Dec 9, 2024 - News
San Diego home affordability increased last year
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The gap between San Diego's incomes and its housing prices might be ticking down, but housing in the region remains far more unaffordable than the rest of the country.
By the numbers: In 2023, San Diego's median sales price for existing single-family homes was 8.9 times the region's median household income, down from 9.2 the previous year, according to Harvard researchers from the Joint Center for Housing Studies.
- By that standard, starting from 1990, housing affordability in San Diego was at its lowest point in 2005, during the height of the housing boom, when sales prices were 10.3 times higher than incomes.
The big picture: Nationwide, the median price of existing single family homes last year was 4.9 times greater than the median household income.
- San Diego's price-to-income ratio hasn't been that low since 1999.