Much like the surrounding areas, it is significantly more expensive compared to the US as a whole. Compared to the city of Santa Maria, it's a lot more expensive.
Home prices
The cost of the median home in Morro Bay is $607,300. It is about $10,640 (1%) higher in comparison to its surrounding areas.It is about $389,800 (179%) higher in comparison to the United States as a whole, and compared to the city of Santa Maria it is roughly $263,200 (76%) higher.
Rents
Morro Bay's median rent is $1,560 per month. It is approximately $211 (15%) higher in comparison to nearby areas.It is approximately $498 (46%) higher compared to the entire country, and compared to the city of Santa Maria it is roughly $146 (10%) higher.
Nearby places
Los Osos
Los Osos is Morro Bay's neighbor to the south. Its real estate prices are somewhat less expensive. The median home value in Los Osos is $551,500, which is $55,800 (10%) lower than Morro Bay. Rents there are similar. The median monthly rent in Los Osos is $1,520, which works out to $40 (2%) lower than Morro Bay.
Cayucos
Cayucos is Morro Bay's neighbor to the north. Its housing prices are a bit more expensive. The median home value in Cayucos is $770,100, which comes out to $162,800 (21%) higher than Morro Bay. The rent there is a bit less expensive. In Cayucos the median rent is $1,257 per month, which comes out to $303 (24%) lower than Morro Bay.
San Luis Obispo
San Luis Obispo is approximately 11 miles southeast of Morro Bay. Real estate prices there are a little more expensive. The median home in San Luis Obispo costs $643,200, which is $35,900 (5%) higher than Morro Bay. Its rents are fairly similar. In San Luis Obispo the median rent is $1,575 a month, which is very similar to Morro Bay.
Atascadero
Atascadero is approximately 11 miles northeast from Morro Bay. The housing prices there are a little less expensive. The median home value in Atascadero is $493,200, which works out to $114,100 (23%) lower than Morro Bay. Rent there is somewhat less expensive. Atascadero's median monthly rent is $1,415, which is $145 (10%) lower than Morro Bay.
Santa Margarita
Santa Margarita is approximately 11 miles east of Morro Bay. Housing prices there are somewhat less expensive. The median home in Santa Margarita is valued at $525,300, which comes out to $82,000 (15%) lower than Morro Bay. Rents there are a lot less expensive. In Santa Margarita the median monthly rent is $978, which comes out to $582 (59%) lower than Morro Bay.
