According to Visual Capitalist, San Diego is the third most expensive city when it comes to buying a home. Overall, San Diego's cost of living index is 160.4 instead of 176.2 in Los Angeles. Housing is more expensive in Los Angeles (298.2 there than 279.1 here). Transportation has always been a huge problem in the north, and the cost-of-living index reflects this (165.3 in Los Angeles versus 120.2 in San Diego).
We must pay a little more for food and food (109.7 in San Diego and 104.1 in Los Angeles). All in all, Los Angeles is 9.9% more expensive than San Diego. This creates massive demand for rental properties in San Diego from those who simply can't afford to buy a home. Cashback for properties in the San Diego housing market is around 2.5% for traditional rental properties and nearly 2% if you rent on Airbnb.
San Diego has nearly two months of supply of single-family homes with only 1.5 months of supply of townhomes and condominiums. SAN DIEGO Victoria Cusick was born and raised in Southern California, but in just a few weeks, she'll be moving across the country to start a new life. According to CoreLogic, San Diego ranked second nationally in the metropolitan area ranking for price growth over the past year with an annual acceleration of 26.2%. San Diego County also includes the San Diego-Chula Vista-Carlsbad, CA metropolitan statistical area, which is the 17th most populous metropolitan statistical area.
Because San Diego relies heavily on the leisure and hospitality industries, the unemployment rate is slightly above the national rate. Scott Taylor is a licensed mortgage loan originator, realtor, and full-time investor in San Diego. Overall, food has risen 9.4% in the last 12-month period, but what is worrying is that food at home you buy at the grocery store and eat in the dining room has risen a net 10.8% in the 12 months. San Diego is experiencing the biggest slowdown in high-level price growth, just 0.2% more and 1.7 percentage points lower than in July.
Interesting fact: Half of the first-quarter buyers in downtown San Diego were second homes or investors. Since the last decade (August 2017), the typical value of a home in San Diego County has appreciated by nearly 153.6%. The difference in the overall index isn't that great, but Santee is a little more expensive than Oceanside. As of December 4, initial applications for employment nationwide were 184,000, pretty much the same as before COVID (a big indicator of the overall economy).
San Diego County has risen 61,600 jobs since last October and leisure and hospitality jobs are still below pre-COVID levels. Housing analysts believe that San Diego's housing market will warm up again in the future due to increased demand from the military, tourists and the large influx of the technology industry.