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Cost of homeownership in Monterey County, California

Real dollar cost of ownership, rent-vs-buy analysis, and flood risk, backed by Census ACS, FEMA, and FHFA data. Population: 437,609.

Median home value
$683,700
Median property tax
$4,494
Monthly owner cost
$2,661
with mortgage
Affordability (cost % of income)
19.9%

Total annual ownership cost

Breakdown of what owning a typical home in Monterey County costs each year.

  • Property taxes$4,494
  • Insurance estimate$1,500
  • Utilities / energy$3,514
  • Maintenance (1% of value)$6,837
  • Total$16,345/yr · $1,362/mo

Insurance and energy figures typically vary by property. Adjust in the calculators for a personalized estimate.

Total
$16,345
/ year

Rent vs. buy in Monterey County

Pre-filled with local median home value, median gross rent (Census ACS / HUD FMR), and current FRED rate.

Flood risk

Historical signal from FEMA National Flood Insurance Program.

MODERATE RISK
Total claims
142
Avg claim
$50,386
Active policies
266
Avg premium
$1,198
NFIP policy

Risk bucket is normalized as historical claims per 1,000 housing units, not raw count, so dense urban counties aren't penalized for size alone. Buckets: low (<1), moderate (1–10), high (10–50), very-high (50+). Monterey County: 1.08 per 1,000. Historical claims do not capture uninsured properties. For parcel-level flood-zone designations, use FEMA's Map Service Center.

Full flood-risk breakdown →

Home price trend in California

FHFA House Price Index, quarterly.

vs. California average
Home value above state average.
Property tax above state average.
Homeownership
52.2%

Share of units owner-occupied (Census ACS).

Median household income
$91,043

Census ACS 5-year estimate.

Housing cost burden in Monterey County

Share of households paying 30% or more of income on housing (HUD CHAS 2017-2021). HUD does not publish county-level CHAS rollups through the public API, so California state data is shown for local context alongside the US average.

California: 30%+ cost burdened
68.8%
7,335,245 households surveyed
California: severely burdened (50%+)
33.3%
Paying at least half of income on housing.
Owner vs renter burden
Owner 30%+: 49.9%
Renter 30%+: 48.4%
Renters typically carry a heavier cost burden than owners with a fixed-rate mortgage.

Affordability by income bracket

Monthly 30% housing budget at each income vs the median owner cost in Monterey County. Bars above the dashed line can absorb this county's typical ownership cost.

HUD area median income (4-person household) for California: $118,100. Income limits define 80% AMI at $94,500 and 50% AMI at $59,050.

Frequently asked questions

How much does it cost to own a home in Monterey County?

Based on Census ACS, typical total annual cost in Monterey County is around $16,345 ($1,362 per month), covering property tax, insurance estimate, utilities, and 1% maintenance. Your actual cost varies by home age, size, and location within the county.

What is the property tax in Monterey County?

Median annual property tax is $4,494 on the county's median home value of $683,700 (Census ACS).

Is it cheaper to rent or buy in Monterey County?

On a monthly cash-flow basis, the typical owner-cost-with-mortgage in Monterey County runs about 42% above the county's median rent. That comparison doesn't account for the opportunity cost on your down payment, maintenance reserve, transaction costs, or how long you plan to stay — use the calculator below to model your specific break-even year against your time horizon.

What is the flood risk in Monterey County?

moderate historical flood-risk signal from FEMA NFIP: 142 claims (1.08 per 1,000 housing units), average claim $50,386. Bucket reflects claim density, not absolute claim count.

Data sources

Disclaimer. HomeRule is not a real estate agent, lender, appraiser, or financial advisor. This content is for educational and informational purposes only. Actual costs vary significantly by property, location, and individual circumstances. Consult qualified professionals for personalized advice.