Modesto, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Modesto, CA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Modesto Housing Market Information

With 214,221 people, 71,371 houses or apartments, and a median cost of homes of $303,430, 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 70.56% of the city's housing units. Other types of housing that are prevalent in Modesto include large apartment complexes or high rise apartments ( 13.75%), duplexes, homes converted to apartments or other small apartment buildings ( 9.94%), and a few row houses and other attached homes ( 3.48%).

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 53.83% owning and 46.17% 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 ( 27.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.20%). There's also some housing in Modesto built before 1939 ( 5.42%).

Modesto Home Appreciation Rates

In the last 10 years, Modesto has experienced some of the highest home appreciation rates of any community in the nation. Modesto real estate appreciated 74.95% over the last ten years, which is an average annual home appreciation rate of 5.75%, putting Modesto in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Modesto definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 6.84%, which is higher than appreciation rates in 73.83% 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 0.93%, which equates to an annual appreciation rate of 3.77%.

Relative to California, our data show that Modesto's latest annual appreciation rate is higher than 80% 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:
$303,430

Modesto, CA HOME PRICES

Value Range
> $1,373,000 0.5
$1,030,001 - $1,373,000 1.0
$686,001 - $1,030,000 3.3
$549,001 - $686,000 6.2
$412,001 - $549,000 18.0
$275,001 - $412,000 33.0
$137,001 - $275,000 28.5
$69,001 - $137,000 4.7
$0 - $69,000 4.7

Low for CA
Very High for Nation

Value Relative to Nation Value Relative to State
18.9722627737226 72.083879423329

Number Of Homes And Apartments:
71,371

Modesto Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
94.08% 3.50%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,418 / per month

Homeownership Rate

Homeownership
Owners 53.83
Renters 46.17
Vacant 5.03

Housing Market Details

 

Age of Homes

AGE OF Modesto HOMES
2000 or Newer 11.2
1970 - 1999 56.1
1940 - 1969 27.3
1939 or Older 5.4

Types of Homes

TYPE OF Modesto HOMES
Single-Family 70.6
Townhomes 3.5
Small Apt. Buildings 9.9
Apt. Complexes 13.8
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Modesto HOMES
No Bedroom 2.27
1 Bedroom 9.25
2 Bedrooms 24.23
3 Bedrooms 46.11
4 Bedrooms 14.66
5 or more bedrooms 3.48