According to a report, America's Finest City, San Diego, tops the list for having the most unaffordable housing market in the country, surpassing Los Angeles and San Francisco. After reading the report, Cusick takes a chance and moves out of state. Median home prices are still higher in San Francisco than in San Diego, but homes there are considered more affordable due to higher average incomes. San Diego America's Finest City tops the list for having the nation's most unaffordable housing market, according to a new report.
San Diego's elected leaders and government bureaucrats have been working on affordable housing for years, but sadly their efforts haven't been largely successful. The city outperformed its northern California neighbor, notoriously expensive San Francisco, earlier this year, according to a report by real estate analysis firm OJO Labs. USD real estate professor Norm Miller adds that local leadership should also examine what future housing construction will look like in San Diego. One of the most damaging factors driving San Diego's affordable housing crisis has to be the city's costly and time-consuming permitting process.
Because San Diego remains such a desirable place to live, both Battiata and Miller say they don't know if or when the market will change for shoppers. As voters approved costly school bond initiatives and politicians lobbied for costly climate action mandates, the cost of building housing in San Diego was not low for many developers. SAN DIEGO (KUSI) — A new study from OJO Labs found that San Diego has surpassed San Francisco %26 Los Angeles as the least affordable city in the United States. With the generous support of readers like you, Times of San Diego publishes timely and accurate news for a better-informed community.
The study found that the San Diego region ranked at the bottom of the list of places where the dollar goes farthest, behind only San Francisco and New York. Granny flats can be used to help make rents more affordable for service professionals, such as teachers, police officers, and nurses, anyone earning an average salary in San Diego without noticeably changing neighborhoods. Los Angeles and San Francisco are overlooked based on people's incomes and the price of single-family homes. Battiata says San Diego currently has a one-month supply of housing, but it's usually 4 to 5 months of supply.