$122,298/yr
is the income needed to buy the typical $398,224 home in Chico, CA at today's 6.95% rate — about $2,854/mo. The local median household ($68,574) falls $53,724 short.
The math (shown)
398,224 price − 10% down (39,822) = 358,402 loan
30-yr fixed at 6.95% on 358,402 = 2,372/mo principal+interest
+ 481/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
2,854/mo PITI ÷ 0.28 = 10,192/mo → 122,298/yr required
against Zillow ZHVI 2026-08 (Zillow ZHVI (typical home value, smoothed, all-homes 33–67pct tier)) and the 6.95% FRED 30-yr rate (2026-09-17). Local median income: $68,574 (U.S. Census Bureau ACS 2023 5-year, median household income (table B19013)).
Can I afford Chico, CA on my salary?
Your salary:
Rent vs own here
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FAQ
How much do I need to make to live in Chico, CA?
To buy the typical home, about $122,298/yr. Renting needs less; this page sizes the buy.
What home value is this based on?
Zillow's ZHVI typical-home-value for the Chico, CA metro (2026-08): $398,224.
Is the mortgage rate current?
Yes — 6.95% from FRED's weekly 30-year fixed average (2026-09-17).
Glossary
ZHVI
Zillow Home Value Index — the typical home value for a region (35th–65th percentile, smoothed, seasonally adjusted).
Front-end DTI
Housing payment as a share of gross income; lenders commonly cap it near 28%.
PITI
Principal, Interest, Taxes, and Insurance — the full monthly housing cost.