Department of Numbers

Modesto California Residential Rent and Rental Statistics

The median monthly gross residential rent in Modesto, CA (the Modesto metro area) was $1,036 in 2016 according to the Census ACS survey.1 Average gross rent in Modesto was $1,020 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Modesto median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in Modesto California (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
California Median Gross Rent $1,375 +3.54% +11.70%
Modesto, CA Median Gross Rent $1,036 -0.19% +6.58%

Modesto, CA Real Gross Rent Trends

Median gross rent for Modesto peaked in real terms in 2010 at $1,044 and is now $8 (0.77%) lower. From a recent low of 967.0 in 2014, real median gross rent has now increased by $69 (7.14%). Average gross rent for Modesto peaked in real terms in 2009 at $1,049 and is now $29 (2.76%) lower.

Real Gross Rent in Modesto: Modesto CA Median, Modesto CA Average, California Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Modesto

Date US
Median
California
Median
Modesto, CA
Median
Modesto, CA
Average
2016 $981 $1,375 $1,036 $1,020
2015 $972 $1,328 $1,038 $1,024
2014 $942 $1,278 $967 $966
2013 $910 $1,231 $972 $981
2012 $898 $1,219 $974 $1,006
2011 $898 $1,211 $969 $979
2010 $912 $1,241 $1,044 $1,029
2009 $916 $1,257 $1,024 $1,049
2008 $932 $1,284 $1,042 $1,038
2007 $885 $1,210 $1,025 $1,031
2006 $895 $1,207 $979 $1,001
2005 $869 $1,162 $968 $962

Modesto Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Modesto California was 1.92% according to Census ACS data.

Rental Vacancy Rate in Modesto California

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
California 3.31% -0.02% -0.91%
Modesto, CA 1.92% -1.06% -5.61%

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 6.25% to 1.92%. Data records for this series originated in 2005.

Rental Vacancy Rate: Modesto CA, California, US

Rental vacancy rate in California

Historical Rental Vacancy Rate data for Modesto

Date US California Modesto, CA
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%
2008 7.86% 4.71% 5.64%
2007 7.87% 4.72% 7.10%
2006 7.70% 4.67% 4.46%
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 22.89% in 2016 according to the ACS.

Modesto California Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
California 24.36% -0.03% -0.04%
Modesto, CA 22.89% -0.60% -1.30%

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 2.67% to 22.89%.

Fraction of Income towards Rent: Modesto CA, California, US

Percent of median household income going towards median monthly gross rent in Modesto California

Historical Data for Annual Rent as a Fraction of Income in Modesto California

Date US California Modesto, CA
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%
2008 19.00% 22.32% 21.95%
2007 18.66% 21.58% 21.67%
2006 18.90% 21.80% 20.63%
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 2016 43.35% of households were renters according to Census ACS data.

Modesto Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
California 46.36% -0.05% +0.15%
Modesto, CA 43.35% -0.20% -0.10%

Trends in the Modesto, CA Renter Fraction

The Modesto household renter fraction peaked in in 2014 at 44.72% and is now 1.37% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Modesto CA, California, US

Fraction of renters in Modesto

History of Modesto Renter Fraction

Date US California Modesto, CA
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%
2008 33.36% 42.95% 37.80%
2007 32.80% 42.00% 36.14%
2006 32.73% 41.55% 35.97%
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.