Monterey, CA

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Monterey short-term rental market based on reliable data.

Listings

1097 / 2415

Reliable / Active

Cap Rate

6%

Middle-Earners Gross Yield

Revenue

$67,470

Middle-Earners Revenue

Occupancy

68%

Middle-Earners Occupancy

Home Value

$1,166,482

Median Home Sale Price

Top Earners

$194,147

Top-Earners Revenue

Monterey

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Monterey.

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C

Challenging to Investors

Monterey Regulations

Monterey County bans unhosted STRs in Big Sur and Carmel Highlands and caps unhosted STRs to 4% of single‑family housing in other unincorporated coastal areas, while imposing new permits and strong Coastal Commission oversight—making compliance costly and uncertain for investors.

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About Monterey

Monterey sits on California's central coast as the seat of Monterey County, with a population of roughly 28,000 residents. The city has long drawn visitors with its dramatic Pacific shoreline, its working waterfront, and one of the most celebrated aquariums in the country. It serves as a gateway to the 17-Mile Drive, the golf links of Pebble Beach, and the rugged coastline of Big Sur. San Francisco lies about 120 miles to the north, a drive of roughly two to two-and-a-half hours depending on traffic, while the greater Monterey Bay area, including Pacific Grove and Seaside, adds another 80,000 or so residents and a more suburban feel to the region.

On Cannery Row itself, the Monterey Bay Aquarium anchors the waterfront and draws large crowds year-round with its kelp forest exhibits, sea otters, and a towering open-ocean tank. It sits within walking distance of most downtown hotels, making it a focal point for almost any stay on the bay.

Just steps away, Cannery Row and the adjacent Old Fisherman's Wharf retain the feel of a working waterfront, with seafood restaurants, souvenir shops, and whale-watching boats departing daily. The row is where John Steinbeck set much of his novel of the same name, and the area still feels tied to that literary and cannery-era past, even as the warehouses have been converted into boutiques and tasting rooms.

A few minutes southwest of downtown, the gated 17-Mile Drive winds through Pebble Beach, passing Monterey cypress groves, rocky headlands, and several famous golf courses including Pebble Beach Golf Links. The drive offers a long series of pullouts with views of the Pacific, the Lone Cypress, and otter-filled coves, and is one of the most photographed stretches of coastline in the state.

Just south of the city, Point Lobos State Natural Reserve protects one of the most biologically diverse marine areas on the West Coast, with short hiking trails and frequent sightings of sea otters, harbor seals, and migrating gray whales. Beyond Point Lobos, Monterey is the natural launching point for the Big Sur coastline, where Highway 1 climbs past Bixby Bridge, McWay Falls, and redwood groves toward Hearst Castle roughly two to three hours down the road.

For short-term rental owners, Monterey offers an unusually strong combination: a compact, walkable waterfront, a year-round mild climate, and proximity to several marquee destinations that fill calendars even in shoulder seasons. Visitors come for the aquarium and Cannery Row, but they also base here for weddings and tournaments at Pebble Beach, drives along Big Sur, and family trips to Point Lobos, giving the market a steady mix of leisure travelers, regional tourists, and event-goers throughout the year.

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