Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 211,266 people, 70,481 houses or apartments, and a median cost of homes of $260,791, Modesto real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Modesto, accounting for 69.51% of the city's housing units. Other types of housing that are prevalent in Modesto include large apartment complexes or high rise apartments ( 14.30%), duplexes, homes converted to apartments or other small apartment buildings ( 10.11%), and a few row houses and other attached homes ( 4.12%).
The most prevalent building size and type in Modesto are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.67% owning and 47.33% renting.
There is a lot of housing in Modesto built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Modesto built between 1940-1969 ( 28.22%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.38%). There's also some housing in Modesto built before 1939 ( 5.04%).
Homes have actually lost value in Modesto over the last then years, as home values have seen a decline of 26.10% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Modesto home appreciation rates at 1.84%, which equates to an annual appreciation rate of 7.58%.
Appreciation rates are so strong in Modesto that despite a nationwide downturn in the housing market, Modesto real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Modesto appreciation rates continue to be some of the highest in America, at 9.48%, which is higher than appreciation rates in 92.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Modesto. Modesto appreciation rates in the latest quarter were at 1.84%, which equates to an annual appreciation rate of 7.58%.
Importantly, this makes Modesto one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to California, our data show that Modesto's latest annual appreciation rate is higher than 70% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Modesto differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Modesto - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Modesto real estate investment or home purchase decisions.
|$1,093,001 - $1,457,000||0.5|
|$728,001 - $1,093,000||2.0|
|$583,001 - $728,000||3.6|
|$437,001 - $583,000||9.7|
|$291,001 - $437,000||22.6|
|$146,001 - $291,000||42.4|
|$73,001 - $146,000||12.7|
|$0 - $73,000||5.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Modesto HOMES|
|2000 or Newer||11.4|
|1970 - 1999||55.4|
|1940 - 1969||28.2|
|1939 or Older||5.0|
|TYPE OF Modesto HOMES|
|Small Apt. Buildings||10.1|
|SIZE OF Modesto HOMES|
|5 or more bedrooms||3.26|