salaryRent here is among the highest 10% in the country. A typical house costs about 9.8 years of household income, so buying is hard for most locals.
How much money do I need?
To rent here comfortably, you should earn about $140,040 a year. That is $67 an hour at a full-time job.
Is rent cheaper than other California cities?
No. Rent here is more expensive than in most of California. It is number 584 of 653 cities from cheapest to most expensive.
How much do households earn in Monterey Park?
Share of households by yearly income. 33.3% of households earn $100,000 or more.
Rent by apartment size in Monterey Park
| Size | Monterey Park | U.S. average |
|---|---|---|
| Studio | $1,227 | $1,338 |
| 1 bedroom | $1,675 | $1,324 |
| 2 bedrooms | $2,076 | $1,509 |
| 3 bedrooms | $2,736 | $1,698 |
| 4 bedrooms | $2,665 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Monterey Park overall?
Everyday prices in California overall are 11% above the U.S. average (index 110.7, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Monterey Park, so the California figure is shown.
Taxes and bills in Monterey Park
Life in Monterey Park
Is it cheaper to rent or buy in Monterey Park?
Renting is cheaper right now: about $2,487 a month less.
Owning assumes a typical $863,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $86,300 for the down payment.
Frequently asked questions
What is the average rent in Monterey Park, CA?
Renting in Monterey Park costs a median of about $3,500+ a month in 2026, including utilities. The California median is $2,357.
How much do I need to make to live in Monterey Park?
To keep rent under 30% of income, you need about $140,040 a year, or $67 an hour at a full-time job.
Is Monterey Park cheap or expensive?
Monterey Park is rated Expensive: rent takes 47.6% of the typical household income of $88,281. It ranks 584th cheapest of 653 California cities we track.
How much are property taxes in Monterey Park?
The median homeowner in Monterey Park pays $5,957 a year in property taxes, about 0.69% of the median home value.
Is Monterey Park more expensive than the national average?
Overall prices in California are 11% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Monterey Park?
The median home value in Monterey Park is $863,000, about 9.8 times the typical yearly household income.
59,132 people live in Monterey Park. Numbers are typical (middle) values.