Want to rent an average apartment in Modesto? Here’s how much it’ll cost you
The cost of renting an apartment in Modesto continues to climb, rising 5.5 percent in the past 12 months, according to RentCafe, a nationwide apartment search website.
The average Modesto apartment rented for $1,215 in May, that’s up from $1,152 in May 2018, an increase of $63 per month or $819 per year. This follows several years of increases. RentCafe reported the average Modesto apartment rented for $826 a month in 2014.
That means the average rent has gone up about 50 percent in five years, based on the RentCafe calculations and comes as California continues to struggle with an affordable housing crisis that has moved from high-priced coastal communities to the state’s once affordable interior.
RentCafe tracks apartments in market-rate complexes with at least 50 apartments so it does not capture the entire rental market. But rents have been rising throughout Modesto’s rental market, including duplexes, condos and single-family homes.
RentCafe says its average rent is a weighted average based on rents for studio, one-, two- and three-bedroom apartments. It did not provide a breakdown among apartment types.
RentCafe also reported that in May the average rent was $1,154 in Stockton, $1,221 in Turlock and $1,047 per month in Merced. The average rent was $1,666 in Elk Grove, $1,380 in Sacramento and $2,105 in Davis, according to a RentCafe report issued this week for the Central Valley.
This story was originally published June 21, 2019 at 2:10 PM.
