Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Chico, California Home Affordability

The data below measures home affordability for the Chico, California metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Chico home affordability to other cities.

Chico, California Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Chico HPI series. Median household income data for Chico is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Chico, California Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 132.6
September 2013 129.5
June 2013 126.9
March 2013 122.2
December 2012 120.7
September 2012 118.7
June 2012 115.4
March 2012 118.1

Chico, California Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Chico median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Chico, California Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 104.9
September 2013 102.5
June 2013 100.5
March 2013 96.7
December 2012 95.5
September 2012 94.0
June 2012 91.3
March 2012 93.4

Chico, California Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Chico, California and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Chico, California Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $206,922
January 2014 $203,767
December 2013 $203,049
November 2013 $207,908
October 2013 $209,649
September 2013 $202,335
August 2013 $203,049
July 2013 $205,214
June 2013 $212,686
May 2013 $226,909
April 2013 $229,463
March 2013 $226,067
February 2013 $227,191

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data.