Low Income Apartments and Affordable Housing For Rent in Monterey, CA

Discover affordable housing in Monterey where there are 6+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Van Buren Senior Housing Apartments

669 Van Buren Street, Monterey, California 93940

Dela Vina Apartments

345 Dela Vina Ave, Monterey, California 93940

El Estero Senior Apartments

151 Park Ave, Monterey, California 93940

Portola Vista

20 Del Monte Ave, Monterey, California 93940

Scattered Sites

531 Watson St, Monterey, California 93940

Casa De Los Robles

504 W Franklin St, Monterey, California 93940

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Monterey, California
$54.53/hour
$38.53 (+241%) more than California minimum wage and $47.28 (+652%) more than the Federal minimum wage.
Learn More About Monterey, California Affordable Housing ↓

What HUD offices serve Monterey, California?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Monterey, California.

Go to the California Public Housing and Low-Income Apartments Waiting Lists page for openings near Monterey.

How many renters live in Monterey, California?

The City of Monterey has 30,007 people living in 12,586 households.

There are 17,742 renters living in 8,105 renter households in this City. Renters make up 59.13 percent of the population living in Monterey.

What is the rental market like in Monterey, California?

There are an estimated 13,988 housing units in the Monterey area. Of these, 8,529 units are rental homes, making up 61 percent of the housing market. For every renter household in Monterey, California, there are 1 rental units.

What is the vacancy rate for rentals in Monterey?

The rental vacancy rate in Monterey is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Monterey for each bedroom size?

Occupied Rental Units by Size in Monterey
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
983 2,336 3,092 1,338 247
Occupied Rental Units by Size in Monterey

A large number of apartments in Monterey have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Monterey are overburdened by housing costs?

Among renter households in this market, 53 percent have housing cost burden. Further, 25 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Monterey

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $2,340 to $4,400. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $2,340
One BR $2,367
Two BR $2,879
Three BR $3,990
Four BR $4,400
2024 Fair Market Rents in Monterey, California

How many units are rented at Fair Market Rent (FMR) in Monterey?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 298 30 percent
One BR 477 20 percent
Two BR 212 7 percent
Rental Units Below FMR in Monterey, California

How many affordable rental units are in Monterey?

There are a variety of federal affordable housing programs serving households in Monterey, California including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 24
Section 8 Project-Based Rental Assistance 104
Section 811 Supportive Housing for Persons with Disabilities 14
Tracked Units by Federal Program in Monterey, California

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Monterey, California

Monterey features 117 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Monterey, California

There are 23 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monterey.

Housing Choice Vouchers in Monterey, California

On average, Section 8 Housing Choice vouchers pay Monterey landlords $1,000 per month towards rent. The average voucher holder contributes $400 towards rent in Monterey.

The maximum amount a voucher would pay on behalf of a low-income tenant in Monterey, California for a two-bedroom apartment is between $2,591 and $3,167.

Sourced from federal housing data and AffordableHousingOnline.com research.