Can You Afford to Buy a Home in Modesto?
The median home in Modesto costs $426,600. To afford it at current mortgage rates with 20% down, you need a household income of about $116,100/year. Your monthly payment would be around $2,709, including taxes and insurance.
Based on national median home values adjusted by Modesto’s Regional Price Parity (104.11). Current 30-year fixed rate: 6.52% (Freddie Mac, as of Jun 11, 2026). Methodology
Sponsored links, AffordMap may earn a commission at no cost to you. Learn more
Monthly payment breakdown
$426,600 home, 20% down, 6.52% rate, 30-year fixed
Rent vs. buy in Modesto
Buying costs $951/mo more than renting, but you build equity. Over 5 years at current appreciation rates, homeowners in similar markets have gained significant equity.
What can you afford in Modesto?
Home price you can afford at each salary level (28% DTI, 20% down)
| Salary | Home you can afford | Monthly payment |
|---|---|---|
| $50K | $122K | $2,709 |
| $75K | $237K | $2,709 |
| $100K | $353K | $2,709 |
| $125K | $468K | $2,709 |
| $150K | $583K | $2,709 |
| $200K | $813K | $2,709 |
Based on 28% front-end DTI ratio, 20% down payment, 6.52% 30-year fixed rate, 1.1% property tax, ~$150/mo insurance.
Can common careers afford a home in Modesto?
Local median salary vs. the $116K needed to buy
Frequently asked questions
What salary do I need to buy a home in Modesto?
To comfortably afford the median home ($426,600) in Modesto with a 20% down payment and current mortgage rates, you need a household income of about $116,100. That keeps your housing costs at or below 28% of your gross income, which is the standard lender guideline.
How much does a house cost in Modesto?
The median home price in the Modesto, CA metro area is $426,600, based on the Census ACS 2023 median home value for the metro. Prices vary widely by neighborhood. A 20% down payment would be $85,320, or $21,330 at 5% down.
What would my monthly mortgage be in Modesto?
On a $426,600 home with 20% down at current rates, your estimated monthly payment would be $2,709 including principal, interest, property tax, and insurance. With only 5% down, add about $169/mo for PMI.
Is it cheaper to rent or buy in Modesto?
Median 2-bedroom rent in Modesto is $1,758/mo (HUD Fair Market Rent). The estimated mortgage payment on the median home is $2,709/mo. Buying is significantly more expensive monthly, though you build equity.