95356, Modesto, CA

Modesto, California is a city located in the Central Valley. Modesto has a population of over 200,000 and is the sixth largest city in California. The 95356 zip code covers much of Modesto and includes areas such as Ceres, Oakdale, Riverbank, and Turlock.

The 95356 zip code has seen steady growth over the past few years. In 2016, home prices in the 95356 zip code increased by 5%. This was due to an increase in demand for housing as well as low interest rates. In 2017, home prices increased by 3%. However, this was not enough to keep up with the rate of inflation which was at 2%.

As of 2018, home prices are still increasing but at a slower pace than in previous years. Home prices are projected to increase by 2% this year and then by 1% each year thereafter through 2022. This would bring the average price of a home in the 95356 zip code up to $239,500 by 2022.

Despite these projected increases, there is still considerable variation in home prices within the 95356 zip code. The highest priced homes are located near downtown Modesto while the lowest priced homes are found near Turlock Airport.

There are several factors that contribute to variations in home prices within a given area: location (near major highways or businesses), size (number of bedrooms and bathrooms), age (newer or older homes), and condition (furnished or unfurnished).

Overall, homeownership rates continue to be high in Modesto with over 80% of households owning their homes outright or with a mortgage. This compares favorably with other cities throughout California which have homeownership rates between 60-70%.

One reason for this high homeownership rate may be due to Modesto's strong economy which has been growing steadily since 2010. Additionally, many people who live in Modesto own their homes because they can afford them - there is no significant gap between median income and median house price within the 95356 zip code .