120 DEL REY GARDENS DRIVE
MONTEREY, CA 93904

Economic and Demographic Composition of Monterey, CA

Monterey, California, is a vibrant coastal city renowned for its historical significance, scenic beauty, and robust local economy. Here's an overview of its economic and demographic profile:

Economic Overview

• Key Industries:
  Monterey's economy is driven by diverse industries, including:
• Tourism and Hospitality: As a popular destination for its natural beauty, historical sites, and attractions like Cannery Row and the Monterey Bay Aquarium, tourism plays a vital role.
• Education and Research: Institutions like the Middlebury Institute of International Studies and the Naval Postgraduate School contribute significantly to the economy.
• Agriculture and Fishing: The region's agricultural industry, supported by nearby Salinas Valley, and its rich fishing heritage bolster local markets.
• Defense and Government: Monterey is home to several military installations, such as the Defense Language Institute.
• Employment:
  The city offers a mix of job opportunities across service, education, and technical sectors, supported by a relatively low unemployment rate compared to state and national averages.
• Median Household Income:
  The median household income in Monterey is approximately $83,000, reflecting a middle- to upper-income demographic, with some variation depending on the neighborhood.

Demographic Composition

• Population:
  Monterey has a population of about 30,000 residents, contributing to its small-town charm while still providing the amenities of a more urban setting.
• Age Distribution:
• Median age: Approximately 37 years, reflecting a balance of young professionals, families, and retirees.
• Notable populations include a strong presence of active and retired military personnel, college students, and professionals.
• Ethnicity:
  Monterey is a culturally diverse city with the following approximate breakdown:
• White: 70%
• Hispanic or Latino: 20%
• Asian: 7%
• African American: 2%
• Other: 1%
• Education Level:
  The city boasts a highly educated population, with over 50% holding a bachelor’s degree or higher, driven by its research and educational institutions.

Lifestyle and Living:

Monterey offers a high quality of life with a mix of urban amenities and natural beauty. The cost of living is relatively high due to its desirable location, but residents enjoy excellent schools, low crime rates, and outdoor recreational opportunities, including hiking, cycling, and water sports.

Conclusion:

Monterey is a dynamic city with a stable economy, a well-educated and diverse population, and a strong sense of community. Its unique blend of historical significance, economic opportunities, and lifestyle benefits make it an attractive place for businesses and residents alike.