950 Portola Dr
Del Rey OaksCA93940
Cheap Homes for Rent in Monterey, CA from $1,500 (10 Rentals)
Search the lowest-cost Homes available for rent right now in Monterey.
1291 10th St, Unit B
1291 10th St
MontereyCA93940
1021 Funston Ave
Pacific GroveCA93950
2951 Club Rd
Pebble BeachCA93953
2950 Club Rd
Pebble BeachCA93953
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.
820 Casanova Ave
MontereyCA93940
500 Glenwood Cir, Unit 113
500 Glenwood Cir
MontereyCA93940
774 Archer St
MontereyCA93940
605 2nd St
Pacific GroveCA93950
1812 Luzern St
SeasideCA93955
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
How much does it cost to rent a home in Monterey?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Monterey 2 Bedroom Homes for Rent | $3,495 | $2,125 | $4,500 |
| Monterey 3 Bedroom Homes for Rent | $6,001 | $3,900 | $9,000 |
| Monterey 4 Bedroom Homes for Rent | $5,783 | $4,850 | $6,500 |
Browse Top Homes for Rent in Monterey
Explore Monterey
Monterey, CA Local Guide
- Monterey Neighborhoods
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Cheapest Neighborhoods for Apartments in Monterey, CA
Pricing Updated: 05/23/2026Current apartment rentals in the Monterey, CA area range in price from $1,375 to $8,787 with an overall median price of $3,444. The three Monterey neighborhoods with the lowest median rent pricing are New Monterey at $1,795, Outer Monterey at $1,375, and Skyline Forest at $1,795. Here is today’s list of the top 9 neighborhoods with the lowest median pricing for Monterey Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| New Monterey | $3,100 | $1,795 | 15 |
| Outer Monterey | $3,206 | $1,375 | 51 |
| Skyline Forest | $3,300 | $1,795 | 16 |
| Casanova Oak Knoll | $3,375 | $1,375 | 26 |
| Del Monte Grove Laguna Grande | $3,375 | $1,375 | 26 |
| Villa Del Monte | $3,452 | $1,375 | 25 |
| Old Monterey Business District | $3,455 | $2,000 | 15 |
| Monterey Vista | $3,520 | $2,274 | 3 |
| Old Monterey | $4,214 | $2,650 | 1 |
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. 696casa in the Villa Del Monte neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $2,150. Here is today’s list of the most affordable Monterey apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 832haw | 1BR/1.0BA | 1BR,1BA | $1,875 |
| 696casa | 1BR/1.0BA | 1BR,1BA | $2,150 |
| The Independent | Studio | Studio,1BA | $2,300 |
Best Value Apartments for Rent in Monterey, CA
As of May 24, 2026 the best value apartment in the Monterey area is the $3.85 price per square foot Residence 1 Luxury Model at Seventeen Mile Drive Village Apartment Homes in the in the Outer Monterey neighborhood starting from $4,430. The second greatest value Monterey apartment is the B1.1 Model at Seagrove starting at $4,000 with a $3.71 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Seventeen Mile Drive Village Apartment Homes | Residence 1 Luxury | 2BR,2BA | $3.85 |
| Seagrove | B1.1 | 2BR,2BA | $3.71 |
| 131 Lighthouse Avenue - Monterey | 131L09 | 2BR,1BA | $2.76 |
| Monterey Townhouse | 2x1 Townhouse Reno | 2BR,1BA | $3.43 |
| Monterey Pines Apartments | Two Bedroom One Bath | 2BR,1BA | $3.82 |
| The Independent | One Bedroom | 1BR,1BA | $3.71 |
| Pacific Vista | 2X1 Townhouse Reno | 2BR,1BA | $3.54 |
| The Crest at Pacific Grove | Ocean Breeze | 2BR,1BA | $3.56 |
| 696casa | 1BR/1.0BA | 1BR,1BA | $3.22 |
| 832haw | 1BR/1.0BA | 1BR,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.
Read Article
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.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
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Best Local Schools in Monterey, CA
La Mesa Elementary
Monterey Peninsula Unified School District
Public School - Grades K-8 (689)
7 out of 10
Monterey High
Monterey Peninsula Unified School District
Public School - Grades 9-12 (1401)
8 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Monterey, CA Rentals by Map
See the most popular apartments and homes in Monterey, CA
Frequently Asked Questions about Monterey
What type of rentals are currently available in Monterey?
There are currently 408 Apartments for Rent in Monterey, CA with pricing that ranges from $1,375 to $8,787. There are also 56 Single Family Homes for rent, Condos, and Townhome rentals currently available in Monterey ranging from $1,500 to $9,000.
What is the current price range for Rental Homes in Monterey?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Monterey ranges from $1,500 to $9,000 with an average monthly rent of $4,375.
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.