A new report from Zillow reveals that San Diego families need an income of nearly $275,000 a year to afford a mortgage, nearly double pre-pandemic levels. This means less than 18% of households in the county, with a median income of $96,964, could comfortably afford a home.
Only about 11% of households in San Diego County, where the median household income is $96,964, make enough money to comfortably afford a home, according to USD research San Diego families need an income of nearly $275,000 a year to afford a mortgage on a home, which is nearly double what it was before the pandemic, according to a new report from the real estate website Zillow.
Of the 50 largest metropolitan areas Zillow ranked, San Diego needed the fourth-highest income in order to afford a home, trailing only three other California cities -- San Jose, San Francisco and Los Angeles. Another way San Diegans may be able to afford a home is to move elsewhere. The cities with the lowest income required to afford a mortgage were Pittsburgh; Memphis, Tenn.; Cleveland, Ohio; and New Orleans, according to Zillow.
Housing Affordability San Diego Zillow Report Income Requirements Mortgage Costs
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