The above shows an overview of the real estate market in Morro Bay, CA. Note how the median home price for Morro Bay, CA runs $495,900, which is 21% higher than the average property price for California. So you’re going to get real estate in Morro Bay, CA that is on-average less affordable than what you’ll find in the rest of California. As for rent, the median for Morro Bay, CA runs $1,337, which is comparatively 3% higher than the average rent for California. For Morro Bay, CA, about 54.2% of the population consist of home owners with about 2.1 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Morro Bay, CA offers a wide variety of real estate. To find your perfect home in Morro Bay, CA, filter your choice by price, location, and number of beds and baths using the search area above.