Economy in Modesto, California

Modesto’s economy is largely centered around its retail sector due to the numerous shopping centers situated within the area thus providing great job prospects for locals; additionally investments made into higher education institutions plus initiatives given by local governments towards encouraging innovation has been beneficial for continued growth over time. Furthermore, generous tax breaks provided by local governments towards promoting research and development have served as an extra boost for these two key sectors.

Modesto has an unemployment rate of 8.0%. The US average is 6.0%.

Modesto has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 29.5%, which is lower than the US average of 33.5%.

Tax Rates for Modesto
- The Sales Tax Rate for Modesto is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Modesto is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Modesto
- The average income of a Modesto resident is $23,034 a year. The US average is $28,555 a year.
- The Median household income of a Modesto resident is $47,607 a year. The US average is $53,482 a year.