Total monthly cost of ownership
Cost to Own a Home in Chico, California
A $455,000 home here costs
$3,490per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $149,500 a year.
A standard mortgage calculator would have told you $2,520. The real number is $970 higher every month, 38% more than the payment most buyers budget for.
Compare Butte County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Chico against Butte County and California
| Measure | Chico | Butte County |
|---|---|---|
| Median home value | $455,300 | $408,700 |
| Median property tax | $3,398 | $2,819 |
| Effective tax rate | 0.746% | 0.690% |
| Median gross rent | $1,442 | $1,369 |
| Population | 102,032 | 209,470 |
The weather behind that power bill
Chico sits in Butte County, which averages a high of 95.8°F in its hottest month and a low of 39.6°F in its coldest, with 25.67" of precipitation a year and 57% of it in a single three-month stretch. That climate drives 1,747 cooling and 2,394 heating degree days, which is what sets the $169 electricity line above.
See the full climate breakdown for Butte County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Butte County
Full Butte County cost breakdown · Every county in California
Talk to someone who works this market
These are Chico averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Chico every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Chico?
A $455,000 home in Chico, California costs approximately $3,490 per month with 20% down at 7.4%. That is $2,520 principal and interest, $283 property tax, $71 homeowners insurance, $237 utilities and $379 set aside for maintenance.
What is the property tax rate in Chico?
Chico has an effective property tax rate of 0.746%, based on a median home value of $455,300 and median real estate taxes of $3,398. That is higher than the Butte County average of 0.690%.
What is the average home price in Chico?
The median owner-occupied home value in Chico, California is $455,300, against $408,700 across Butte County.
Is it cheaper to rent or buy in Chico?
Median gross rent in Chico is $1,442 a month, against $3,490 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Chico?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Chico, California at today's rate takes a household income of roughly $149,500 a year. That covers the full $3,490 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Chico, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for California.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.