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I don't know about buying, but pretty much any bought home seems like it would be OK here, since most people rent. There are so many of us broke college students, it's mostly just people with an adult income that can afford to buy as far as I know. If you are renting though, stay away from "the aves", West Sac Ave and West 1st Ave especially. Very ghetto for the area, not lit at night. Nord Ave is a hole. If you want to rent an apartment and stay away from drunken morons/ loud parties, the area around the mall is nice. I live on Springfield and it's nice with kids playing around all the time. There's a nice subdivision right across the street too. Nice looking houses, I assume they're bought not rented. East Ave/Lassen/Shasta side of town is OK too. Mostly, if you want to rent, heed the Halloween commercials: "stay away from downtown and the west side". North and South Chico are OK, just not the middle.
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