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Modesto Introduction
Modesto is the county seat of Stanislaus County. It is located in California's the San Joaquin Valley, approximately 80 minutes south of Sacramento, 90 minutes northeast of San Jose, and 90 minutes east of San Francisco. Modesto had a population of nearly 203,000 people as of 2005 census estimates. This represents an increase of slightly more than 10% since the 2000 census. Modesto is the largest city in Stanislaus County.
Modesto Real Estate
According to U.S. Census Bureau estimates, as of 2005 there were 70,865 housing units in Modesto. 60.3% of these were owner occupied, which is an owner occupancy rate below the national average at that time (66.9%).
Over half (57.4%) of Modesto's housing was built prior to 1980. A small percentage (4.9%), however, were built before 1939. 22.2% was built in the 1980s, 13.4% was built in the 1990s, and 6.9% since the turn of the century. The "standard" Modesto housing unit consists of 4 to 7 rooms with 2 to 3 bedrooms. Only 10.2% have 8 or more rooms, and 16.3% have more bedrooms.
Housing in Modesto is affordable by California standards. The median value of a Modesto home in 2005 was twice the national average at $336,900. This is up substantially from the 2000 census when the value was $128,000.
As of 2005, home owners in Modesto paid median housing costs of $1,532 per month. These were approximately $300 more than the national average. 81.9% of owner occupied homes in Modesto had a mortgage in 2005. 28.9% also had one or more second mortgages.
Recent prices for Modesto real estate range from an average selling price of around $215,000 for a 1 bedroom, to $445,000 for 4 bedrooms (as of December of 2006). The Modesto housing market is characterized by a lot of interest and activity.
Modesto Property Taxes
The Office of the Treasurer & Tax Collector for Stanislaus County is responsible for collecting the county's property taxes. The Stanislaus County Assessor's office is responsible for for setting property values for tax purposes. As of 2005, the median property tax bill for an owner occupied home in Modesto was $1,617.
Modesto Schools
Modesto is served by the Modesto City Schools District and the Stanislaus Union School District. The Modesto City Schools District serves 31,000 K-12 students in 32 schools. The Stanislaus Union School District serves an additional 3,300 students in 7 schools. Three of the schools serving Modesto have earned the National Blue Ribbon from the U.S. Department of Education. In addition, since 2000, 6 elementary schools, 1 middle school, and 2 high schools serving Modesto have earned "Distinguished School Awards" from the California School Recognition Program.
Modesto is also home to several colleges, universities, and trade schools, including: Andon College, the Galen College Of Medical And Dental Assistants, Humphreys College-Modesto, Modesto Junior College, San Joaquin Valley College, and more.
Modesto Economy
Agriculture and food processing are the two pillars of the Modesto economy. This part of the the San Joaquin Valley is known for almonds, apricots, dairy products, melons, peaches, poultry products, tomatoes, walnuts, and wine grapes. Companies with large operations located in Modesto include: Blue Diamond Growers, Del Monte Foods, the E & J Gallo Winery who is headquartered in Modesto, Foster Farms, Frito Lay, Hershey's, and Save Mart Supermarkets.
As of 2005, the median family income in Modesto was $53,967, only slightly below the national average.
Modesto and California Mortgage and/or Real Estate Organizations
| Category | Value |
|---|---|
| Homes With No Mortgage | 20% |
| With A Mortgage | 80% |
| First Mortgage Only | 60% |
| Second Mortgage or Home Equity Loan | 20% |
| Second Mortgage Only | 14% |
| Home Equity Loan Only | 6% |
| Category | Value |
|---|---|
| Owner Costs as % of Income | 21.6% |
| Median Real Estate Taxes (2000) | $1,052 |
| Category | Value |
|---|---|
| Total Occupied | 65,103 |
| 1-Person Households | 22% |
| 2-Person Households | 30% |
| 3-Person Households | 17% |
| 4-Person Households | 16% |
| 5-Person Households | 9% |
| 6-Person Households | 4% |
| 7+-Person Households | 3% |
| Category | Value |
|---|---|
| Median Year Built | 1975 |
| Median Year Built (Owner Occupied) | 1976 |
| Median Year Built (Renter Occupied) | 1975 |
| Category | Value |
|---|---|
| Using Utility Co. Gas Heat | 80% |
| Using Bottled/Tank Gas Heat | 1% |
| Using Electric Heat | 18% |
| Using Oil Heat | 0% |
| Using Coal | 0% |
| Using Wood Heating | 1% |
| Using Solar Heat | 0% |
| Other Heating | 0% |
| No Heating | 0% |
| Category | Value |
|---|---|
| No Bedrooms | 1% |
| 1 Bedroom | 3% |
| 2 Bedrooms | 18% |
| 3 Bedrooms | 58% |
| 4 Bedrooms | 18% |
| 5+ Bedrooms | 2% |
Rate quotes from multiple lenders for the Modesto area:
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