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Friday, July 30, 2010

Housing

Description	Number
Total single family homes in county¹	51,117
Median cost for all housing sales (2008)¹	$212,000
Average Housing Cost – New House^{2, 3}	$212,000—232,288
Average Housing Cost – Resale^{2, 3}	$204,500—232,288
Average Housing Cost – Average Listing^{2, 3}	$219,095—230,700
Average Housing Cost – Middle Management⁴	$230,000
Average Housing Cost – 2-Bedroom Condominium⁴	$125,000
Average Monthly Rental Cost– 2-Bedroom Apartment⁵	$700/month
Vacancy Rate – Average Annual Apartment Vacancies⁵	5-10%

Notes:

1. Source: Construction Industry Research Board

2. Source: Previously completed HOME Survey & Realtor phone survey (6/97) and Chico Board of Realtors (6/97)

3. Assumptions: Single-family home, 3-bdr, 2,000 sq. ft.

4. Source: Developer survey,

5. Source: Landlord survey, Note: Apartment vacancies depend on the time of year and the level of enrollment at CSU, Chico and Butte Community College.