* San Diego’s high housing prices, coupled with its relatively low wages, make it the 6th least affordable major metropolitan area in the country. (National Association of Home Builders, 4th quarter 2006)
* San Diego’s Purchase Prices
Overall median home price (new and resale, attached and detached) . .$472,000
Average price of a new detached home. . . $835,794
Single-family resale home median price . . . $540,000
Resale condo median price . . . $380,000
Median price for newly-built houses, condos and condo conversions . . $395,000
National median home price . . .$220,000
(The San Diego Union-Tribune, 2/15/07; DataQuick Information Systems; MarketPointe Realty; National Association of Realtors)
* The minimum annual income needed to afford a one-bedroom apartment in San Diego is $48,200. (The San Diego Union-Tribune, 1/10/07; National Housing Conference Center for Housing Policy, “Paycheck to Paycheck”)
* About 13 percent of the work force earns less than $8.35 per hour, according to the San Diego Association of Governments. New professionals are among those who have a hard time affording to live in San Diego, and may be tempted to move elsewhere to buy better housing with their salaries. (The Daily Transcript, 9/6/06)
Interesting! And... erm... kinda depressing.
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