Los Angeles is 8.2% more expensive than San Diego. Housing costs in Los Angeles are 6.8% more expensive than housing costs in San Diego. Real estate company Zumper, which tracks rental prices and trends in North America, released new data Tuesday that compares average rental prices for one-bedroom homes in several major U.S. UU.
An Attom study conducted earlier this year revealed that San Diego County would have one of the lowest investment returns for homeowners because the purchase price is much higher than in other parts of the country, particularly in the south. Nathan Moeder, a local housing analyst, said San Diego's main problem is not corporate owners, but the lack of single-family homes. Moeder, director of property analysts London Moeder Advisors, said that families who rent single-family homes at a significant cost is proof that California policy should encourage different types of housing. Lilley is also vice president of FBS Property Management, which manages approximately 425 single-family rentals in San Diego County.
Experts generally recommend that you devote at least 30 percent of your annual income to rent, which means you should know the average salary that aligns with the average rent. Renting single-family homes has become big business for institutional investors, but those companies are mainly focused on the South and Southeast. Los Angeles and most major cities in Northern California have a higher cost of living than San Diego in terms of health care. At the same time, San Diego County saw 3 percent of homes sold to investors, down 30 percent in one year.
Tricon doesn't have any rentals available in San Diego and doesn't own any property in the region, according to property records. For those who choose to stop driving altogether, San Diego offers an accessible public transportation system. When counting expenses on your cost-of-living calculator, don't forget to budget for goods and services. Although San Diego is an expensive city, prices vary greatly depending on the neighborhoods you choose to visit.
The last major year for single-family home construction in San Diego County was 2004, during the housing boom, when 9,555 homes were built, according to the Southern California Real Estate Research Council. Anderson, a 38-year-old mother of two, began renting a single-family home in the Clairemont area about two years ago, amid lockdowns caused by the pandemic.