Real Estate Investing in Monterey, California (93940)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 93940 (Monterey, CA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Elevated vacancy: 10.2% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 34.7 — hard to cash-flow at these prices.
What’s happening in Monterey, CA (93940)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 93940 Monterey
On balance, ZIP 93940 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $1.1M median. It rewards specialists, not generalists.
The investment case in 93940 is resilient only for operators who understand what they are buying. A $1.1M median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Looking more closely, 93940 offers a low basis, the region around Monterey has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 93940 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 93940 is an operator game, not a passive one. On balance, entry prices of $1.1M are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Monterey:
Property Strategy for 93940
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $557,885 | $2,670 | 3.4% | +4.0% | $557,885 |
| 2BR | $872,409 | $3,210 | 2.6% | +5.5% | $436,204 |
| 3BR | $1,208,596 | $4,320 | 2.6% | +6.3% | $402,865 |
| 4BR | $1,626,922 | $4,710 | 2.1% | +6.9% | $406,731 |
| 5BR | $2,175,174 | — | — | +7.2% | $435,035 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 93940 Compare?
| Metric | 93940 | Monterey | Salinas, CA | California |
|---|---|---|---|---|
| Home Value | $1,144,695 | $381,565 | N/A | $761,003 |
| 5-Year CAGR | 2.7% | 2.7% | N/A | 5.7% |
| Avg Rent | $2,748 | $2,748 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 93940 (Monterey, CA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 93940 (Monterey, CA)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Monterey County
Manage rentals here? List your business →36 North Property Management is a leader in Monterey County, providing property management services. summary from their website
A. G. Davi Property Management is a full-service property management company in Monterey, California, offering commercial, long-term residential, and vacation rental management services. summary from their website
Creative Property Management is a premier property manager on the Monterey Peninsula, offering residential and commercial income property management services with over 40 years of experience. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,144,695 |
| Monthly Rent | $2,748 |
| Price-to-Rent | 34.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 4.6% |
📈 Home Appreciation
| 1-Year | +1.2% ▲ |
| 3-Year CAGR | +0.5% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 Rent Trends
| 1-Year | -1.7% ▼ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +4.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 93940
Population: 30,951
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 93940
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,495 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors consider Monterey, CA?
Monterey, CA rates 2.0/5 for investability. With median values at $1.1M and rents near $2,748/mo, the market offers reasonable fundamentals for rental investors.
What is the typical renter like in Monterey, CA?
Working renters make up the core of the Monterey, CA tenant base. The pool is reasonable for investors targeting long-term holds.
What do rentals go for in Monterey, CA?
The typical rental in Monterey, CA commands about $2,748/mo monthly. That rent profile stable cash flow against the $1.1M purchase basis.
How should investors approach Monterey, CA?
Monterey, CA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($1.1M prices, $2,748/mo rents) make it a reasonable choice.
Is Monterey, CA suited for a house hack?
The house hack math a tougher in Monterey, CA. Owner-occupant buyers benefit from the $2,748/mo rents and $1.1M home values.
You know 93940 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 93940 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 93940 ranks in Salinas, CA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 93940 (Monterey)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 93940 (Monterey, CA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.