Home Insurance in Monterey, California
The median home value in Monterey is $1,076,300, 38% higher than the Monterey County median.
The typical home in Monterey was built around 1971. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 34% of homes were built before 1960, about 8 points above Monterey County's 26%.
The housing stock in Monterey is 51% single-family homes and 29% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
About 65% of owner-occupied homes in Monterey have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 36% of occupied homes in Monterey are owner-occupied. The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
65% of homes in Monterey are primarily heated with natural gas.
What's the biggest home insurance risk near Monterey? FEMA's National Risk Index points to earthquake (Relatively High) in Monterey County and Monterey County had 1,572 active NFIP flood policies as of September 2026. See the full Monterey County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
In California, the statewide average premium for a standard HO-3 homeowners policy is $1,655 per year (NAIC, 2023 data).
Key figures
| Median home value | $1,076,300 |
|---|---|
| Median year built | 1971 |
| Owner-occupied share | 36% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Earthquake (Relatively High) |
| Active NFIP policies in Monterey County | 1,572 |
| Home insurance premium | $1,655 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)