Affordability evidence
Monterey Park, CA home values, income, and owner costs
A borrower-focused reading of the latest ACS value, income, and owner-cost evidence for Monterey Park, CA.
Source: U.S. Census Bureau
Last updated . Article facts reviewed through this date. Time-sensitive figures show their own as-of dates.
Start with the dated local finding: In Monterey Park, CA, the 2024 ACS reports a median owner-occupied home value of $863,000, median household income of $81,855, and median selected monthly owner costs of $3,091 for owners with a mortgage. Together, those three reference points may help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $3,091 measure combines recurring ownership expenses instead of real estate taxes alone. For borrower planning, a useful affordability review starts with $863,000, $81,855, and $3,091, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.
Monterey Park, CA's $863,000 median home-value estimate is above the statewide $734,700 estimate, with a reported city-to-state gap of 17.5%. That 17.5% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Monterey Park, CA.