US5.com
  1. Home
  2. States
  3. California
  4. ZIP 93940
  5. Housing & Real Estate
Monterey city, CA

ZIP 93940 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 93940

Median Home Value
$1,039,700
Median Rent
$2,190
Affordability Snapshot
$286,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$6,679/mo PITI).

24%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

9.4x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

39.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 93940 in Monterey city, CA, a household would need roughly $286,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $6,679. That is about 158% above the local median household income ($110,669), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
43.0%-34% vs US avg
x
Vacancy Rate
9.7%-6% vs US avg
x
Broadband Access
94.8%+9% vs US avg
x
4+ Bedrooms
2.9%-81% vs US avg
x
Built Pre-1939
5.9%-54% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
22.5%-55% vs US avg
x
Mortgage-Free
35.3%-8% vs US avg
x
$1,039,700
Home Value
$2,190
Rent
1970
Year Built
2016
Moved In

Residents have lived here since ~2016 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached49.9%
  • 1-unit attached6.7%
  • 2-9 units25.4%
  • 10+ units18.1%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$1,039,700
Median rent$2,190
Owner-occupied43.0%
Vacant9.7%
Price-to-income9.4x
Est. income to buy$286,000