The story of this market
The typical home in ZIP 76431 sells for about $468,481, or $185 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 78 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,450 a month.
ZIP 76431 — Chico
The housing market in 76431 is characterized by low inventory and steady, modest price appreciation. Demand remains stable, driven by local buyers and those seeking rural property, though the lack of new development keeps sales volume low. Figures for specific metrics like price cuts and months of supply are estimated based on regional trends as precise ZIP-level data is not currently published.
This ZIP is best suited for families and individuals seeking a rural, quiet lifestyle who are willing to commute to larger nearby cities for work and major amenities.
Median prices moved up 2.4% year over year.
Homes spend a median of 78 days on market with 5.2 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.2% · poverty 9.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 10.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 76431, Wise County TX
Schools serving the Chico area are generally rated as average, with local community support for the Chico Independent School District.
The area is subject to standard North Texas weather risks, including severe thunderstorms and occasional wildfire risk in rural, grassy areas.
Economic momentum is driven by proximity to the DFW metroplex, with residents often commuting to larger employment hubs while maintaining a rural lifestyle.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Texas) — Senior (65+) and Disabled Homestead Exemption and School Tax Ceiling: Grants an additional mandatory $10,000 exemption from ISD appraised value (Taxable Value_ISD = Appraised Value - $100,000 - $10,000) and establishes an absolute statutory tax freeze (school tax ceiling): total ISD property taxes cannot exceed the dollar ceiling established in the… State (Texas) — General Residence Homestead Exemption and 10% Valuation Growth Cap: Imposes mandatory state-level valuation deductions and growth limitations on the qualifying homestead: (1) Mandates a $100,000 deduction from appraised value for independent school district (ISD) maintenance and operations/debt taxation: Taxable Value_ISD = Appraised Value - $100… State (Texas) — Ad Valorem Real Property Taxation and Assessment Ratio: Mandates ad valorem appraisal of all real property at 100% of fair market value as of January 1 each tax year (Assessment Ratio = 1.00).
Commuting typically requires a private vehicle, with residents driving toward Decatur or the broader DFW metro area for major employment centers.
Recreation is centered on rural outdoor activities, with proximity to Lake Bridgeport for boating and fishing, and local community parks in Chico.
The rental market is limited, consisting primarily of single-family homes with low turnover and minimal multi-family inventory.
The local economy is largely agricultural and service-based, with many residents employed in the energy sector or commuting to the DFW metroplex.
Transportation is entirely dependent on personal vehicles, with no public transit infrastructure available in this rural area.
Development is primarily low-density residential, with limited large-scale commercial or infrastructure projects currently in the pipeline.
The Wise County Appraisal District manages property assessments, focusing on market-based valuations for residential and agricultural properties.
Parcels are subject to Chico ISD taxes and various county-level special districts for emergency services and water management.
Property insurance premiums are influenced by regional exposure to wind and hail, typical of North Texas, with stable but rising costs.
Data retrieved from Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- The Bowie Pub & Eatery4.117.8 mi
- Wise County Park4.51.7 mi
- Center For Animal Research and Education (CARE)4.910 mi
- Selma Park4.412.8 mi
- Brushy Creek Vineyards4.69.8 mi
- Thousand Trails Bay Landing3.88.4 mi
- Wise County Park4.51.7 mi
- Center For Animal Research and Education (CARE)4.910 mi
- Selma Park4.412.8 mi
- Endeavor Bridgeport4.66.5 mi
- North Side Marina & Resort4.43.2 mi
- Brookshire's4.47.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Major regional reservoir providing boating, fishing, and recreation.
Local community space for outdoor gatherings and recreation.
Key-figure check: median price diverges 30.6% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: the flagged $325,000 (-30.6% vs the prior refresh cycle) could not be independently corroborated and was reverted to the prior cycle value pending review; the case is under review in the Command Center.