Monterey Park, CA

Very High · 174

California · Population 59,639 · Updated March 2026

$1,845
Median Rent / Month
$77,605
Median Income
$818,300
Median Home Value
$1,782
Owner Costs / Month

Affordability

How far your income goes in Monterey Park

28.5%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in California

State-level tax rates that affect your costs

13.3%
Income Tax (Top Rate)
7.25%
Sales Tax
0.71%
Property Tax Rate

Estimated Annual Costs

$22,140
Annual Rent
$10,321
State Income Tax
$5,810
Property Tax (est.)

Cost of Living Overview

Monterey Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 174 (where 100 equals the national median), Monterey Park residents can expect to pay median rent of $1,845/month while earning a median household income of $77,605/year.

The median home value in Monterey Park, CA is $818,300, with typical monthly owner costs around $1,782 including mortgage, insurance, and taxes. With a rent-to-income ratio of 28.5%, Monterey Park falls within the generally affordable range, though it's approaching the 30% burden threshold.

California's top income tax rate of 13.3% is among the highest in the nation, adding to the overall cost burden. Combined with a 7.25% sales tax rate and 0.71% effective property tax rate, the overall tax environment is a factor in the total cost of living in Monterey Park.

Frequently Asked Questions

Common questions about living costs in Monterey Park

What is the cost of living in Monterey Park, CA?
The cost of living index in Monterey Park, CA is 174 (US average = 100). Median monthly rent is $1,845, median household income is $77,605/year, and the median home value is $818,300.
Is Monterey Park, CA affordable?
No, Monterey Park is more expensive than the national average with a cost index of 174. The rent-to-income ratio is 28.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Monterey Park, CA?
The median gross rent in Monterey Park, CA is $1,845 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,140.
What is the median household income in Monterey Park?
The median household income in Monterey Park, CA is $77,605 per year. This compares to the national median of approximately $80,000.
What are the taxes like in California?
California has a top income tax rate of 13.3%, a sales tax of 7.25%, and an effective property tax rate of 0.71%.