Cost of Living in Monterey, CA
Housing
The housing market plays a significant role in determining the cost of living in Monterey, CA.
- Housing Index: 160.3 / 100
- Median Home Price is: $1,135,000
- Average Rent (2 BR Apartment): $3000 per month
- Average Rent (2 BR House): $3060 per month
Considering moving to Monterey, CA? The housing index of 160.3 indicates a costly real estate market. A median home price of 1135000 along with high average rents of 3000 for a 2-bedroom apartment and 3060 for a house reflects a competitive housing landscape. Keep in mind that, while renting may provide flexibility, homeownership can build long-term equity. With its vibrant community and amenities, investing here could be worthwhile; however, weigh your options carefully against your budget and lifestyle priorities.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Monterey, CA.
- Electricity Price: $32.99 USD (median by state)
- Natural Gas Price: $16.99 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Monterey, CA could entail higher utility costs. Electricity costs sit at $32.99, while natural gas is priced at $16.99 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Monterey is a financially viable option for your relocation.