Monterey Bay, CA, combines stunning coastal scenery with cultural appeal, making it a prime destination for vacation rentals. In 2024, the average nightly rental price is $523 while the median home price is $810,000, leading to high annual mortgage costs. However, a typical rental season could yield substantial income, covering nearly 89% of mortgage payments. This balancing act makes Monterey Bay attractive for small investors focused on long-term income rather than quick flips, especially given its competitive rental yields compared to other coastal areas. Owners are less inclined to sell due to favorable rental dynamics and the region’s year-round appeal.
Monterey Bay's steady vacation rental market provides a strong investment opportunity for smaller investors, particularly with average rents covering nearly 89% of mortgage costs.
With moderate prices compared to Southern California, Monterey Bay attracts small investors, allowing for stable income from long-term rentals and avoiding the speculative flips.
Despite a dip in nationwide investor sales, owners in Monterey Bay are holding onto properties due to high rental coverage and appealing coastal lifestyle.
The 2024 vacation rental market shows average nightly rates at $523, offering consistent returns that attract families and couples seeking an upscale retreat.
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