Mortgage Rates in Chico, California — March 2026
Updated March 2026 | Based on Chico market data and regional lending conditions
Chico is a growing city in California with a population of 101,475. The current 30-year fixed mortgage rate in Chico is 6.55%, which is 0.1% below the national average. With a median home price of $385,000 and a 20% down payment of $77,000, homebuyers can expect a monthly principal and interest payment of approximately $1,957.
Current Mortgage Rates in Chico, CA
Below are the current average mortgage rates available in the Chico area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.55% | 6.65% | -0.1% |
| 15-Year Fixed | 5.79% | 5.89% | -0.1% |
| 5/1 ARM | 6.05% | 6.15% | -0.1% |
| FHA | 6.15% | 6.25% | -0.1% |
| VA | 5.95% | 6.05% | -0.1% |
| Jumbo | 6.75% | 6.85% | -0.1% |
Chico Housing Market Overview
The Chico housing market reflects moderate demand with prices near the national average. The median household income in Chico is $42,250, and the cost of living index is 102.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $94,329 to comfortably afford the median-priced home in Chico, which exceeds the current median household income.
Monthly Payment Breakdown for Chico
Based on the median home price of $385,000 with 20% down ($77,000), here is what you can expect to pay monthly in Chico:
15-Year vs. 30-Year Mortgage in Chico
Choosing a 15-year mortgage in Chico at 5.79% instead of a 30-year at 6.55% would save you $243,000 in total interest over the life of the loan. However, your monthly payment would be $2,564 instead of $1,957 — an increase of $607 per month.
Calculate Your Chico Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Chico
What are the current mortgage rates in Chico, CA?
As of March 2026, the average 30-year fixed mortgage rate in Chico, California is 6.55%, while the 15-year fixed rate is 5.79%. FHA loans average 6.15% and VA loans 5.95%. These rates are 0.1% below the national average of 6.65%.
How much is a monthly mortgage payment in Chico?
Based on the median home price of $385,000 with 20% down, the estimated monthly mortgage payment in Chico is $1,957 for principal and interest. Including property taxes of $244/month, the total monthly housing cost is approximately $2,201.
What income do I need to buy a home in Chico?
Using the 28% rule, you would need an annual income of approximately $94,329 to afford the median-priced home in Chico at $385,000. The median household income in Chico is $42,250. This means most households would need to either earn above the median or consider homes below $385,000.
Is Chico a good place to buy a home in 2026?
Chico has a moderate cost of living with a cost of living index of 102.5 (national average = 100). The property tax rate in California is 0.76%, which is below the national average. Chico has a population of 101,475 and offers a balanced lifestyle.
Mortgage Rates in Other California Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Chico, California area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.