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Morro Bay, CA Homes for Rent

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  • /40

    $4,400 Per Month

    • 2 Beds
    • 2 Baths
    • 1,100 Sq Ft
    • Apartment for Rent

    1108A Front St, Morro Bay, CA 93442

    BRAND NEW 2026 CONSTRUCTION! CORNER UNIT PENTHOUSE FACING THE WATER IN MORRO BAY!! Experience coastal living at its absolute finest. This brand-new, never-lived-in 2-bedroom, 2-bathroom residence places you directly on the water in highly desirable Morro Bay. The location is in the heart of the Morro Bay and the Embarcadero. Walk to every store and the wonderful seafood restaurants. This is a

    Lisa Karos Coldwell Banker Realty

    1108A Front St, Morro Bay, CA 93442
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    $2,450

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 744 Sq Ft
    • Condo for Rent

    2605 Nutmeg Ave Unit A, Morro Bay, CA 93442

    Modern, fully furnished, one bedroom; all inclusive apartment in a quiet neighborhood. Great walkable neighborhood. Easy walk to grocery store, farmers market, beach. Great sunset, ocean and Morro rock views. Most attractions and sights are within one hour (or less) driving, such as Hearts Castle, Madonna Inn, SLO County Wine Country, hiking trails. Fully appointed kitchen with stainless steel

    2605 Nutmeg Ave Unit A, Morro Bay, CA 93442
  • /39

    $3,400 Per Month

    • 3 Beds
    • 3 Baths
    • 1,490 Sq Ft
    • Condo for Rent

    1951 Sunset Ave, Morro Bay, CA 93442

    Enjoy coastal living in this spacious, clean and bright two-story end-unit condo with beautiful Pacific Ocean and Morro Rock views. Offering 3 bedrooms and 3 bathrooms across approximately 1,490 square feet, this home features updated living areas, new flooring and fresh paint throughout. Two private decks and a patio seating area provide inviting spaces to relax, entertain and take in the

    Catherine Stone Central Coast Real Estate

    1951 Sunset Ave, Morro Bay, CA 93442
  • /14

    $2,475 Per Month

    • 2 Beds
    • 1 Bath
    • 625 Sq Ft
    • House for Rent

    2107 Sunset Ave, Morro Bay, CA 93442

    This two-bedroom, one-bath home in Morro Bay Owner Pays gas and electric!! This home features an open floor plan and hard surface floors throughout, complemented by recessed lighting and ceiling fans. The kitchen includes a refrigerator, stove and microwave, and the bathroom offers a tiled shower/tub combo. Enjoy outdoor space with fenced front and back yards, providing privacy and easy

    2107 Sunset Ave, Morro Bay, CA 93442
  • /57

    $3,800 Per Month

    • 3 Beds
    • 2 Baths
    • 1,775 Sq Ft
    • House for Rent

    978 Balboa St, Morro Bay, CA 93442

    Available September 1st - A Furnished House with a view of Morro Rock: 3 Bedrooms, 2 Full Bathrooms, Vaulted Ceilings, Ceiling Fans, Smart TV's, Fireplace, Laundry Inside, Covered Balconies, Private Yard, Utilities, WIFI and Landscaping Included. 1-pet considered, NO SMOKING, 700 minimum credit score required.

    Yvonne Fisher Fisher Real Estate

    978 Balboa St, Morro Bay, CA 93442
  • /20

    $2,300 Per Month

    • 1 Bed
    • 1 Bath
    • 530 Sq Ft
    • Condo for Rent

    828 Napa Ave Unit 828 Napa Ave., Morro Bay, CA 93442

    This upstairs one bedroom, one bathroom apartment was recently renovated and is located above a commercial space in a multi-unit complex. Its central location makes it an easy walk to anywhere you might need to go in Morro Bay. Features include great views of Morro Rock, new flooring, paint, and a large bedroom closet. Water, Sewer, and Trash included.Notes: Parking for one car.

    828 Napa Ave Unit 828 Napa Ave., Morro Bay, CA 93442

Why Live in Morro Bay

Morro Bay, located on California’s Central Coast, is a picturesque seaside fishing village about 15 miles from San Luis Obispo. Known for its stunning coastal landscape, the town features the iconic Morro Rock, part of the volcanic Nine Sisters chain, rising from the Pacific Ocean beside a sandy beach and a quaint downtown harbor. The area offers ample opportunities for water recreation, including sailing, surfing, fishing, and birdwatching. With a population of roughly 11,000, Morro Bay attracts retirees, families, and young professionals, many of whom work remotely or in the local service and hospitality industries. The community is tight-knit, with residents looking out for each other despite the influx of tourists.

Morro Bay boasts extensive natural attractions, such as the 6-mile stretch of Morro Rock Beach and Morro Strand State Beach, ideal for swimming, surfing, and whale watching. The 2,700-acre Morro Bay State Park offers wetlands and marshes that attract around 250 migratory bird species, along with trails leading to Black Hill and Cerro Cabrillo. The park also features a marina, an 18-hole golf course, and the Morro Bay Museum of Natural History.

Housing in Morro Bay ranges from mid-20th-century beach bungalows and coastal cottages near the Embarcadero to newer custom homes on rolling hills with water views. The median home price is around $955,000, with oceanfront properties and elevated homes commanding higher prices. The Embarcadero is the hub for boutique shopping and fresh seafood dining, with local markets offering daily catches.

Morro Bay is part of the highly rated San Luis Coastal Unified School District, recognized as the best in San Luis Obispo County. The area also enjoys lower-than-average property and violent crime rates. Public transportation is available through the San Luis Obispo Regional Transit Authority, and the town is conveniently located near the scenic Highway 1. Medical facilities and the San Luis Obispo County Airport are within a short drive.

Frequently Asked Questions

How much does it cost to rent a home in Morro Bay, CA?
The median rent for a home in Morro Bay, CA is $2,937 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Morro Bay, CA?
To comfortably afford the median rent in Morro Bay, CA, a household needs to earn roughly $117,480 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 $2,937 per month in Morro Bay, CA, renters typically need to show $8,811 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 Morro Bay, CA?
In Morro Bay, CA, the price-to-rent ratio is 27.0, 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 Morro Bay, CA are best for renting a home?
The best neighborhood for renting in Morro Bay, CA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Cayucos, Billygoat Acres, Upper Monterey, Cambria and Highland, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
6
Median Rent
$2,937
Median Single Family Home Rent
$3,000
Median Townhouse Rent
$2,250
Median Condo Rent
$1,500
How to Rent a Home