Apartments in Robertson Road Modesto

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Modesto:
April Rent Report

Welcome to the April 2024 Modesto Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the April 2024 key findings and figures for the Modesto rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Modesto and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Modesto average rent prices in the chart below.

Monthly Rent Report

$1,900
$1,430
$950
$480
$0
May. 2023
Jun. 2023
Jul. 2023
Aug. 2023
Sep. 2023
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
1 BR       2 BR

Modesto Rent Prices Increase From March to April

Modesto rent prices increased over the last month. From March to April, the city experienced a 7.21% increase for the price of a one-bedroom apartment. The rent price for a Modesto one-bedroom apartments currently stands at $1,562.0.

When we take a look at the two-bedroom comparison from March to April, Modesto experienced a 1.89% increase for the price of a two-bedroom apartment. The rent price for a Modesto two-bedroom apartments currently stands at $1,776.0.

April Prices: Modesto vs. Surrounding Areas

Lathrop, CA
Tracy, CA
Manteca, CA
Modesto, CA
Turlock, CA
$2,195
$1,998
$1,771
$1,457
$1,454
$0
$750
$1,500
$2,250
$3,000
Median 1 BR Rent

Rent Prices in Modesto and Surrounding Areas

Rent prices have increased in Modesto over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 1 of the Modesto suburb increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Tracy, CA .

  • Rent decreased in Manteca, CA, Turlock, CA, Lathrop, CA.

  • 3 suburbs are currently priced higher than the city of Modesto.

  • 1 suburb is currently priced lower than the city of Modesto.

April 2024 Pricing Trends: Modesto vs. National Comparisons

New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Modesto, CA
Minneapolis, MN
Columbus, OH
Pittsburgh, PA
$3,994
$3,038
$2,355
$2,347
$1,893
$1,457
$1,300
$1,264
$1,145
$0
$1,300
$2,600
$3,900
$5,200
Median Rent

Modesto Rent Prices More Affordable Than Major Cities

Rent growth in Modesto over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Modesto average rent prices appear to be relatively affordable for local residents.

The price for a Modesto one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Modesto and surrounding area rent prices, take a look at the complete data set below.

Data set for Modesto and suburbs

1 BR April 1 BR M/M % Change 2 BR April 2 BR M/M % Change
Modesto, CA $1,457.0 4.22% $1,743.0 0.17%
Tracy, CA $1,998.0 0.96% $2,243.0 3.03%
Manteca, CA $1,771.0 -1.56% $2,038.0 -4.41%
Turlock, CA $1,454.0 -0.89% $1,558.0 1.37%
Lathrop, CA $2,195.0 0.00% $2,550.0 0.00%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.