300 Kings Ave
300 Kings Ave,
Morro Bay, CA 93442
3 Beds | $6,500
Rental Market Trends in Morro Bay, CA
Updated September 2026
The average rent in Morro Bay, CA is $1,094/month.
Rent in Morro Bay is 34% lower than the national average rent of $1,665/month, making this one of the less expensive cities statewide.
$1,094/month
Average Rent
0 Sq Ft
Average Size
+0.9%
Change / Year
8
Available Apartments
Morro Bay rent varies by unit size and layout:
- Studio apartments in Morro Bay average per month.
- One-bedroom apartments in Morro Bay average $1,094 per month.
- Two-bedroom apartments in Morro Bay average $1,309 per month.
- Three-bedroom apartments in Morro Bay average $1,873 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Morro Bay, CA?
In the past year, rent has increased by 0.9%, which averages out to $10 more per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Morro Bay, CA
September 2026
$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 $1,094, you’ll want to make about $3,646 per month or $43,752 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.
View the Morro Bay Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Morro Bay?
The average rent in Morro Bay is $1,094 per month, which is 34.3% lower than the national average of $1,665.
Are rents going up or down in Morro Bay?
Rents in Morro Bay, CA are increasing, with prices up 0.9% year-over-year and $10 more per month.
What rent range is most common in Morro Bay?
In Morro Bay, CA, 100% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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 September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.