In case you missed them, read Part 1 here, Part 2 here, and Part 3 here.
If you decide to purchase studio monitors you will want to look for similar specs. It's also important to take workspace into account. Will you have room for monitor stands? How large are the speakers? How large or small is your room? All of this will affect how your speakers sound in a particular space. Smaller monitors may not be able to produce as much low end as larger monitors and larger monitors could be too bass-heavy in a smaller room. Most studio monitors are active meaning they have their own internal power source, but it's good to remember that inactive speakers will need an amplifier to operate so keep this in mind. You may not want to purchase a pair of high-end speakers or headphones right away, but getting a well-balanced pair at a good price is a perfect way to develop your taste as a music producer.
Top Monitor Picks
Ranging from 5”-7”active studio monitors the Yamaha HS series is a great mid-range speaker.
Legends of EDM production the Rokit KRK series of speakers range from 5”-10” monitors. A well-balanced set of monitors for bass-heavy music producers.
Starting smaller than the Yamaha or Rokit series ranging from 3.5” – 8” monitors. The Presonus Eris series has some of the best bang for your buck. With vivid mid to high range frequency playback and smaller size, they'll give you a great-sounding mix without taking up too much room.
Made for the bedroom producer the Mackie CR series range from 3-5 inch monitors. They do not sacrifice quality for quantity having a well-balanced frequency response and great overall sound.
The JBL 305, 306, and 308 series range from 5-8 inch monitors. Powerful and sleek speakers that give you professional sound quality without breaking the bank.