Cheap Apartments for Rent in Monterey, CA from $1,100 (79 Rentals)

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Search the lowest-cost Apartments available for rent right now in Monterey.

property at 541 Wave St

$1,795

1 Bedroom Rentals

Available Now

541 Wave St

MontereyCA93940
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344 Dela Vina Ave, Unit B
$1,950
Total Monthly Price

Total Monthly Price

Base Rent
$1,950
Total Monthly Price
$1,950
Studio Apartment Available Aug 15

344 Dela Vina Ave, Unit B

344 Dela Vina AveMonterey, CA 93940
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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Monterey Townhouse
$3,032 - $3,270
Total Monthly Price

Total Monthly Price

Base Rent
$3,032 - $3,270
Total Monthly Price
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Studio to 3 Bedroom Apartments Available Now

Monterey Townhouse

825 Casanova AveMonterey, CA 93940
Corporate Housing
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666 Casanova Ave
1 Bedroom Apartments

666 Casanova Ave

666 Casanova AveMonterey, CA 93940
  • Utilities Included
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Presidio Apartments
1 to 2 Bedroom Apartments

Presidio Apartments

1100 McClellan AveMonterey, CA 93940
  • Utilities Included
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Sloat Apartments
1 to 2 Bedroom Apartments

Sloat Apartments

650 Sloat AveMonterey, CA 93940
  • Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Bldg A
1 to 2 Bedroom Apartments

Bldg A

230 Lighthouse AveMonterey, CA 93940
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832haw
Studio to 1 Bedroom Apartments

832haw

832-843 Hawthorne StMonterey, CA 93940
  • Utilities Included
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696casa
Studio to 2 Bedroom Apartments

696casa

696 Casanova AveMonterey, CA 93940
  • Utilities Included
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1972 Irving Ave
1 Bedroom Apartments

1972 Irving Ave

1972 Irving AveMonterey, CA 93940
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501-555 Ocean Ave
1 Bedroom Apartments

501-555 Ocean Ave

501-555 Ocean AveMonterey, CA 93940
  • Utilities Included
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787 Laine St
1 Bedroom Apartments

787 Laine St

787 Laine StMonterey, CA 93940
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422 Alvarado St
1 to 2 Bedroom Apartments

422 Alvarado St

422 Alvarado StMonterey, CA 93940
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RM480P
1 Bedroom Apartments

RM480P

480 Prescott AveMonterey, CA 93940

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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237 LIGHTHOUSE
1 Bedroom Apartments

237 LIGHTHOUSE

237 LIGHTHOUSEMonterey, CA 93940
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456dela
1 to 2 Bedroom Apartments

456dela

456 Dela Vina AveMonterey, CA 93940
  • Utilities Included
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Mar Vista Drive
Studio to 2 Bedroom Apartments

Mar Vista Drive

66-98 Mar Vista DrMonterey, CA 93940
  • Utilities Included
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724 Spencer St
1 Bedroom Apartments

724 Spencer St

724 Spencer StMonterey, CA 93940
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775 Spencer St
1 to 2 Bedroom Apartments

775 Spencer St

775 Spencer StMonterey, CA 93940

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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RM700L
2 Bedroom Apartments

RM700L

700 Laine StMonterey, CA 93940
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DayStar Apartments
2 Bedroom Apartments

DayStar Apartments

412 Dela Vina AveMonterey, CA 93940
  • Utilities Included

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Monterey, CA Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Monterey, CA

Pricing Updated: 07/28/2026

Current apartment rentals in the Monterey, CA area range in price from $1,600 to $8,500 with an overall median price of $4,911. The three Monterey neighborhoods with the lowest median rent pricing are Old Monterey at $3,150, Old Town at $3,150, and Casanova Oak Knoll at $1,795. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Monterey Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Old Monterey$3,500$3,1502
Old Town$3,500$3,1503
Casanova Oak Knoll$4,295$1,79511
Del Monte Grove Laguna Grande$4,295$1,79511
Villa Del Monte$4,295$1,79514
New Monterey$5,275$3,1508
Old Monterey Business District$5,500$2,1006
Outer Monterey$5,500$1,60050
Skyline Forest$5,750$2,10016
Monterey Vista$7,200$2,1003

Cheapest Available Monterey Apartments for Rent

 

The cheapest available apartment rental in Monterey, CA is a 1 Bed unit found at 832haw in the Outer Monterey neighborhood priced from $1,875. 787 Laine St in the Skyline Forest neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,045. Here is today’s list of the most affordable Monterey apartments for rent:

Apartment ListingModel NameBed/BathPriced From
832haw1BR/1.0BA1BR,1BA$1,875
787 Laine St1 Beds, 1 Baths1BR,1BA$2,045
The IndependentStudioStudio,1BA$2,300
501 Lighthouse Avenue - Monterey1 Bedroom / 1 Bathroom1BR,1BA$2,350
Pacific Grove Senior Living1 Bed 1 Bath - Peninsula1BR,1BA$2,595
Monterey Pines ApartmentsOne Bedroom One Bath1BR,1BA$2,600
Surfside ApartmentsOne Bedroom1BR,1BA$2,650
RM700L2BR/1.0BA2BR,1BA$2,700
Monterey Townhouse2x1 Townhouse Reno2BR,1BA$3,032

Best Value Apartments for Rent in Monterey, CA

As of July 28, 2026 the best value apartment in the Monterey area is the $3.57 price per square foot C2 Model at Seagrove in the in the Villa Del Monte neighborhood starting from $4,620. The second greatest value Monterey apartment is the Residence 1 Luxury Model at Seventeen Mile Drive Village Apartment Homes starting at $4,476 with a $3.89 price per square foot in the Outer Monterey neighborhood. Here is today’s list of the best values for Monterey apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
SeagroveC23BR,2BA$3.57
Seventeen Mile Drive Village Apartment HomesResidence 1 Luxury2BR,2BA$3.89
Monterey Townhouse2x1 Townhouse Reno2BR,1BA$3.26
Footprints on the BaySeabreeze2BR,1BA$4.04
Monterey Pines ApartmentsTwo Bedroom One Bath2BR,1BA$3.93
828 Sinex Ave, Unit 828 Sinex Ave828 Sinex Ave1BR,1BA$2.91
845L-T/L-DP2BR/1.0BA2BR,1BA$4.02
RM700L2BR/1.0BA2BR,1BA$3.60
501 Lighthouse Avenue - Monterey1 Bedroom / 1 Bathroom1BR,1BA$3.26
832haw1BR/1.0BA1BR,1BA$3.75

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Monterey Overview

Located along the southern tier of the gorgeous Monterey Bay, this prime slice of central California real estate is an excellent option for those eager to discover all the west coast has to offer. A notable artist's community that appeals to a wide range of lifestyles, Monterey rentals have much to offer and are always in demand.

Why live in Monterey, CA?

Home to a wide assortment of cultural hotspots, sweeping oceanic beauty and plenty of charming west coast ambiance, apartments for rent in Monterey have broad appeal with good reason. Fishing is still almost omnipresent around the waterfront bay, and lively bands and quaint boutiques co-exist along the downtown scene. Add to that an enviable climate and some truly welcoming locals, and you have a California zip code well worth bragging over.

Best Local Schools in
Monterey, CA

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Monterey, CA Rentals by Map

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See the most popular apartments and homes in Monterey, CA

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Frequently Asked Questions about Cheap Monterey Apartments

How much is rent for a Cheap One Bedroom Monterey Apartment?

The lowest price for a Cheap One Bedroom Monterey Apartment is $1,875 at 832haw.

What is the lowest price for a Cheap Two Bedroom Monterey Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Monterey is starting from $2,700 at RM700L.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.