Home Affordability in Modesto, CA
The median home price in Modesto is $400,000 with a median household income of $54,780. Housing is significantly stretched relative to local incomes.
Median Home Price
$400,000
Median Income
$54,780
Price-to-Income Ratio
7.3x
Est. Affordable Home
$213,000
Property Tax Rate
0.83%
Annual Property Tax
$3,320
Sales Tax Rate
8.75%
Cost of Living Index
105
Buying a Home in Modesto
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $54,780 in Modesto can afford a monthly housing payment of approximately $1,278. This translates to a home price of roughly $213,000, which is below the median home price of $400,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Modesto would be approximately $3,320 per year ($277/month) at the effective rate of 0.83%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $12,000 | $388,000 | Yes |
| 5% | $20,000 | $380,000 | Yes |
| 10% | $40,000 | $360,000 | Yes |
| 20% | $80,000 | $320,000 | No |
Use Our Home Affordability Calculator
Get a personalized estimate based on your income, debts, down payment, and credit score.
Calculate Now