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August 2024

San Diego reaches new milestone in affordable housing permits

Since the introduction of an executive order by Mayor Todd Gloria to expedite the permitting process for affordable housing, 27 projects totaling 2,834 homes have received permits in San Diego. The order mandates that 100% income-restricted projects be processed within 30 days, with an average processing time of just seven days. This initiative has significantly impacted the housing market, contributing...

Median home price in San Diego drop $30,000 in a month

Home prices in San Diego County decreased in July, with the median price at $1.02 million, down from $1.05 million in June, though up 5.3% from last year. Statewide, the median price fell 1.6% to $886,560, but was 6.5% higher than July 2023. Sales statewide rose 3.6% from June, remaining below 300,000 for 22 months. The market may see further price softening but is expected to maintain moderate...

Affordable housing permit program ‘helping to bring rental costs down’

San Diego's executive order to expedite the permitting process has led to 2,834 homes receiving permits to enhance affordable housing. Mayor Todd Gloria emphasized the importance of these projects, which are part of a broader initiative to ensure affordable housing for all residents. The city mandates that all income-restricted affordable housing projects be reviewed within 30 days. In 2023,...

Here’s how many square feet $1500 gets you renting in San Diego County

In San Diego County, a $1500 budget for rent yields limited space: 442 square feet in San Diego, 497 in Oceanside, 510 in Chula Vista, and 543 in Escondido. This marks a significant decrease from two years ago, when $1500 could secure 623 square feet in Escondido and 598 in Chula Vista. Experts suggest potential renters consider longer lease terms and the surrounding amenities, as many prioritize...

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