Cheap Apartments for Rent in Monterey, CA from $700 (25 Rentals)

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

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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666 Casanova Ave
1 Bedroom Apartments

666 Casanova Ave

666 Casanova AveMonterey, CA 93940
  • Utilities Included
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Sloat Apartments
1 Bedroom Apartments

Sloat Apartments

650 Sloat AveMonterey, CA 93940
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Bldg A
1 to 2 Bedroom Apartments

Bldg A

230 Lighthouse AveMonterey, CA 93940
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832haw
1 Bedroom Apartments

832haw

832-843 Hawthorne StMonterey, CA 93940
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Presidio Apartments
2 Bedroom Apartments

Presidio Apartments

1100 McClellan 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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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City Center Plaza
1 to 2 Bedroom Apartments

City Center Plaza

1530-1534 Fremont BlvdSeaside, CA 93955
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Vista Point Apartments
Studio to 2 Bedroom Apartments

Vista Point Apartments

650 Jewell AvePacific Grove, CA 93950
Senior Living
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Monarch Apartments
1 to 2 Bedroom Apartments

Monarch Apartments

2 Moreland AvePacific Grove, CA 93950

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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740 Crocker Ave
Studio Apartments

740 Crocker Ave

740 Crocker AvePacific Grove, CA 93950
  • Utilities Included

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: 07/02/2025

Current apartment rentals in the Monterey, CA area range in price from $1,750 to $9,500 with an overall median price of $5,043. The three Monterey neighborhoods with the lowest median rent pricing are Casanova Oak Knoll at $1,975, Del Monte Grove Laguna Grande at $1,975, and Villa Del Monte at $1,975. Here is today’s list of the top 9 neighborhoods with the lowest median pricing for Monterey Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Casanova Oak Knoll$3,900$1,9758
Del Monte Grove Laguna Grande$3,900$1,9758
Villa Del Monte$3,900$1,9757
New Monterey$4,895$2,2756
Old Monterey Business District$5,400$2,2757
Skyline Forest$5,400$2,27515
Monterey Vista$5,497$3,8003
Old Town$6,000$2,2753
Outer Monterey$6,500$1,75042

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. Monterey Pines Apartments in the Villa Del Monte neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,400. Here is today’s list of the most affordable Monterey apartments for rent:

Apartment ListingModel NameBed/BathPriced From
832haw1BR/1.0BA1BR,1BA$1,875
Monterey Pines ApartmentsOne Bedroom One Bath1BR,1BA$2,400
Pacific Grove Senior LivingStudio - Lake ParkStudio,1BA$2,400
Monterey TownhouseStudio RenoStudio,1BA$2,448
SeagroveA21BR,1BA$2,850

Best Value Apartments for Rent in Monterey, CA

As of July 03, 2025 the best value apartment in the Monterey area is the $2.73 price per square foot Two Bedroom Model at The Independent in the in the Villa Del Monte neighborhood starting from $4,100. The second greatest value Monterey apartment is the 2 Bedroom / 1.5 Bath Model at 451 Dela Vina Ave #207 - Monterey starting at $3,100 with a $3.02 price per square foot in the Villa Del Monte 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.
The IndependentTwo Bedroom2BR,2BA$2.73
451 Dela Vina Ave #207 - Monterey2 Bedroom / 1.5 Bath2BR,1.5BA$3.02
675 Jefferson Street - Monterey2 Bed / 1.5 Bath2BR,1.5BA$2.86
302 Ocean Ave, Unit 2302 Ocean Ave2BR,1BA$2.50
255 Larkin St, Unit No. 3255 Larkin St2BR,1BA$3.00
Surfside ApartmentsPlan B2BR,1.5BA$3.11
464 Ramona Avenue - Monterey2 Bedroom / 1 Bathroom2BR,1BA$3.07
Monterey Pines ApartmentsTwo Bedroom One Bath2BR,1BA$3.82
The Shangri La Apartments2 Bedroom Large Renovated with Balcony2BR,1BA$3.95
832haw1BR/1.0BA1BR,1BA$3.75

Quick Rent Budget Calculator

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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.

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

Explore Monterey, CA Rentals by Map

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Getting Around Monterey, CA

Walk Score®

73 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

60 / 100

Bikeable

Some bike infrastructure

Transit Score®

35 / 100

Some Transit

A few nearby public transportation options

Frequently Asked Questions about Cheap Monterey Apartments

What is the Cheapest Studio apartment in Monterey?

Currently the most affordable Cheap Studio Apartment in Monterey is at Pacific Grove Senior Living listed at $2,400.

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 $2,900 at The Shangri La Apartments.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.