Are rental prices in Modesto higher than ever? Here’s what the data says
Valley renters may be feeling additional strain on their budgets as Modesto has seen one of the highest spikes in rental prices in this region.
On the Modesto subreddit, one post asks the forum, “What do you make of the rising cost of living here in Modesto?” Several respondents cite that they moved to Modesto to escape the rising costs of the Bay Area but have been feeling an encroaching financial strain.
One user replied, “We’re the exact same cost of living as Sac now. My rent was just increased by $400 per month. The cost has gone up so much but the pay hasn’t. Work over 40 hrs a week and barely make 2Xs the rent. I don’t understand how anyone is doing this and not drowning.”
According to a Sacramento Metro Area Report published by the online home rental site Zumper on May 20, the price of a one-bedroom apartment in Modesto is up 5.6% from last month, for a median cost of $1,510, and up 4.1% year over year.
For a two-bedroom apartment, the median cost was $1,800, a 2.3% increase from last month and a 5.9% increase from last year.
A recent story named Modesto one of the most expensive cities to live in the United States, coming in at 87 out of the 100 cities on Consumer Affairs’ list of the most affordable cities in the nation.
The Bee has previously reported on why this may be the case. Lack of housing supply and stagnant wages have contributed to the issue. Seniors and low-income families are especially at risk of not finding suitable housing.
Even migrant farmworkers have sought opportunities outside of California due to a lack of affordable housing straining the local agricultural industry.
What can be done to combat rising rental prices? Earlier this month, Central Valley housing advocates rallied outside a fundraiser for Rep. John Duarte, R-Modesto, to call attention to the lack of affordable housing in the region. Organizers urged Duarte to support President Joe Biden’s 2025 budget, which would include several proposals to alleviate rising costs, including tax credits for first-time home buyers and middle-class families, and increasing housing supply by offering grants and tax credits to build, renovate or preserve homes.
Other Central Valley cities in the report:
Stockton had the second highest year-over-year rent increase at 2.5%, but still ranked as the most affordable city, with rent at $1,230 for a one-bedroom and $1,600 for a two-bedroom apartment.
Sacramento was the third most affordable, with rent at $1,490 for a one-bedroom apartment
Median rental prices fell 5.6% year over year in Sacramento for a one-bedroom unit and 1.6% for a two-bedroom unit.
