Modesto California Residential Rent and Rental Statistics
The median monthly gross residential rent in Modesto, CA (the Modesto metro area) was $1,231 in 2019 according to the Census ACS survey.1 Average gross rent in Modesto was $1,209 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Modesto median and average rent data will be released in September of 2021.
Data is also available below for Modesto rental vacancy rates, Modesto rent as a percent of median income and the fraction of renters in Modesto.
Real Gross Rent in Modesto California (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| California Median Gross Rent | $1,614 | +4.33% | +12.08% |
| Modesto, CA Median Gross Rent | $1,231 | +4.41% | +13.46% |
Modesto, CA Real Gross Rent Trends
At $1,231, real median gross rent in Modesto was at its highest level in 2019 since the series began in 2005. At $1,209, real average gross rent in Modesto was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Modesto: Modesto CA Median, Modesto CA Average, California Median, US Median
Real Gross Rent History for Modesto
| Date | US Median |
California Median |
Modesto, CA Median |
Modesto, CA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,614 | $1,231 | $1,209 |
| 2018 | $1,077 | $1,547 | $1,179 | $1,165 |
| 2017 | $1,043 | $1,492 | $1,171 | $1,184 |
| 2016 | $1,027 | $1,440 | $1,085 | $1,068 |
| 2015 | $1,017 | $1,391 | $1,087 | $1,072 |
| 2014 | $986 | $1,339 | $1,012 | $1,011 |
| 2013 | $953 | $1,289 | $1,018 | $1,027 |
| 2012 | $940 | $1,277 | $1,020 | $1,053 |
| 2011 | $941 | $1,268 | $1,014 | $1,025 |
| 2010 | $955 | $1,300 | $1,093 | $1,077 |
| 2009 | $960 | $1,316 | $1,072 | $1,099 |
| 2007 | $927 | $1,266 | $1,074 | $1,080 |
| 2005 | $910 | $1,216 | $1,014 | $1,008 |
Modesto Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Modesto California was 1.95% according to Census ACS data.
Rental Vacancy Rate in Modesto California
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| California | 4.06% | +0.09% | +0.75% |
| Modesto, CA | 1.95% | -0.52% | +0.03% |
Trends in Modesto, CA Rental Vacancy Rate
The rental vacancy rate in Modesto peaked in 2009 at 8.17%. Since then it has fallen by 6.22% to 1.95%. Data records for this series originated in 2005. From a 2017 post peak low of 1.86%, the rental vacancy rate has increased by 0.09%.
Rental Vacancy Rate: Modesto CA, California, US
Historical Rental Vacancy Rate data for Modesto
| Date | US | California | Modesto, CA |
|---|---|---|---|
| 2019 | 5.97% | 4.06% | 1.95% |
| 2018 | 6.15% | 3.97% | 2.47% |
| 2017 | 6.18% | 3.49% | 1.86% |
| 2016 | 5.89% | 3.31% | 1.92% |
| 2015 | 5.85% | 3.33% | 2.98% |
| 2014 | 6.32% | 3.90% | 4.47% |
| 2013 | 6.49% | 4.22% | 7.53% |
| 2012 | 6.77% | 4.51% | 4.25% |
| 2011 | 7.40% | 4.94% | 5.22% |
| 2010 | 8.17% | 5.86% | 6.17% |
| 2009 | 8.43% | 5.76% | 8.17% |
| 2007 | 7.87% | 4.72% | 7.10% |
| 2005 | 7.74% | 4.61% | 4.35% |
Rent as a Fraction of Income
Using median household income data for Modesto, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Modesto, median monthly gross rent as a fraction of median household income was 23.43% in 2019 according to the ACS.
Modesto California Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| California | 24.08% | -0.15% | -0.28% |
| Modesto, CA | 23.43% | +0.40% | +0.54% |
Trends in Modesto, CA Rent as a Fraction of Income
The fraction of median Modesto household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 25.56%. Since then it has fallen by 2.13% to 23.43%.
Fraction of Income towards Rent: Modesto CA, California, US
Historical Data for Annual Rent as a Fraction of Income in Modesto California
| Date | US | California | Modesto, CA |
|---|---|---|---|
| 2019 | 20.03% | 24.08% | 23.43% |
| 2018 | 20.50% | 24.23% | 23.04% |
| 2017 | 20.13% | 24.18% | 22.91% |
| 2016 | 20.43% | 24.36% | 22.89% |
| 2015 | 20.63% | 24.39% | 23.49% |
| 2014 | 20.89% | 24.57% | 22.53% |
| 2013 | 20.78% | 24.40% | 24.19% |
| 2012 | 20.65% | 24.69% | 24.80% |
| 2011 | 20.70% | 24.59% | 25.56% |
| 2010 | 20.50% | 24.18% | 24.43% |
| 2009 | 20.12% | 23.52% | 23.18% |
| 2007 | 18.66% | 21.58% | 21.67% |
| 2005 | 18.89% | 21.77% | 20.48% |
Renter Fraction in Modesto California
You can calculate the renter fraction in Modesto in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Modesto as a fraction of total Modesto households. In 2019 42.62% of households were renters according to Census ACS data.
Modesto Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| California | 45.14% | -0.04% | -1.22% |
| Modesto, CA | 42.62% | +1.81% | -0.73% |
Trends in the Modesto, CA Renter Fraction
The Modesto household renter fraction peaked in in 2014 at 44.72% and is now 2.10% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Modesto CA, California, US
History of Modesto Renter Fraction
| Date | US | California | Modesto, CA |
|---|---|---|---|
| 2019 | 35.89% | 45.14% | 42.62% |
| 2018 | 36.05% | 45.18% | 40.81% |
| 2017 | 36.13% | 45.21% | 42.79% |
| 2016 | 36.88% | 46.36% | 43.35% |
| 2015 | 36.97% | 46.41% | 43.55% |
| 2014 | 36.90% | 46.27% | 44.72% |
| 2013 | 36.50% | 46.21% | 43.45% |
| 2012 | 36.09% | 45.97% | 44.43% |
| 2011 | 35.42% | 45.12% | 42.13% |
| 2010 | 34.65% | 44.36% | 40.52% |
| 2009 | 34.13% | 43.43% | 40.32% |
| 2007 | 32.80% | 42.00% | 36.14% |
| 2005 | 33.10% | 41.56% | 36.32% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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