There are currently 14,777 real estate properties in Monterey Park, CA, with a median automated valuation model (AVM) price of $896,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Monterey Park, CA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Monterey Park, CA, is $927,752.00, with the most expensive house in Monterey Park, CA, topping out at $13,855,900.00 and the cheapest home in Monterey Park, CA, clocking in at $116,415.00. In other words, there’s something for every potential homebuyer or savvy investor in Monterey Park, CA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Monterey Park, CA, is on a rollercoaster ride. The average rent price in Monterey Park, CA, is $2,700.00. Indeed, when looking to rent in Monterey Park, CA, you can expect to pay as little as $960.00 or as much as $5,220.00, with the average rent median estimated to be $2,760.00. The good news is that finding an affordable and desirable property to rent in Monterey Park, CA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Monterey Park is located in Los Angeles, California, with an estimated municipal population of 59,669 residents. All of the best foreclosed homes for sale in Monterey Park are located in the following zip code areas on Foreclosure.com: 91755 91754 91756. The estimated population per square kilometer (.62 miles) in Monterey Park is 3,002.
So, about how much do homes cost in Monterey Park? The most recent median value of resident-owned homes in Monterey Park is 616,205. An estimated 52.1 percent of households in Monterey Park own their homes, with an average family size of 3.39. The median household income in Monterey Park is 61,819, with31.4 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Monterey Park, the median commute time of resident workers (in minutes) is 30.4. And last, but certainly not least, are you looking for homes to rent in Monterey Park? If so, the average rent price paid by renters in Monterey Park is 1,400, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Monterey Park, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Monterey Park is 44.1, split between 48.1 percent male versus 51.9 female. The percentage of residents who report being married in Monterey Park is 50.6, with an average family size of 3.39.
The percentage of residents who report their race in Monterey Park is as follows:
| White | 14% |
| Black / African American | 0.7% |
| Asian | 65.6% |
| American Indian / Alaskan Native | 0.5% |
| Native Hawaiian / Other Pacifc Islander | 0.5% |
| Multi-racial | 1.8% |
| Other | 16.9% |
Looking for family-friendly neighborhoods in and/or near Monterey Park? Or maybe you are searching for 55+ active adult communities in and/or near Monterey Park?
The percentage of residents who report their age in Monterey Park is as follows:
| Under 10 | 9.1% |
| Aged 10-19 | 9.7% |
| 20s | 12.2% |
| 30s | 13% |
| 40s | 12.8% |
| 50s | 14.3% |
| 60s | 13.7% |
| 70s | 7.9% |
| 80+ | 7.3% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Monterey Park with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Monterey Park.
How do you know that living in -- or moving to -- Monterey Park is right where you need to be? Perhaps you grew up in Monterey Park or already live nearby; therefore, the decision to buy a home in Monterey Park is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Monterey Park for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Monterey Park:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Monterey Park.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Monterey Park can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Monterey Park, meanwhile, can field multiple offers from more qualified buyers.
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