Rentometer, Inc. | Data as of 10/22/2025
Morro Bay offers a distinctive coastal lifestyle where the gentle rhythm of the Pacific blends seamlessly with a vibrant, yet relaxed, small‑city atmosphere. Residents enjoy easy access to iconic landmarks such as the towering Morro Rock, the bustling waterfront harbor, and the scenic Bayfront Trail, making outdoor recreation a year‑round pastime. The city’s neighborhoods, from the historic Downtown district to the family‑friendly Morro Bay State Park area, provide a variety of living environments that cater to professionals, retirees, and families alike.
The rental market reflects this diversity, featuring both modern apartments and spacious single‑family homes. Two‑bedroom apartments are popular among couples and young professionals, while two‑ and three‑bedroom houses attract families looking for more room and a garden setting. Rental rates range from the $2,400 s for two‑bedroom apartments up to the $4,100 s for larger three‑bedroom homes, positioning Morro Bay as a competitive option within the Central Coast region. Prospective renters can expect well‑maintained properties that often include amenities such as coastal views, private parking, and close proximity to local shops, cafés, and schools.
Beyond the waterfront, Morro Bay’s cultural scene—highlighted by art galleries, festivals, and a thriving culinary scene—adds to its appeal. Excellent schools, a low‑traffic environment, and a strong sense of community make the city an attractive choice for those seeking a balanced, seaside lifestyle while remaining within commuting distance of larger employment centers in San Luis Obispo County.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 2 Bedroom | $2,397 | $2,525 | $1,690 - $2,850 | $2,500 - $2,850 |
| House | 2 Bedroom | $2,950 | $2,750 | $1,475 - $5,995 | $2,500 - $3,000 |
| House | 3 Bedroom | $4,145 | $3,700 | $2,500 - $6,000 | $3,550 - $5,600 |
In the current period, the average rent in Morro Bay was
$1,494 for 1 Bedroom,
$2,792 for 2 Bedroom, and
$3,929 for 3 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.