477 Kings Ave
477 Kings Ave,
Morro Bay, CA 93442
Studio | $2,000
Rental Market Trends in Morro Bay, CA
What is the average rent in Morro Bay, CA?
$1,087/month
Average Rent
0 Sq Ft
Average Apartment Size
+1%
Increase in the Last Year
As of November 2024, the average rent in Morro Bay, CA is $1,087 per month. This is 30% lower than the national average rent of $1,559/month, making renting in Morro Bay more affordable than most cities in the US. When you rent an apartment in Morro Bay, you can expect to pay about per month for a studio, $1,087 for a one-bedroom apartment, and around $1,285 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,862 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Morro Bay, CA?
In the past year, rent has increased by 1%, which averages out to $12 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated November 2024
Legend
2023
2024
Rent Ranges in Morro Bay, CA
Last Updated November 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
100%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Morro Bay?
Based on current rent prices, Morro Bay/Cayucos/Cambria is the most affordable neighborhood in Morro Bay.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Morro Bay?
Based on current rent prices, Morro Bay/Cayucos/Cambria is the most expensive neighborhood in Morro Bay.
Neighborhood
Average Rent
Average Sq Ft
Which Morro Bay neighborhoods have the most rentals available?
The neighborhood in Morro Bay with the most apartments available is Morro Bay/Cayucos/Cambria .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Morro Bay, CA?
Because the average rent in Morro Bay is $1,087, you’ll want to make about $3,623 per month or $43,476 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Morro Bay, CA compare to other nearby cities and neighborhoods?
Use the tool below to compare Morro Bay, CA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,297/month
$1,297/month
One Bedroom
$1,156/month
$1,156/month
Two Bedroom
$1,504/month
$1,504/month
Three Bedroom
$1,862/month
$1,862/month
Nearby City Rent Trends
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.