Home to almost $1.5 million people, San Diego is one of the fastest-growing cities in the US!
According to a Zillow study, 100 economists and housing experts predicted home values would rise 2.8 percent this year the San Diego housing market.
Rents are predicted to rise by 8% and property prices are tipped to rise as much as 4.7%. So investing in the San Diego market seems to be the right move.
One bedroom apartments in San Diego rent for $1810 a month on average and two bedroom apartment rents average $2286.
The average rental income and return on investment are $2,771 and 1.3%, respectively.
The shortage of supply and an increase in demand for housing will push prices forward throughout 2020.
As the popularity of San Diego continues to rise, so will the number of renters making it one of the hottest rental markets in the country.
However, as the population grows and house prices increase, affordability will become a larger issue.
Many people are beginning to move further out of the city, as some areas qualify for USDA grants.
Experts suggest that even millennial buyers, who traditionally select to live closer to the city, are opting to move into more rural areas. As they plan on raising families and feel they can get more for their money.
There are some great opportunities to purchase a home in San Diego in 2020. Most people just need to know what their options are and where to look. Contact me to today to learn more about your options!
Mary Carlson
looking Forward to connecting with you!
Mary D. Carlson joins forces with the Team Azizi, a division of Compass, with a distinguished military and academic career. Mary Carlson, originally from Texas, brings Southern character with a distinguished military and academic career. Mary began her real estate career buying houses across San Diego County. She navigated her way through the Southern California marketplace and found her passion while still in the service. Mary brings a diverse skill set and a breadth of knowledge to Southern California Real Estate. Her previous career experience as an Enlisted Veteran and Civilian Engineer for the U.S. Navy allowed her to build leadership skills and gain emotional intelligence, and resiliency. Mary's #1 priority to her client is showing the extreme benefits real estate can provide as an investment and a home, while also providing them value and experience through any real estate process with a passion she believes in.
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