Modesto, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Modesto Neighborhoods Since 2000




Modesto, CA Real Estate Data


Modesto Housing Market Information

With 211,266 people, 70,481 houses or apartments, and a median cost of homes of $255,668, 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%).

Modesto Home Appreciation Rates

Homes have actually lost value in Modesto over the last then years, as home values have seen a decline of 29.56% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Modesto home appreciation rates at 1.11%, which equates to an annual appreciation rate of 4.50%.

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 8.56%, which is higher than appreciation rates in 88.43% 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 1.11%, which equates to an annual appreciation rate of 4.50%.

Relative to California, our data show that Modesto's latest annual appreciation rate is higher than 60% 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.

Average Home Values

 

Median Home Value:
$255,668

Modesto, CA HOME PRICES

Value Range
> $1,430,000 0.4
$1,073,001 - $1,430,000 0.5
$715,001 - $1,073,000 2.0
$572,001 - $715,000 3.6
$429,001 - $572,000 9.7
$286,001 - $429,000 22.6
$143,001 - $286,000 42.4
$71,001 - $143,000 12.7
$0 - $71,000 5.8

Low for CA
High for Nation

Value Relative to Nation Value Relative to State
21.49302707137 74.8677248677249

Number Of Homes And Apartments:
70,481

Rent & Ownership

 

Average Market Rent:
$1,111 / per month

Homeownership Rate

Homeownership
Owners 52.67
Renters 47.33
Vacant 6.28

Housing Market Details

 

Age of Homes

AGE OF Modesto HOMES
2000 or Newer 11.4
1970 - 1999 55.4
1940 - 1969 28.2
1939 or Older 5.0

Types of Homes

TYPE OF Modesto HOMES
Single-Family 69.5
Townhomes 4.1
Small Apt. Buildings 10.1
Apt. Complexes 14.3
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Modesto HOMES
No Bedroom 2.75
1 Bedroom 9.27
2 Bedrooms 24.80
3 Bedrooms 45.49
4 Bedrooms 14.43
5 or more bedrooms 3.26

Modesto Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
60.09% 2.77% 2 7
* 10 is highest