The Affordability Crisis

So what does that mean?

Median priced home: $517,000 (Mortgage $2,300/month)

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Salary you need: $101,000

Median salary in San Diego: $62,962

In 99 of the 106 zip codes in San Diego county, less than half the households can afford a median-priced home.

Why does it matter?

“Homeownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in wealth after the housing bust, the net worth of homeowners over time has significantly outpaced that of renters, who tend as a group to accumulate little if any wealth… As a means to building wealth, however, there is no practical substitute for homeownership.”—Editorial Board, New York Times, November 29, 2014

*According to the Federal Reserve Board’s 2013 Survey of Consumer Finances

More in Neighborhoods

• The Best Places to Live in San Diego
• Making the Move
• 6 Ways to Get Involved in Your Neighborhood
• “Why We Chose Our School”
• Where Should I Live?
• What You Get for the Money

The Affordability Crisis