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!
How Much VA Home Loan Can You Afford? Figuring it Out.
Using the VA loan to buy my own homes has given me the opportunity to provide my experience for you. I am NOT a licensed mortgage broker.
How to Apply for a Certificate of Eligibility on Ebenefits
Go to https://www.ebenefits.va.gov/ebenefits/homepage & Click Log in or Register on the top right portion of the page