Single-family homes require a lot of attention. The roof, yard, and pipes are all the owner's responsibility. In coastal areas like Monterey, where humidity and fog are common, this burden feels even heavier.

On the other hand, condos and townhomes are different. The HOA takes care of the exterior walls, roofs, and common areas. However, you pay a monthly maintenance fee. It ultimately comes down to whether you want to handle maintenance yourself or pay someone else to do it.

Let's start with the prices. As of May 2026, the overall median sale price in Monterey is $999,402. This is a decrease of 11.6 percent from a year ago (Redfin). However, the story changes when you break it down by type.

According to local MLS data, the median price for single-family homes is around $1.19 million as of spring 2026. Attached homes, which include condos and townhomes, are priced at about $545,000. That's more than a twofold difference (360realestatepros.com).

Looking a bit broader at Monterey County, the median price for the three months leading up to June 2026 is $897,000, which is a 2.7 percent decrease from the previous year (Redfin). This is a more gradual decline compared to urban areas.

Among the cases I reviewed, there was a couple who moved to Monterey as they approached retirement. Initially, they wanted a single-family home with a garden, but after calculating the time and costs involved in lawn care and drain cleaning, they changed their direction. Ultimately, they chose a townhome where the management takes care of the exterior and landscaping, allowing them to fully enjoy their weekends.

The level of maintenance fees is around the national average, with condos costing about $400 per month and townhomes around $200 (Condo Control data). In Monterey, properties with ocean views or extensive management services often exceed this average, so it's important to carefully review the maintenance fee details before signing a contract.

The relatively high proportion of attached homes aligns with Monterey's popularity as a retirement destination or second home. For owners who do not reside year-round, it can be challenging to manage the exterior upkeep themselves, so many prefer a structure where the management handles maintenance.

Families considering school districts often pay attention to neighborhoods within the Monterey Peninsula school district that have a higher proportion of single-family homes. However, school district boundaries change frequently, so it's advisable to verify the assigned school for a specific address before purchasing.

For investors looking for rental income, Monterey has a steady tourist demand, making the short-term rental market viable. However, there are areas with regulations that limit short-term rental permits, so it's necessary to check whether a specific address is in a short-term rental allowed zone before purchasing.

For those coming from out of state, California's property tax system may be unfamiliar. Taxes are based on the purchase price, and subsequent increases are limited, making it more advantageous the longer you hold the property. Specific criteria may vary by county.

What sets Monterey apart from other Southern California cities is the strong demand for vacation homes or second homes. For owners who do not reside year-round, attached homes, where the management maintains the exterior and landscaping while they are away, are often seen as a more practical alternative than single-family homes that require self-management of lawns and roofs.

For families considering settling down after retirement with the same budget, it helps to calculate not just the purchase price but also the total maintenance costs over the next 5 to 10 years. A lower purchase price does not necessarily mean lower total ownership costs.

When approaching it as an investment, attached homes may have lower initial entry costs, but some complexes have rental restriction covenants. Price increases cannot be guaranteed, and risks are always present. Comparing prices with nearby cities like Salinas outside the Monterey Peninsula can also be a way to broaden your budget.

In Monterey, the first criterion for choosing a type of home is whether you have the capacity and time to handle maintenance yourself. This article is not investment or legal advice, and it is recommended to consult with a professional before making any actual contracts.