Department of Numbers

Chico California Residential Rent and Rental Statistics

The median monthly gross residential rent in Chico, CA (the Chico metro area) was $987 in 2016 according to the Census ACS survey.1 Average gross rent in Chico was $1,047 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Chico median and average rent data will be released in September of 2018.

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 (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
California Median Gross Rent $1,375 +3.54% +11.70%
Chico, CA Median Gross Rent $987 +3.46% +13.58%

Chico, CA Real Gross Rent Trends

At $987, real median gross rent in Chico was at its highest level in 2016 since the series began in 2005. At $1,047, real average gross rent in Chico was at its highest level in 2016 since the series began in 2005.

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
2016 $981 $1,375 $987 $1,047
2015 $972 $1,328 $954 $966
2014 $942 $1,278 $894 $902
2013 $910 $1,231 $869 $933
2012 $898 $1,219 $905 $927
2011 $898 $1,211 $853 $872
2010 $912 $1,241 $920 $962
2009 $916 $1,257 $884 $933
2008 $932 $1,284 $941 $974
2007 $885 $1,210 $918 $938
2006 $895 $1,207 $918 $963
2005 $869 $1,162 $897 $884

Chico Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Chico California was 7.85% according to Census ACS data.

Rental Vacancy Rate in Chico California

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
California 3.31% -0.02% -0.91%
Chico, CA 7.85% -0.03% +4.52%

Trends in Chico, CA Rental Vacancy Rate

The rental vacancy rate in Chico peaked in 2015 at 7.88%. Since then it has fallen by 0.03% to 7.85%. Data records for this series originated in 2005.

Rental Vacancy Rate: Chico CA, California, US

Rental vacancy rate in California

Historical Rental Vacancy Rate data for Chico

Date US California Chico, CA
2016 5.89% 3.31% 7.85%
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 26.22% in 2016 according to the ACS.

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

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
California 24.36% -0.03% -0.04%
Chico, CA 26.22% +1.45% +1.97%

Trends in Chico, CA Rent as a Fraction of Income

Chico renters paid 26.22% of median household income towards the median monthly gross rent in 2016. This is the highest fraction of median household income going to rent since the series originated in 2005.

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
2016 20.43% 24.36% 26.22%
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 2016 40.88% of households were renters according to Census ACS data.

Chico Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
California 46.36% -0.05% +0.15%
Chico, CA 40.88% -1.58% -1.63%

Trends in the Chico, CA Renter Fraction

The Chico household renter fraction peaked in in 2005 at 42.89% and is now 2.01% below that level. From a recent low of 38.61% in 2009, the household based renter fraction has now grown by 2.27%. 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
2016 36.88% 46.36% 40.88%
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.