Rent vs Buy in Modesto, CA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Modesto, CA
Price-to-rent ratio is 23.8 (under 15 favors buying, over 21 favors renting). Renting costs $1,566/mo; owning runs about $3,342/mo — $1,776/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,372 |
| Property tax | $411 |
| Home insurance | $187 |
| Maintenance | $373 |
| Total to own | $3,342 |
| Average 2BR rent | $1,566 |
Based on a median home value of $447,871 with a $89,574 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.