Why Live in Monterey Park
Monterey Park, CA, is a small residential city located less than 7 miles from both Downtown LA and Pasadena. Known for its strong community, good schools, and regular cultural events, it provides a suburban lifestyle with easy access to LA’s arts and entertainment scene. Housing options range from mid-century homes to contemporary apartments, with prices varying based on style and size. The city is renowned for its East Asian shopping and dining, featuring popular spots like Jin Hai Pie House for Chinese street food and Dabin Kabob & Hotpot for communal dining. Monterey Park also boasts several Asian supermarkets for those who enjoy cooking at home. The city is home to East Los Angeles College, which includes the Vincent Price Art Museum and serves as the largest local employer. Annual festivals such as Cinco de Mayo, Lunar New Year, and Cherry Blossom Festivals bring the community together with music, performances, and street food. For outdoor activities, residents can visit well-maintained parks with walking trails, playgrounds, and athletic fields, or venture to Pasadena and Angeles National Forest for more rigorous exercise options. Schools in Monterey Park are highly rated, with Monterey Highlands Elementary offering a STEM-focused curriculum and Keppel High School receiving high marks. The city’s low crime risk compared to the national average adds to its appeal, making it a desirable place to live.
Frequently Asked Questions
How much does it cost to rent a home in Monterey Park, CA?
The median rent for a home in Monterey Park, CA is $3,200 per month, though prices vary by neighborhood, size, and property type. As of May 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Monterey Park, CA?
To comfortably afford the median rent in Monterey Park, CA, a household needs to earn roughly $128,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $3,200 per month in Monterey Park, CA, renters typically need to show $9,600 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Monterey Park, CA?
In Monterey Park, CA, the price-to-rent ratio is 22.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Monterey Park, CA are best for renting a home?
Rental Home Trends in Monterey Park, CA
There are currently 2 homes available for rent in Monterey Park, CA. The median rent is $3,200 per month, with single-family homes renting at $3,500, townhouses at $2,500 and condos at $2,650.
Number of Homes for Rent
2
Median Single Family Home Rent
$3,500
Median Townhouse Rent
$2,500