An example method for multi-tenant adaptive monitoring comprises detecting occurrence of a trigger event and modifying a selection of metrics included in a plurality of monitored metrics that are monitored using available resources of a plurality of tenants. The method further comprises assigning a respective monitoring frequency for each metric; computing respective weights for each metric in the modified selection of metrics; performing a feasibility check to find a solution to a mathematical model for monitoring the modified selection of metrics at the respective assigned monitoring frequency for each metric; and, in response to determining that a solution to the mathematical model cannot be found, adjusting the respective monitoring frequency for one or more metrics. The method further comprises, in response to finding a first solution to the mathematical model, allocating processing associated with monitoring each metric among the available resources of the plurality of tenants.