Back in 2019, San Diego ranked 12th out of the most expensive cities to live in. The housing market is continuing to increase across the nation, and prices in San Diego are no exception.
Known for its beautiful coasts and temperate weather, San Diego is a great place to relocate to. However, it's helpful to have a salary guide and cost of living estimate to understand what it is required to live in San Diego. Keep reading to learn more.
What is the average salary in San Diego? The mean wage in the San Diego-Carlsbad region is $30.91 per hour. That equates to just under $65,000 a year.
That should help give you a good estimate of how much people are making in the region - keep in mind that this is the average.
Just like other cities across the nation, there are different expenses between San Diego real estate and rent. So where exactly does San Diego rank compared to other states?
With a baseline of 100.0 for the average cost of living, San Diego rates at 160.1 How does it compare to the rest of California? Unfortunately, blue skies and ocean access come at a cost even in the Golden State. The state of California ranks at 149.9 on that same scale for the average cost of living.
These housing statistics are kind of tricky to wrap your head around. How does this equate to actual costs?
To put it more simplistically, the average San Diego cost of a home is just over $800,000. Yikes.
If you're relocating from other areas in California, such as San Francisco, which boasts the highest cost of living, then you might find reprieve in these costs. However, if you're coming from other states where the cost of living is less than the average in the United States you will be in for a shock.
Current Housing Costs
The market is doing crazy things right now. Few knew what to expect this year after coming out of 2020. What has transpired is skyrocketing housing prices among other costs of living.
Is the market expected to slow down anytime soon? That's always debatable.
However, most experts are expecting housing costs in San Diego to start to reach a plateau in the upcoming weeks. The downside? There isn't expected to be a significant drop-off in San Diego real estate.
It is helpful for many families and individuals to see a stabilization in prices after a year of high costs that have made many houses unaffordable. There is a chance that houses in San Diego could continue to peak if supply never catches up with demand.
Mortgage rates are still at all-time lows, and San Diego is in a unique situation where it is unable to keep up with housing units to meet the population growth demand.
Ultimately, time will tell what the people decide moving forward with purchasing a home.
Why San Diego?
Not only is San Diego a great place to live if you're craving warm weather and sandy beaches, but it is also ideal if you want to beat the craziness of big cities such as Los Angeles. While San Diego is a major hub and city, it provides a little bit more of an escape for families than other areas.
San Diego has the best of both worlds. Are you looking for fun city nightlife? Check. Are you wanting adventurous outings with your kids at different venues? Check.
This city boasts a non-stop supply of adventure and relaxation. In fact, it was ranked as the 11th best place to live for quality of life. In a world getting more hectic by the minute, this is something everyone can strive to do a little better at.
What else is there to do in San Diego?
You can visit the San Diego Zoo, SeaWorld, Balboa Park, or attend Comic-Con in July. San Diego is also renowned for its authentic Mexican food and amazing restaurants.
If you want to lounge by the beach, there are many trails, public beaches, and biking paths. Because this city sits right on a harbor, you should expect constant crossings from the Coast Guard and U.S. Navy, as well as many cruise ships now that cruise lines are opening up.
You can sit on the harbor and watch these huge ships make port in San Diego before heading off around the world.
San Diego Realtor
Purchasing a new home is hassle enough. Having to deal with pestering realtors is another ordeal. If you are looking to relocate to San Diego, look for a San Diego realtor to help you through the process.
San Diego real estate is going fast, and handling the process by yourself is putting a lot on your plate. Local realtors won't get paid until you do - that means they will have the sale or purchase of your home at the forefront of their minds.
You also won't have to worry about shopping around for a home, because they will have you covered. They do all the hard work and paperwork to get you on your way to your brand-new home in little to no time.
Make sure you have a trusted real estate company for your San Diego home buying. They will help you know your salary guide and what is within your price range.
A local San Diego real estate agent will know the ins and outs of the area to best help you find the home of your dreams.
Look no further - check out a trusted company that will find you the best-priced home within the designs you are looking for and come enjoy the best that Southern California has to offer.
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