Monterey’s Population Trends: Stability in a Shifting Region

Below I am sharing a few interesting graphs (scroll down) on population changes in Monterey County, contrasting them with population changes in San Francisco County.? What stands out to you?? For me, there are a couple of takeaways:

Monterey County has experienced a notable influx of residents aged 65 and older. This demographic shift brings both opportunities and challenges:

• These retirees and soon-to-be retirees often have substantial financial resources, injecting vitality into the local economy.
• Their strong purchasing power can drive up real estate prices, occasionally resulting in surprisingly high-value sales.
• While beneficial for sellers, this trend may create hurdles for other buyers in the market.

The population trajectories of Monterey and San Francisco counties present a stark contrast:

• San Francisco has witnessed a significant exodus, losing approximately 8% of its population over the past four years.
• In comparison, Monterey County has demonstrated remarkable resilience, with a modest population decline of just 1.7% – one of the smallest drops in the region.

Despite an overall trend of outmigration from this region of California, several factors continue to influence the housing market:

• The exodus has not been substantial enough to alleviate the persistent housing shortages in many communities.
• A "boomerang" effect is emerging, with some pandemic-era movers now returning to the area.
• The burgeoning AI industry has breathed new life into San Francisco and its surrounding areas, potentially fueling a resurgence in the region.