Apartment rents edge up in Valley, but not nearly as much as statewide
04/23/2014 8:56 PM
04/23/2014 9:05 PM
Apartment rents have soared in California the past year, but not so much in the Northern San Joaquin Valley.
While the average rent statewide rose 6.4 percent to $1,636 per month this January, February and March, rents in Modesto rose only 2.5 percent to $831, according to RealFacts rental research.
So while California renters typically are paying $99 per month more this year than last, Modesto rents have increased just $21.
Modesto rents remained fairly flat from 2006 until 2013, RealFact statistics show. Example: Apartments in town rented for an average $809 in 2006.
Merced apartments remain among the least expensive in the state, with rents averaging $791 in January, February and March. That’s less than half the state average, and it’s only about $6 per month more than what Merced renters were paying a year ago.
Manteca is a different story. Rents there jumped 5 percent during the past year, and they now average $1,055, an increase of $50 per month. But that’s still a bargain compared to San Jose, where the average apartment rents for $2,197.
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