That is rather cheap for the Bay area, cost of living there in Cal is much higher than most States. Last time I was in Monterey was in 1984 as a Navy friend last named Murphy, and his younger brother who was at the Naval Academy. The 3 of us and another guy got together and went Scuttlebutt sailing in the bay. One of my best days ever having fun as cruising about 30 knots. Never sailed before even though I was in the Navy having been deployed on 3 Aircraft Carriers (USS Forrestal, Independence and Kitty Hawk) is not the same. It was an experience to do some real sailing with sails.
It was fun to get away from the Naval Air Station for a weekend as drove my used 1978 Alfa Romeo Spyder (bought in 1983) to the bay. Driving around Pebble Beach area with all the wealthy folks homes well hidden or behind closed gates. Never made it to San Fran to drive over the Golden Gate bridge or further north to the Redwood National Park. In my new 1982 Mustang GT 5.0 302 Boss V8 with T-tops been to Yosemite National Park, Joshua Tree, San Lois Obispo beach, Visalia, Fresno, San Diego, drove I-5 over Mt. Shasta. I was there May 2, 1983 the Coalinga Ca. earthquake of 6.2 as stationed at Naval Air Station Lemoore 33 miles away. In 1985 flew commercial from San Fran to Tokyo and met a nice woman about 2 years older than myself, we had become pen-pals and I called her a few time, every time I wanted to visit her in Santa Rosa, she had an excuse and she was single. I was in Washington State, north of Seattle, on May 18, 1980 when Mt. St. Helens blew as 210 miles away. Did not feel and heard anything until broadcast on the news. Had no volcanic ash falling in my area, people were collecting and selling the ash. LOL.
Maintenance and car repairs were simpler as most you could DIY. Today with fuel injection and computers you need special tools and test equipment which provided the means for Dealerships and Repair Shops to jack up labor rates. Also, for Insurance companies to raise premiums since unable to do a fix / repair without replacing everything. Plastic, Fiberglass and aluminum has to be thrown away. Now parts are expensive. Auto Labor rates are not set to a standard price across the U.S. as getting more expensive everyday.