3335 Panorama Dr
3335 Panorama Dr,
Morro Bay, CA 93442
2 Beds | $2,650
Rental Market Trends in Morro Bay, CA
What is the average rent in Morro Bay, CA?
$1,100/month
Average Rent
0 Sq Ft
Average Apartment Size
+1%
Increase in the Last Year
As of July 2025, the average rent in Morro Bay, CA is $1,100 per month. This is 33% lower than the national average rent of $1,637/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, $1,100 for a one-bedroom apartment, and around $1,294 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,883 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 July 2025
Legend
2024
2025
Rent Ranges in Morro Bay, CA
Last Updated July 2025
$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
What salary do I need to live comfortably in Morro Bay, CA?
Because the average rent in Morro Bay is $1,100, you’ll want to make about $3,666 per month or $43,992 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.
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
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.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.