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CNNMoney.com > Small Business > Best Places to Launch

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Modesto, CA

Modesto business statistics
Employer establishments with 1-49 employees
(2007)
8,711 11,214
Small business growth rate
(2004-2007)
5% 5.0%
State business tax climate ranking
(out of 50 states)
48 N/A
Percentage of population with bachelor's degree
(ages 25-34)
14.8% 26.9%
Violent crime
(rate per 100,000 inhabitants, 2007)
619.4 478.8
Property crime
(rate per 100,000 inhabitants, 2007)
4,910.2 3,562.2
Population growth
(2003-2008)
5% 5.73%
Per-capita income
(2007)
$28,985 $35,547
Per-capita income growth
(2002-2007)
21% 24.0%
GDP (in millions)
(2006)
$14,356 $18,559
GDP growth
(2001-2006)
41% 32%
Average hourly wage
(2008)
19.26 $18.69
Housing foreclosure rate
(first half of 2009)
19 286
Median rent
(2009, for a 2-bedroom housing unit)
$919 $848
Housing price-to-income (HPI) ratio
(first quarter of 2009)
2.0% 1.9%
Long-term HPI ratio
(20-year average, 1984-2004)
2.24% 1.82%
HPI deviation from long-term average
-27% 0.0%

All statistics are for the full Metropolitan Statistical Area. For a complete list of data sources, see "How we picked the Best Places."
From the November 2009 issue
Best Places Winners
MAPS

BORROW

Local smallbiz lenders

  • Coast Bancorp
  • Mission Community Bancorp
  • Wells Fargo & Company
  • Founders Bancorp
  • Superior Financial Group
See all local lenders

What do you think of Modesto?
Video
ireportTell us why: Low taxes? Talented workers? An active small business community? Send us your photos and videos, and you could be featured in our upcoming coverage of reader-picked Best Places to Launch. More
This year we partnered with the Ewing Marion Kauffman Foundation to find the 50 most business-friendly communities in America.

With help from Robert Fairlie, an economist and leading scholar of entrepreneurship at the University of California, Santa Cruz, we developed a methodology and sifted through such data on factors such as per capita income, hourly wages, workforce quality, crime rates, taxes and foreclosures. More

Comments? E-mail the editors
Data partners

This package was produced in partnership with the Ewing Marion Kauffman Foundation.

Foreclosure data provided by RealtyTrac.

Housing price-to-income data provided by Moody's Economy.com.