Chico, California Housing Market Prices
Chico Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 33% below the California median$438,957
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Median rent 28% below the California median$1,473
Housing Market Overview
| Metric | Chico | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $438,957 | $650,794 | $248,835 |
| Price Trend (Annual %) | 15.1% | 8.9% | 7.5% |
| Median Gross Rent | $1,473 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.8% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chico is about 33% lower than in California. Rent is about 28% lower than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Chico, up about 15.1% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Chico rose about 61.4% between 2015 and 2024, from $913 to $1,473. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 6.6 yearly household incomes in Chico.
Buying the median-priced home in Chico costs roughly 24.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Chico. The price-to-rent ratio in California is about 26.6.
| Metric | Chico | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $438,957 | $650,794 | $248,835 |
| Median Household Income | $66,822 | $99,161 | $80,455 |
| Price-to-Income Ratio | 6.6 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Chico rose about 160.1%, while median household income rose about 66.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Chico | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.5% | 51.7% | 58.5% |
| Rental Rate | 51.8% | 40.8% | 31.2% |
| Vacancy Rate | 7.7% | 7.5% | 10.2% |
| Median Tenure (years) | 10.0 | 15.0 | 15.0 |
| Median Year Moved In | 2016 | 2011 | 2011 |
Chico has a homeownership rate of 40.5%, lower than the California average of 51.7%. Its housing vacancy rate is 7.7%, compared with 7.5% in California.
Housing Stock
| Metric | Chico | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1980 | 1975 | 1978 |
| Median Number of Rooms | 4.9 | 5.0 | 5.5 |
The typical housing unit in Chico was built around 1980. On average, 2.3 people live in a home with about 4.9 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chico, California.
What is the median home price in Chico, California?
The median home price in Chico, California is $438,957, lower than the California average of $650,794.
What is the average home price in Chico, California?
The typical home price in Chico, California, reported as the median sale price, is $438,957. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Chico, California?
The median gross rent in Chico, California is $1,473 per month, lower than the California average of $2,036.
What was the median gross rent in Chico in 2020?
In 2020, the median gross rent in Chico, California was $1,128 per month.
What is the price-to-rent ratio in Chico, California?
The price-to-rent ratio in Chico, California is about 24.8, meaning it would take roughly 24.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Chico.
Are home prices or rent rising faster in Chico, California?
Both home prices and rent are rising in Chico, up about 15.1% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chico, California?
40.5% of households in Chico, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Chico, California?
The housing vacancy rate in Chico, California is 7.7%, higher than the California average of 7.5%.
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