Pacific Grove, CA

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

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

Listings

148 / 316

Reliable / Active

Cap Rate

5%

Middle-Earners Gross Yield

Revenue

$75,222

Middle-Earners Revenue

Occupancy

81%

Middle-Earners Occupancy

Home Value

$1,407,854

Median Home Sale Price

Top Earners

$197,658

Top-Earners Revenue

Pacific Grove

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Pacific Grove.

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C

Challenging to Investors

Pacific Grove Regulations

STRs are permitted but only in Coastal/Commercial zones with a 250-license cap, 55-foot exclusion zones from existing STRs, and 15% block-density limits, creating scarce eligible parcels; permitting entails inspections, multiple fees, and ongoing obligations (12% TOT, guest logs, 30-minute complaint response, renewals), elevating compliance burden and investor risk.

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About Pacific Grove

Pacific Grove is a small coastal city on the Monterey Peninsula in Monterey County, California, with a year-round population of roughly 15,000 to 16,000 residents. Often called "Butterfly Town, USA" for the monarch butterflies that overwinter in its eucalyptus groves, the town is celebrated for its preserved Victorian-era architecture, its quiet residential streets, and its dramatic oceanfront setting. It sits just west of Monterey and functions as a gentle, residential gateway to some of the most scenic coastline in California, including Big Sur to the south and the famed 17-Mile Drive to the north. The city is approximately 120 miles south of San Francisco and about 330 miles north of Los Angeles, with typical drive times of just over two hours from the Bay Area depending on traffic.

One of the most distinctive local landmarks is the Point Pinos Lighthouse, located within the city limits on the westernmost point of the Monterey Peninsula. Operating continuously since 1855, it is the oldest working lighthouse on the Pacific coast and is open to visitors for self-guided tours, offering a glimpse into 19th-century maritime history along with sweeping ocean views.

Just a few minutes from the city center, Asilomar State Beach stretches along the Pacific at the northwestern edge of Pacific Grove. The combination of dunes, tide pools, and coastal trails makes it a popular spot for walking, beachcombing, and watching sunsets, while the adjacent Asilomar Conference Grounds, designed in part by architect Julia Morgan, adds a layer of architectural and historical interest to the area.

About a mile east, the Monterey Bay Aquarium sits on Cannery Row, and its proximity is a major draw for visitors to Pacific Grove. While the aquarium itself is in neighboring Monterey, it is the single most visited attraction on the peninsula, giving short-term rental guests in Pacific Grove convenient access to one of the most respected marine institutions in the country, along with the restaurants and shops of Cannery Row.

To the north, the gated 17-Mile Drive winds through Pebble Beach and is known for its rugged coastline, cypress trees, and landmarks such as the Lone Cypress. Although a vehicle fee applies, the drive is a signature experience of the Monterey Peninsula, and the famous golf courses and resort amenities of Pebble Beach are within a few minutes of Pacific Grove.

For travelers looking to venture further afield, the dramatic cliffs and redwood forests of Big Sur begin roughly 30 to 40 miles south along Highway 1, making Pacific Grove a natural home base for day trips along one of the most celebrated coastal drives in the world. Its compact, walkable scale, ocean views, and proximity to the peninsula's marquee attractions give Pacific Grove a quiet appeal that pairs well with the broader appeal of the Monterey Bay region, making it a particularly attractive setting for short-term rentals that cater to visitors seeking both relaxation and easy access to a remarkable stretch of the California coast.

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