Market Overview
Home Prices in Monterey, CA
The median home value in Monterey, CA is $1,180,394 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.6% compared to a year ago and down 1.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Monterey are priced188% above average. Monterey is part of the Salinas, CA metro area.
Over the past five years, Monterey home values have risen by approximately13.8%, reflecting steady appreciation in this market.
Price History
Monterey Home Price Trend
City Comparison
Monterey vs. National Median
At $1,180,394, homes in Monterey cost 188% above the national median of $410,000. Buyers in Monterey should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Monterey?
20% Down Payment
$236,079
on $1,180,394
Monthly P&I
$6,156/mo
30-yr @ 6.8%
Total Monthly Est.
~$7,818/mo
incl. taxes & insurance
Income Needed
$312,720
gross annual (30% rule)
10% Down Option
$118,039
+ PMI applies
Loan Amount (20% dn)
$944,315
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Monterey, CA?
The median home value in Monterey is $1,180,394 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.6% year-over-year.
How much have home prices changed in Monterey?
Over the past year, home values in Monterey have decreased by 1.6%. Over five years, prices have risen approximately 13.8%.
How much do I need to earn to buy a home in Monterey?
To comfortably afford the median home price of $1,180,394 with a 20% down payment ($236,079) at today's rates (6.8%), you'd need a gross annual income of approximately $312,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Monterey compare to the national average home price?
The national median home value is approximately $410,000. At $1,180,394, homes in Monterey are 188% above the national average.
What metro area is Monterey part of?
Monterey is part of the Salinas, CA metropolitan area. Home prices and market conditions can vary across the broader metro region.