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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Monterey Park, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Monterey Park, CA Housing Market Trends

With a population of 58,554, 20,416 total housing units (homes and apartments), and a median house value of $998,559, real estate costs in Monterey Park are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

Single-family detached homes are the single most common housing type in Monterey Park, accounting for 57.09% of the city's housing units. Other types of housing that are prevalent in Monterey Park include large apartment complexes or high rise apartments ( 23.47%), row houses and other attached homes ( 10.24%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.03%).

The most prevalent building size and type in Monterey Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.20% owning and 49.80% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Monterey Park's housing was primarily built during this period, from the '40s through the '60s. A full 56.88% of the city's housing hails from this era. Other housing ages represented in Monterey Park include homes built between 1970-1999 ( 30.22%) and housing constructed between 2000 and later ( 7.26%). There's also some housing in Monterey Park built before 1939 ( 5.64%).

Monterey Park Home Appreciation Rates

Real estate appreciation rates in Monterey Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.00% during the period.

NeighborhoodScout's data show that during the latest twelve months, Monterey Park's appreciation rate, at 7.42%, has been at or slightly above the national average. In the latest quarter, Monterey Park's appreciation rate has been 2.09%, which annualizes to a rate of 8.62%.

Relative to California, our data show that Monterey Park's latest annual appreciation rate is higher than 60% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Monterey Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Monterey Park - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Monterey Park real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$998,559

Monterey Park, CA Home Prices
> $1,284,000
$963,001 - $1,284,000
$642,001 - $963,000
$514,001 - $642,000
$385,001 - $514,000
$257,001 - $385,000
$128,001 - $257,000
$64,001 - $128,000
$0 - $64,000
14.7%
14.7%
31.9%
31.9%
37.5%
37.5%
8.3%
8.3%
3.4%
3.4%
1.0%
1.0%
1.0%
1.0%
1.0%
1.0%
1.3%
1.3%
0% 100.0%
% of Homes
High

for California

Very High

for nation

Number of Homes And Apartments:

20,416

Monterey Park Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,031 / per month

Homeownership Rate

Owners
Renters
50.2%
50.2%
49.8%
49.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.1%
6.1%
93.9%
93.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.3%
7.3%
30.2%
30.2%
56.9%
56.9%
5.6%
5.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
57.1%
57.1%
10.2%
10.2%
9.0%
9.0%
23.5%
23.5%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.4%
2.4%
11.7%
11.7%
28.3%
28.3%
39.7%
39.7%
15.1%
15.1%
2.9%
2.9%
0% 100.0%
% of Homes