | 5.89% | 3.31% | 3.23% |
| 2015 | 5.85% | 3.33% | 3.79% |
| 2014 | 6.32% | 3.90% | 6.13% |
| 2013 | 6.49% | 4.22% | 5.21% |
| 2012 | 6.77% | 4.51% | 3.26% |
| 2011 | 7.40% | 4.94% | 3.18% |
| 2010 | 8.17% | 5.86% | 4.07% |
| 2009 | 8.43% | 5.76% | 4.17% |
| 2007 | 7.87% | 4.72% | 3.82% |
| 2005 | 7.74% | 4.61% | 5.10% |
Rent as a Fraction of Income
Using median household income data for Monterey County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Monterey County, median monthly gross rent as a fraction of median household income was 25.67% in 2019 according to the ACS.
Monterey County California Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| California | 24.08% | -0.15% | -0.28% |
| Monterey County CA | 25.67% | +0.01% | +0.98% |
Trends in Monterey County CA Rent as a Fraction of Income
The fraction of median Monterey County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 26.27%. Since then it has fallen by 0.60% to 25.67%.
Fraction of Income towards Rent: Monterey County CA, California, US
Historical Data for Annual Rent as a Fraction of Income in Monterey County California
| Date | US | California | Monterey County CA |
|---|---|---|---|
| 2019 | 20.03% | 24.08% | 25.67% |
| 2018 | 20.50% | 24.23% | 25.65% |
| 2017 | 20.13% | 24.18% | 24.70% |
| 2016 | 20.43% | 24.36% | 24.69% |
| 2015 | 20.63% | 24.39% | 25.59% |
| 2014 | 20.89% | 24.57% | 25.57% |
| 2013 | 20.78% | 24.40% | 25.60% |
| 2012 | 20.65% | 24.69% | 24.47% |
| 2011 | 20.70% | 24.59% | 26.27% |
| 2010 | 20.50% | 24.18% | 25.46% |
| 2009 | 20.12% | 23.52% | 22.83% |
| 2007 | 18.66% | 21.58% | 22.31% |
| 2005 | 18.89% | 21.77% | 21.19% |
Renter Fraction in Monterey County California
You can calculate the renter fraction in Monterey County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Monterey County as a fraction of total Monterey County households. In 2019 47.17% of households were renters according to Census ACS data.
Monterey County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| California | 45.14% | -0.04% | -1.22% |
| Monterey County CA | 47.17% | -1.53% | -3.65% |
Trends in the Monterey County CA Renter Fraction
The Monterey County household renter fraction peaked in in 2011 at 52.59% and is now 5.42% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Monterey County CA, California, US
History of Monterey County Renter Fraction
| Date | US | California | Monterey County CA |
|---|---|---|---|
| 2019 | 35.89% | 45.14% | 47.17% |
| 2018 | 36.05% | 45.18% | 48.70% |
| 2017 | 36.13% | 45.21% | 48.73% |
| 2016 | 36.88% | 46.36% | 50.82% |
| 2015 | 36.97% | 46.41% | 50.94% |
| 2014 | 36.90% | 46.27% | 49.07% |
| 2013 | 36.50% | 46.21% | 50.68% |
| 2012 | 36.09% | 45.97% | 51.21% |
| 2011 | 35.42% | 45.12% | 52.59% |
| 2010 | 34.65% | 44.36% | 49.07% |
| 2009 | 34.13% | 43.43% | 49.57% |
| 2007 | 32.80% | 42.00% | 48.57% |
| 2005 | 33.10% | 41.56% | 44.46% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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