I realize this is an ancient thread, but as one of the names mentioned as having worked in Monterey, here's the straight dope.
It was a great place to live and work in radio. But I wouldn't have wanted to hang my hat there, for any length of time on a radio salary. While I loved the six months I worked there, please bear in mind that it was my first job in radio, period. I would have gladly moved to Stockton and done the all night shift on a temporary basis to get my first start - and could have - but opted for the "mystery" shift in Monterey that Billy Moore offered me over the phone in 1978.
The shift turned out to be PM Drive for a whopping $650 a month. So, I never had the chance to dine on lobster, drive a classic Jag XK roadster or live in a cool cliffside pad like Clint Eastwood did in "Play Misty For Me". My dilapidated studio apartment at the end of Eddie Burns Lane ran $170 a month, and I earned more on the side job at Bassackwards than I did at KIDD. But I absolutely love Monterey and was just there for a visit this summer. First time back in 25 years. Still lovely as ever. The accomodations at the Monterey Plaza Hotel were considerably better than my former apartment...