RANK #813 / 996 · POP 437,609 · CA
PROJECTED GROWTH: -0.7%
Carmel-by-the-Sea, a notable town within Monterey County, offers a distinctive charm with its fairytale-like cottages and strict building codes that maintain its village aesthetic. Located on California's central coast, Monterey County is about a two-hour drive south of San Francisco and Silicon Valley. The community offers a relaxed atmosphere with a mild climate, making outdoor recreation a year-round possibility. Residents and visitors enjoy diverse natural scenery, from the rugged Big Sur coastline to the fertile Salinas Valley. Opportunities for outdoor activities include hiking in Pinnacles National Park or Fort Ord National Monument, biking along the Monterey Bay Coastal Recreation Trail, kayaking in the Monterey Bay National Marine Sanctuary, and golfing on courses like Pebble Beach.
Life in Monterey County blends coastal living with agricultural roots. While some residents commute to the Bay Area, particularly from towns like Salinas and Prunedale, many find work within the county. The economy is largely driven by its productive agricultural sector in the Salinas Valley and a robust tourism industry along the coast. Recent economic developments also show growth in specialized business services and technology, including an emerging robotics and drone sector, alongside continued investment in food and beverage manufacturing, particularly winemaking. The county also has a strong concentration of higher education and research institutions.
Overvalued relative to economy
Below national median
Prices declining
Prices detached from rents
Housing looks overvalued at 10.1x — home prices are high relative to local economic output. Climate and geography support a structural premium. The typical U.S. county is 4–6x.
Source: Redfin · Census BPS — Browse sales on Redfin →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Holman Wind Project
|
$1,525M | Planned |
|
Moss Landing Energy Storage Facility (Phase III Expansion)
Vistra Corp.
|
$350M | Operating |
|
California Flats Solar Project
Capital Dynamics (originally First Solar)
|
$280M | Operating |
|
California Flats Battery Energy Storage System (BESS)
Apple Inc. / Tesla
|
$240M | Operating |
|
PG&E East Campus Gas Line Replacement Project
Pacific Gas and Electric Company (PG&E)
|
$50M | Under Construction |
|
Highway 156 & Castroville Blvd. Interchange Project
California Department of Transportation (Caltrans)
|
$50M | Proposed |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
Monterey County has a Boom Town Index score of 18/100, ranking #813 among 996 U.S. counties. With job growth at +1.7% and a median household income of $91,043, it faces some economic headwinds compared to faster-growing counties.
The median home value in Monterey County is $683,700 with median rent at $1,873/month. The income-to-home-value ratio is 0.1332, which is less affordable than the national average.
Population growth: -0.3% year-over-year. Job growth: +1.7%. Home values changed -2.1% in the past 12 months.
Yes — 3.24% of Monterey County's population moved from another state, which is above the national average and indicates strong in-migration.