Chico California Residential Rent and Rental Statistics
The median monthly gross residential rent in Chico, CA (the Chico metro area) was $1,087 in 2019 according to the Census ACS survey.1 Average gross rent in Chico was $1,141 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Chico median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Chico California (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| California Median Gross Rent | $1,614 | +4.33% | +12.08% |
| Chico, CA Median Gross Rent | $1,087 | +0.18% | +5.23% |
Chico, CA Real Gross Rent Trends
At $1,087, real median gross rent in Chico was at its highest level in 2019 since the series began in 2005. At $1,141, real average gross rent in Chico was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Chico: Chico CA Median, Chico CA Average, California Median, US Median
Real Gross Rent History for Chico
| Date | US Median |
California Median |
Chico, CA Median |
Chico, CA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,614 | $1,087 | $1,141 |
| 2018 | $1,077 | $1,547 | $1,085 | $1,070 |
| 2017 | $1,043 | $1,492 | $1,031 | $1,051 |
| 2016 | $1,027 | $1,440 | $1,033 | $1,096 |
| 2015 | $1,017 | $1,391 | $999 | $1,012 |
| 2014 | $986 | $1,339 | $936 | $945 |
| 2013 | $953 | $1,289 | $910 | $977 |
| 2012 | $940 | $1,277 | $948 | $970 |
| 2011 | $941 | $1,268 | $893 | $913 |
| 2010 | $955 | $1,300 | $963 | $1,007 |
| 2009 | $960 | $1,316 | $925 | $977 |
| 2007 | $927 | $1,266 | $961 | $982 |
| 2005 | $910 | $1,216 | $939 | $925 |
Chico Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Chico California was 5.64% according to Census ACS data.
Rental Vacancy Rate in Chico California
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| California | 4.06% | +0.09% | +0.75% |
| Chico, CA | 5.64% | -2.06% | -2.21% |
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 2.24% to 5.64%. Data records for this series originated in 2005.
Rental Vacancy Rate: Chico CA, California, US
Historical Rental Vacancy Rate data for Chico
| Date | US | California | Chico, CA |
|---|---|---|---|
| 2019 | 5.97% | 4.06% | 5.64% |
| 2018 | 6.15% | 3.97% | 7.70% |
| 2017 | 6.18% | 3.49% | 7.59% |
| 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% |
| 2007 | 7.87% | 4.72% | 3.74% |
| 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 20.85% in 2019 according to the ACS.
Chico California Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| California | 24.08% | -0.15% | -0.28% |
| Chico, CA | 20.85% | -3.92% | -5.37% |
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 2016 (relative to the 2005 series origin) at 26.22%. Since then it has fallen by 5.37% to 20.85%.
Fraction of Income towards Rent: Chico CA, California, US
Historical Data for Annual Rent as a Fraction of Income in Chico California
| Date | US | California | Chico, CA |
|---|---|---|---|
| 2019 | 20.03% | 24.08% | 20.85% |
| 2018 | 20.50% | 24.23% | 24.77% |
| 2017 | 20.13% | 24.18% | 24.46% |
| 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% |
| 2007 | 18.66% | 21.58% | 24.83% |
| 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 2019 40.87% of households were renters according to Census ACS data.
Chico Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| California | 45.14% | -0.04% | -1.22% |
| Chico, CA | 40.87% | -0.53% | -0.01% |
Trends in the Chico, CA Renter Fraction
The Chico household renter fraction peaked in in 2005 at 42.89% and is now 2.02% below that level. From a recent low of 38.61% in 2009, the household based renter fraction has now grown by 2.26%. The origin year for the series is 2005.
Fraction of Renting Households: Chico CA, California, US
History of Chico Renter Fraction
| Date | US | California | Chico, CA |
|---|---|---|---|
| 2019 | 35.89% | 45.14% | 40.87% |
| 2018 | 36.05% | 45.18% | 41.40% |
| 2017 | 36.13% | 45.21% | 42.00% |
| 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% |
| 2007 | 32.80% | 42.00% | 41.11% |
| 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. ↩
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