Is this rust concerning?

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Sacramento, CA
I am close to buying a 2002 and everything I can see looks good. How does the rust look in this picture? I am probably overthinking this a bit because we are spoiled in California. This vehicle lived in the snow a few months out of the year, though.

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Not bad, hardly any noticeable rust there.
I owned a 3rd generation for a year. Worst areas for rust were inner frame rail on passenger side and bottom of coil spring perches, both in the back. Sometimes it’s worth dropping the spare tire to get a good look at the areas where moisture, debris and salt can get packed in and fester.
I’ve also seen a couple of these 3rd gens with differentials leaking due to rust through of the cover. The entire axle has to be replaced in this case since the cover is not removable.
Anyway, if this one won’t be in salty areas anymore it should be just fine.
 
Not bad, hardly any noticeable rust there.
I owned a 3rd generation for a year. Worst areas for rust were inner frame rail on passenger side and bottom of coil spring perches, both in the back. Sometimes it’s worth dropping the spare tire to get a good look at the areas where moisture, debris and salt can get packed in and fester.
I’ve also seen a couple of these 3rd gens with differentials leaking due to rust through of the cover. The entire axle has to be replaced in this case since the cover is not removable.
Anyway, if this one won’t be in salty areas anymore it should be just fine.
No need to replace the axle, just clean it up and weld up the hole or JB weld over it. I know for a fact JB will hold for at least 5 years in this application... have done this on several.

One of the first spots rust usually gets bad is next to the muffler; the added heat here accelerates rust - then you're cutting and welding in patches... this one wasn't even that bad.

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.....what I mean is that the picture the OP showed is envious and is in fine shape 🙃
 
No need to replace the axle, just clean it up and weld up the hole or JB weld over it. I know for a fact JB will hold for at least 5 years in this application... have done this on several.

One of the first spots rust usually gets bad is next to the muffler; the added heat here accelerates rust - then you're cutting and welding in patches... this one wasn't even that bad.

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.....what I mean is that the picture the OP showed is envious and is in fine shape 🙃
Great photo. Yup, that's the worst spot alright. Mine also had a long crack on that side, forward of the control arm, with some rust developing, but it wasn't real bad. I've seen much worse. Seems to me that the 3rd gen frame is more vulnerable to rusting out in adverse environments than 1st and 2nd gen 4Runners.
 
Well, I picked it up yesterday! The original owner had every receipt and was on top of all services and maintenance. I am bringing it tomorrow to the local Toyota dealer to start fresh with an oil change and complete inspection. I'm fairly certain the valve cover gasket needs to be repaired so I will likely have that serviced.
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