Pacific Grove, CA—93950
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Pacific Grove, CA
Home Price Trends — Pacific Grove, CA
As of Oct '25, the median home price in Pacific Grove, CA is $1,359,000, with a year-over-year change of -2.8%. This indicates that home prices in Pacific Grove, CA are decreasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,359,000 | -2.8% |
| Single Family | $1,377,000 | -2.9% |
| Condos | $1,041,000 | 4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $879,000 | -5.3% |
2 Bed | $1,169,000 | -2.7% |
3 Bed | $1,458,000 | -2.7% |
4 Bed | $1,819,000 | -1.7% |
| 5 Bed | $2,226,000 | -0.4% |
% of Housing Stock
Rental Trends — Pacific Grove, CA
As of July '25, Rentcast reports the average rent in Pacific Grove, CA is $3,450, with a year-over-year rent change of 10.9%. Per bedroom, the median rent as of July '25 in Pacific Grove, CA is studios: $2,120, 1-bedrooms: $2,480, 2-bedrooms: $3,200, 3-bedrooms: $4,800, 4-bedrooms: $6,080. The most common rental property sizes in Pacific Grove, CA are 2-bedroom and 1-bedroom, accounting for 51.9% and 26.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,350 | $3,450 |
| Studio Rent | $2,120 | $2,120 |
| 1 Bed Rent | $2,400 | $2,480 |
| 2 Bed Rent | $3,500 | $3,200 |
| 3 Bed Rent | $4,500 | $4,800 |
| 4 Bed Rent | $6,000 | $6,080 |
% of Rental Stock
Property Listings — Pacific Grove, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Pacific Grove, CA is 75. This is a increase of 27.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,490,000 | -8.0% |
Listing Count | 55 | 40.0% |
| Listings as % of Homes | 0.3% | 40.0% |
Days on Market | 75 | 27.0% |
Demographics — Pacific Grove, CA
As of the latest ACS Survey released in 2023, Pacific Grove, CA has a population of 15,000, which has decreased by -3.8% over the past 5 years. Pacific Grove, CA is a moderately popular place for families, as children make up 16.2% of the population. The area has a highly educated workforce, with 58.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,000 | -3.8% |
% Under 18 | 16.2% | -12.9% |
% Seniors | 28.9% | 9.9% |
% WFH | 18.0% | 68.2% |
% w/ College Degree | 58.5% | 11.0% |
As of the latest ACS Survey released in 2023, Pacific Grove, CA is a predominantly white area, with 72.8% of the population identifying as white. The white population has shrunk by 8.0% in the last 5 years. The second most common race or ethnicity in Pacific Grove, CA is hispanic, making up 11.8% of the population. Foreign-born residents account for 13.1% of the population in Pacific Grove, CA, and this percentage has increased by 21.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.8% | -8.0% |
% Black | 0.9% | -35.7% |
% Hispanic | 11.8% | 15.7% |
% Asian | 7.4% | 39.6% |
% Foreign Born | 13.1% | 21.3% |
Mortgage and Risk — Pacific Grove, CA
According to HUD data as of 2023, there were 123 mortgage originations in Pacific Grove, CA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 42.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Pacific Grove, CA. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 123 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 2.0% |
% Second Loans | 16.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Pacific Grove, CA
As of 2024, the percent of homes in Pacific Grove, CA under the Section 8 program is 3.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Pacific Grove, CA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 138 |
Total Units Section 8 | 138 |
% Rentals under Section 8 | 3.9% |
% Occupied Section 8 | 74.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $880 | $2,400 | $3,280 |
| 2 Bedroom | $450 | $3,500 | $3,950 |
| 3 Bedroom | $830 | $4,500 | $5,330 |
| 4 Bedroom | -$190 | $6,000 | $5,810 |
Affordability — Pacific Grove, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 12.3 |
| Median Home Price | $1,359,000 |
| Median Household Income | $106,000 |