Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 90,316, 34,791 total housing units (homes and apartments), and a median house value of $319,454, real estate costs in Chico are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Chico, accounting for 50.48% of the city's housing units. Other types of housing that are prevalent in Chico include large apartment complexes or high rise apartments ( 23.57%), duplexes, homes converted to apartments or other small apartment buildings ( 16.18%), and a few row houses and other attached homes ( 5.06%).
The most prevalent building size and type in Chico are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 41.69% owning and 58.31% renting.
There is a lot of housing in Chico built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Chico built between 1940-1969 ( 24.99%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.24%). There's also some housing in Chico built before 1939 ( 7.21%).
Vacant housing appears to be an issue in Chico. Fully 10.94% of the housing stock is classified as vacant. Left unchecked, vacant Chico homes and apartments can be a drag on the real estate market, holding Chico real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Chico's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Chico during the period has been just -0.98%, which is lower than 70% of US communities.
Appreciation rates are so strong in Chico that despite a nationwide downturn in the housing market, Chico real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chico appreciation rates continue to be some of the highest in America, at 6.40%, which is higher than appreciation rates in 77.17% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chico. Chico appreciation rates in the latest quarter were at 1.71%, which equates to an annual appreciation rate of 7.00%.
Importantly, this makes Chico one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to California, our data show that Chico's latest annual appreciation rate is lower than 70% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Chico differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chico - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Chico real estate investment or home purchase decisions.
|$908,001 - $1,210,000||1.1|
|$605,001 - $908,000||3.8|
|$484,001 - $605,000||7.6|
|$363,001 - $484,000||21.1|
|$242,001 - $363,000||39.1|
|$121,001 - $242,000||15.5|
|$61,001 - $121,000||3.0|
|$0 - $61,000||8.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Chico HOMES|
|2000 or Newer||15.2|
|1970 - 1999||52.6|
|1940 - 1969||25.0|
|1939 or Older||7.2|
|TYPE OF Chico HOMES|
|Small Apt. Buildings||16.2|
|SIZE OF Chico HOMES|
|5 or more bedrooms||1.19|