Torn between ocean air and pine-scented hills? In Monterey’s 93940, you can live steps from Cannery Row or tucked into a quiet ridge with big-sky views. Each choice comes with distinct lifestyle perks, home types, costs and long-term considerations. In this guide, you’ll learn how waterfront-adjacent and hillside homes compare so you can match your priorities to the right part of town. Let’s dive in.
Monterey market snapshot
ZIP 93940’s benchmark pricing sits near the mid-to-high seven figures. Zillow’s ZHVI for 93940 was about $1.10 million as of January 31, 2026, and Realtor.com’s December 2025 summary showed a similar median with listing price per square foot around $730. Redfin notes small monthly sale counts in Monterey, so neighborhood-level comps matter most when you set expectations.
Waterfront lifestyle: walkability and buzz
If you picture morning strolls to coffee and sunset walks on the Coastal Recreation Trail, the waterfront blocks near Cannery Row, New Monterey and the wharf fit the brief. WalkScore rates New Monterey blocks near Cannery Row as highly walkable, which makes daily errands and dining a breeze.
Tourism powers this area. The Monterey Bay Aquarium draws large annual visitor volumes, so expect seasonal foot traffic, tighter parking and more ambient evening activity. The tradeoff for convenience is less privacy and smaller lots, with more mixed-use nearby.
Hillside lifestyle: space and calm
Hillside neighborhoods like Skyline Forest, Monterey Vista and nearby upland pockets offer larger lots, treed settings and quieter streets. They are more car dependent, with fewer shops at your doorstep. WalkScore’s Skyline Forest page reflects this car reliance.
Many hillside homes enjoy elevated bay vistas without the bustle of the waterfront. If privacy, yard space and a slower pace rank high for you, this side of 93940 is a strong match.
Home types and lots
Waterfront homes: compact and convenient
- Condos, townhomes and smaller historic cottages are common, plus select remodeled single-family homes.
- Lots tend to be tighter, with mixed-use pockets and public access points nearby.
- Parking can be constrained, and you will feel the energy of visitor seasons.
Hillside homes: mid-century and modern space
- Mid-century ranches, 1960s–1970s homes and contemporary remodels are typical.
- Larger parcels, more separation from neighbors and room for gardens or outdoor living.
- On slopes, future remodels may require engineered foundations or retaining walls.
Pricing patterns to expect
- Zip-level medians hover near $1.10 million, but block-by-block variation is real. Direct oceanfront or harbor-front homes often command multi-million dollar premiums over the 93940 median.
- Hillside neighborhoods like Skyline Forest can achieve comparable pricing when homes offer larger lots, remodeled interiors or panoramic bay views.
- Monterey’s small monthly sales sample means medians jump around. Use recent MLS comps on your specific street to frame value.
Maintenance and risk: what to plan for
Waterfront exposure: salt, storm and infrastructure
Sea air is part of the magic, yet it adds upkeep. Expect more frequent exterior paint, window and roof attention due to salt corrosion. Seasonal storms can stress shoreline infrastructure. Recent reporting noted that Monterey’s wharves need significant repair, which matters for public access and neighborhood amenities (SFGATE coverage of wharf conditions).
Looking ahead, the City is updating its Local Coastal Program to address erosion and sea-level rise. These updates can shape setbacks, permitted work and adaptation requirements, so coastal buyers should stay informed via the City’s LCP update page and consult scientific guidance on regional sea-level trends (peer-reviewed Monterey Bay study).
Hillside exposure: slope and fire
Hillside and upland parcels bring different considerations. Monterey County identifies debris flows, rockslides and slope failures as recurring hazards after heavy storms. Before major renovations, geotechnical evaluations are common, and drainage design matters (County hazard guidance on landslides).
Wildfire and ember exposure vary by block. Check a property’s Fire Hazard Severity Zone designation and plan for defensible space and home hardening where warranted (County FHSZ GIS layer).
Insurance and permitting basics
Availability and cost of coverage can differ by location. Flood exposure near the coast and wildfire exposure in the hills can influence premiums and carrier options. California’s evolving insurance market makes pre-offer quotes a smart step (SF Chronicle context on flood and insurance trends).
If a property is in the coastal zone, certain exterior projects may require a Coastal Development Permit consistent with the City’s LCP. For flood risk screening, review FEMA layers in the County’s GIS before you write an offer (County GIS FEMA flood layers).
Quick decision guide
- Choose waterfront when you value daily walkability to restaurants and attractions, immediate ocean access or views, and a lively, visitor-friendly setting. Plan for more noise, tighter parking and higher long-term coastal considerations.
- Choose hillside when you value privacy, yard space and calmer streets, and you are comfortable driving for most errands. Plan for slope, drainage and tree maintenance, along with wildfire awareness.
Buyer due diligence checklist
Pull current MLS comps for your exact street and property type. Medians are a starting point, not a price.
Check walkability and everyday convenience. For a feel, review Cannery Row area walkability and Skyline Forest car dependence.
Verify flood status. Use the County GIS FEMA flood layers and request flood insurance quotes early if any portion of the parcel intersects mapped zones.
Confirm coastal permitting. Determine whether the property lies in the City’s coastal zone and track any Local Coastal Program updates that could affect future projects (City LCP update).
Assess slope hazards. On or below steep slopes, require geotechnical input for additions and check County records for past incidents (landslide hazard overview).
Review wildfire designation. Note the FHSZ category and plan for defensible space and hardening where applicable (County FHSZ GIS).
Pre-check insurance. Obtain home, flood and optional earthquake quotes to confirm availability and budget impacts (California insurance context).
Track waterfront infrastructure and planning. Wharf and shoreline projects can affect neighborhood experience and timelines for public access improvements (wharf condition reporting).
Ready to compare homes side by side?
Whether you want a condo near the Aquarium or a view home in Skyline Forest, you deserve clear, local guidance tailored to how you live. Let’s map your must-haves to the right streets, pull smart comps and plan for long-term value with calm, confident strategy. Reach out to Susan Clark to begin your Monterey search today.
FAQs
What is the current median home price in 93940?
- Recent snapshots show a median near $1.10 million, based on Zillow’s ZHVI as of January 31, 2026 and Realtor.com’s December 2025 summary; use street-level comps for precision.
Which Monterey areas count as waterfront-adjacent in 93940?
- Cannery Row and New Monterey blocks, Del Monte Beach and the wharf/harbor area are commonly considered waterfront-adjacent due to proximity to the shore and coastal trail.
How walkable is living near Cannery Row in Monterey?
- Many New Monterey streets rate highly for walkability, with quick access to dining, the coastal trail and attractions like the Aquarium, though parking can be tighter in peak seasons.
Do hillside homes in Monterey face wildfire risk?
- Risk varies by block, but upland areas can fall into mapped Fire Hazard Severity Zones, so plan for defensible space and home hardening per local guidance and mapping.
How could sea-level planning impact coastal homes in Monterey?
- Updates to the City’s Local Coastal Program may guide setbacks, adaptation measures and permits for coastal properties, which can affect future projects and costs.
What should I check before buying on a slope in Monterey?
- Order a geotechnical review for additions, verify drainage, review County hazard resources for landslide history and confirm your insurance options early.
