How much is a home worth in ZIP code 93940?

The typical home in 93940 is worth $1,154,285, based on the Zillow Home Value Index.

Are home values rising in 93940?

Home values in 93940 are down 3.2% over the past year, and up 3.4% a year over five years.

What is the typical rent in 93940?

A typical home in 93940 rents for about $2,764 a month, a gross rental yield of 2.9%.

What is the property tax rate in 93940?

The effective property tax rate in 93940 is 0.6% — roughly $7,332 a year on a typical home.

ZIP code 93940 has a population of 30,605 and a median household income of $106,044.

HousingHandbookReference data

…

U.S. ZIP Code · CA93940

Monterey County · Salinas, CA

Typical home value

$1,154,285^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -3.2%
5-year / yr: +3.4%
10-year / yr: +4.8%

Relative price

vs U.S.: +306.3%
vs metro: +39.6%
vs state: +64.8%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 93940 is worth $1,154,285 — 39.6% above the Salinas, CA median. Over the past year, values have fallen 3.2%. Homes here rent for a typical $2,764 a month — a 2.9% gross rental yield. The effective property tax rate is 0.6%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,764^[2]
Gross yield: 2.9%^[2]
Cap rate: 1.7%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.6%^[3]
Typical annual tax: $7,332^[3]

#Climate risk

FEMA National Risk Index ratings for Monterey County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Relatively Low
Wildfire: Relatively High
Drought: Very High
Heat wave: Relatively Moderate
Hurricane: Not Applicable
Tornado: Relatively Low
Earthquake: Relatively High
Winter weather: Very Low

#Who lives here

Population: 30,605^[3]
Median household income: $106,044^[3]

#Migration

Household moves in and out of Monterey County over a year, from IRS tax-return data.

Net migration: -2,414^[5]
Moved in: 6,935
Moved out: 9,349

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 5
Elementary: 3
Middle: 0
High: 1

Monterey High
High · Grades 9–12 · Monterey Peninsula Unified
1,326 students
La Mesa
Elementary · Grades K–8 · Monterey Peninsula Unified
654 students
Monte Vista
Elementary · Grades K–8 · Monterey Peninsula Unified
651 students
Bay View Academy
Elementary · Grades K–8 · Bay View Academy District
497 students
Big Sur Charter
Other · Grades K–12 · Big Sur Charter District
89 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield2.9%

Net yield (after ~40% expenses)1.7%

Annual rent$33,170

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$5,837

Loan principal$923,428

Down payment$230,857

Total interest paid$1,177,782

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio2.68

Monthly cost to own$7,414

Monthly rent$2,764

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 42nd percentile^[1]
Rental yield: 14th percentile^[2]
Property tax: 42nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 93940?: The typical home in 93940 is worth $1,154,285, based on the Zillow Home Value Index.
Are home values rising in 93940?: Home values in 93940 are down 3.2% over the past year, and up 3.4% a year over five years.
What is the typical rent in 93940?: A typical home in 93940 rents for about $2,764 a month, a gross rental yield of 2.9%.
What is the property tax rate in 93940?: The effective property tax rate in 93940 is 0.6% — roughly $7,332 a year on a typical home.
Who lives in 93940?: ZIP code 93940 has a population of 30,605 and a median household income of $106,044.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

93908 vs 93940 →
Marina, CA
Typical home
$1,180,719
Gross yield
—
95039 vs 93940 →
Moss Landing CDP, CA
Typical home
$1,087,306
Gross yield
—
95004
Prunedale CDP, CA
Typical home
$974,650
Gross yield
—
93933
Marina, CA
Typical home
$878,268
Gross yield
4.7%
93950
Pacific Grove, CA
Typical home
$1,437,452
Gross yield
2.6%
93962
Spreckels CDP, CA
Typical home
$859,461
Gross yield
—

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#Jump to section

U.S. ZIP Code · CA93940

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