Rent Tracker
Rent Inflation in Modesto, CA
The average asking rent in Modesto, CA is $2,068/month as of 2026-08. That is +1% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$2,068/mo
as of 2026-08
Year-over-Year Change
+1%
24-Month Rent Trend
Monthly ZORI index values for Modesto, CA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $2,068 | +0.49% |
| 2026-07 | $2,058 | +0.24% |
| 2026-06 | $2,053 | +0.29% |
| 2026-05 | $2,047 | +0.05% |
| 2026-04 | $2,046 | +0.24% |
| 2026-03 | $2,041 | +0.34% |
| 2026-02 | $2,034 | +0.39% |
| 2026-01 | $2,026 | +0.25% |
| 2025-12 | $2,021 | -0.20% |
| 2025-11 | $2,025 | -0.54% |
| 2025-10 | $2,036 | -0.54% |
| 2025-09 | $2,047 | -0.05% |
| 2025-08 | $2,048 | +0.05% |
| 2025-07 | $2,047 | +0.39% |
| 2025-06 | $2,039 | +0.15% |
| 2025-05 | $2,036 | +0.64% |
| 2025-04 | $2,023 | +0.65% |
| 2025-03 | $2,010 | +0.60% |
| 2025-02 | $1,998 | +0.05% |
| 2025-01 | $1,997 | -0.25% |
| 2024-12 | $2,002 | -0.50% |
| 2024-11 | $2,012 | +0.15% |
| 2024-10 | $2,009 | +0.30% |
| 2024-09 | $2,003 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices