Department of Numbers

Chico California Residential Rent and Rental Statistics

The median monthly gross residential rent in Chico, CA (the Chico metro area) was $942 in 2015 according to the Census ACS survey.1 Average gross rent in Chico was $954 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Chico median and average rent data will be released in September of 2017.

Data is also available below for Chico rental vacancy rates, Chico rent as a percent of median income and the fraction of renters in Chico.

Show dollars as: Nominal Real

Real Gross Rent in Chico California (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
California Median Gross Rent $1,311 +3.88% +8.98%
Chico, CA Median Gross Rent $942 +6.68% +5.37%

Chico, CA Real Gross Rent Trends

At $942, real median gross rent in Chico was at its highest level in 2015 since the series began in 2005. Average gross rent for Chico peaked in real terms in 2008 at $961 and is now $7 (0.73%) lower. From a recent low of 860.0 in 2011, real average gross rent has now increased by $94 (10.93%).

Real Gross Rent in Chico: Chico CA Median, Chico CA Average, California Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Chico

Date US
Median
California
Median
Chico, CA
Median
Chico, CA
Average
2015 $959 $1,311 $942 $954
2014 $930 $1,262 $883 $891
2013 $898 $1,215 $858 $921
2012 $886 $1,203 $894 $915
2011 $887 $1,195 $842 $860
2010 $901 $1,225 $908 $949
2009 $905 $1,241 $872 $921
2008 $920 $1,267 $929 $961
2007 $874 $1,194 $906 $926
2006 $883 $1,191 $906 $950
2005 $858 $1,147 $885 $872

Chico Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Chico California was 7.88% according to Census ACS data.

Rental Vacancy Rate in Chico California

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
California 3.33% -0.57% -1.18%
Chico, CA 7.88% +2.14% +2.13%

Trends in Chico, CA Rental Vacancy Rate

At 7.88%, Chico residential rental vacancy rate in 2015 is at the highest point since 2005, the beginning of our reporting for this series.

Rental Vacancy Rate: Chico CA, California, US

Rental vacancy rate in California

Historical Rental Vacancy Rate data for Chico

Date US California Chico, CA
2015 5.85% 3.33% 7.88%
2014 6.32% 3.90% 5.74%
2013 6.49% 4.22% 3.33%
2012 6.77% 4.51% 5.75%
2011 7.40% 4.94% 4.54%
2010 8.17% 5.86% 4.95%
2009 8.43% 5.76% 6.09%
2008 7.86% 4.71% 4.66%
2007 7.87% 4.72% 3.74%
2006 7.70% 4.67% 2.17%
2005 7.74% 4.61% 4.37%

Rent as a Fraction of Income

Using median household income data for Chico, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Chico, median monthly gross rent as a fraction of median household income was 24.77% in 2015 according to the ACS.

Chico California Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
California 24.39% -0.18% -0.30%
Chico, CA 24.77% -0.36% -1.34%

Trends in Chico, CA Rent as a Fraction of Income

The fraction of median Chico household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 26.10%. Since then it has fallen by 1.34% to 24.77%.

Fraction of Income towards Rent: Chico CA, California, US

Percent of median household income going towards median monthly gross rent in Chico California

Historical Data for Annual Rent as a Fraction of Income in Chico California

Date US California Chico, CA
2015 20.63% 24.39% 24.77%
2014 20.89% 24.57% 25.12%
2013 20.78% 24.40% 24.25%
2012 20.65% 24.69% 26.10%
2011 20.70% 24.59% 25.33%
2010 20.50% 24.18% 24.83%
2009 20.12% 23.52% 23.32%
2008 19.00% 22.32% 24.90%
2007 18.66% 21.58% 24.83%
2006 18.90% 21.80% 22.97%
2005 18.89% 21.77% 24.62%

Renter Fraction in Chico California

You can calculate the renter fraction in Chico in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Chico as a fraction of total Chico households. In 2015 42.46% of households were renters according to Census ACS data.

Chico Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
California 46.41% +0.14% +0.44%
Chico, CA 42.46% +1.78% +1.90%

Trends in the Chico, CA Renter Fraction

The Chico household renter fraction peaked in in 2005 at 42.89% and is now 0.43% below that level. From a recent low of 38.61% in 2009, the household based renter fraction has now grown by 3.85%. The origin year for the series is 2005.

Fraction of Renting Households: Chico CA, California, US

Fraction of renters in Chico

History of Chico Renter Fraction

Date US California Chico, CA
2015 36.97% 46.41% 42.46%
2014 36.90% 46.27% 40.68%
2013 36.50% 46.21% 42.51%
2012 36.09% 45.97% 40.56%
2011 35.42% 45.12% 41.72%
2010 34.65% 44.36% 40.53%
2009 34.13% 43.43% 38.61%
2008 33.36% 42.95% 42.30%
2007 32.80% 42.00% 41.11%
2006 32.73% 41.55% 40.11%
2005 33.10% 41.56% 42.89%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.