I can understand モンスター娘 and 日常, but I can't understand モンスター娘のいる.
いる means " one be there" in this case, so モンスター娘のいる日常 means " ordinaries which the monster girls are there".
This "の" is used instead of "が" which is set behind a subject.
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I think they are different. The の of 雨の降る様子を眺める is the same usage of モンスター娘のいる日常. – Yuuichi Tam Jan 26 '16 at 10:43
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の have many usages. dictionary.goo.ne.jp/jn/171157/meaning/m0u/%E3%81%AE – Yuuichi Tam Jan 26 '16 at 10:49
Literally: Everyday life in which monster daughter exists. Commonly: Everyday life with monster daughter
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1Well, I'm not that good with grammar, but I know that 'no' particle is used to show possession. – Soul Jan 26 '16 at 10:28
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