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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Monterey, CA Housing Affordability Index

Monterey, California has an MBR Housing Affordability Index score of 59.5 (Significantly Less Affordable) as of October 30, 2026, ranking 738th most affordable of 785 scored California cities, compared with 67.5 statewide and 97.4 nationally. On a median-priced $1,076,300 home with 20% down, the California average 30-year fixed rate of 7.25% means a monthly principal and interest payment of about $5,874, or 69% of the city’s $102,846 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Monterey is updated every night from live California mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Monterey MBR-HAI 59.5 Significantly Less Affordable
Rank in California 738 of 785 1 = most affordable
California 67.5 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.25% California lenders
Median home value $1,076,300 U.S. Census Bureau

Monterey is 8.0 points below the California score. Scores as of October 30, 2026. See the California index

View Monterey Mortgage Rates

What It Takes to Buy in Monterey

$5,874/mo
Principal & Interest
Median home, 20% down, 7.25%
$251,700
Income Needed
To keep the payment at 28% of income
$102,846
Median Household Income
California: $99,122
10.5x
Price-to-Income Ratio
California: 7.4x
$2,324/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$7,108/yr
Median Property Tax
0.66% of median value
37.9%
Owner Cost Burden
Owners spending 30%+ of income on housing
54.5%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Monterey, California. The rate is the California average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Monterey Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Monterey, California score: 59.5 (Significantly Less Affordable), ranked 738 of 785 California cities. monitorbankrates.com/housing-affordability-index/california/monterey”