Housing
Modesto has become the affordable alternative for Bay Area professionals looking to get more house for their dollar. In many areas over the past two years, houses have increased in value between 20 and 27 percent. Since 1990, the average real estate appreciation rate has been +83 percent.
The City has mostly single-family homes, a few small apartment buildings, some complexes/high rise apartments, and a few mobile homes. The average sale price for a three-bedroom single family home in March 2006 was $356,000.
The majority of the homes were built in the early 1960s. There are also some well established older homes built between 1940 and 1959, a few newer homes built after 1985, and a few historic homes built prior to 1939.