Why Invest in San Diego Real Estate?
San Diego is referred to as “the birthplace of California” because in 1542, the San Diego Bay was the first spot Spaniard Juan Rodríguez Cabrillo stepped off his ship, claiming the land for Spain. It wasn’t until 1850 that San Diego became officially incorporated as both a city and county.
San Diego is the furthest southern city on the West Coast, bordering Mexico. The city is split in two sections, the larger of which comprises the area both north and east of San Diego Bay with the smaller area extending south until it reaches the Mexican border.
With 1.45 million residents, San Diego is the second largest city in California (after Los Angeles) and the eighth largest city in the US. The city of San Diego is famous for its many tourist attractions such as the San Diego Zoo, the San Diego Wild Safari Park, and SeaWorld, as well as its many sun-drenched beaches located on more than 50 miles of US coastline. It’s also an idyllic location for outdoor enthusiasts with many hiking trails and other outdoor activities available.
The top four industries in San Diego are IT/technology, hospitality, military, and biotech (particularly blue technology such as maritime robotics and wave energy: much of San Diego has a prime location right on the bay). Two San Diego–based companies made the Fortune 500 list: Qualcomm and Sempra Energy, with another five in the top 1,000 (Illumina, PriceSmart, ResMed, TeraData, and AMN Healthcare Services).
Market Highlights
- Ranked #1 in concentration of military/defense assets in the world; military jobs account for 22 percent of all jobs in the region, boasting a $51-billion-dollar industry in the region (San Diego Military Economic Impact Study, 2019)
- Population in the city has grown over 9.5% in the past eight years (2010–2018)
- Just less than half (46.9%) of residents live in owner-occupied housing unit (2014–2018)
- Ranked #45 in Forbes Best Places for Business and Careers (the top in Southern California)
- Median home value in San Diego County is $600,560, compared to the national average of $243,225 (Zillow)
- The median home value is expected to increase by 1.8% in 2020, compared to the national average of 2.2% in the next yearRanked #2 Best Places to Visit in California by U.S. News and World Report (supported by a large hospitality industry)
- University of California San Diego ranked #37 and University of San Diego ranked #91 in National Universities (U.S. News and World Report)
- San Diego has more than 80 educational and research-based institutions
- Nine San Diego Unified School District schools were included on the 2020 California Distinguished Schools list.
North San Diego
In the northern area of the city, find suburban neighborhoods such as Black Mountain and Carmel Mountain Ranch, Scripps Ranch, leading all the way north to Rancho Bernardo and San Pasqual (with great mountain and valley views). Median home values in Rancho Bernardo are similar to the city average of $640,000. As you travel west to the ocean, Del Mar median home values can reach nearly $2 million.
- San Diego Wild Animal Park is an 1,800 acre zoo, located in San Pascual Valley, that is a famous tourist destination
- Torrey Pines Reserve lies on the Pacific Ocean, featuring 1,750 acres of unspoiled land (protecting the Torrey Pine, the US’s rarest pine tree, as well as other SoCal plants, trees, and flowers)
- Del Mar South Beach is two miles of family- (and pet-) friendly sand, bordering Solana Beach on its north side
Central San Diego
Central San Diego includes some of the city’s most popular neighborhoods, comprising the areas north and east of the San Diego Bay, leading up to the La Jolla and University neighborhoods. San Diego’s downtown area sits right on the San Diego Bay and is a great place to sit back and relax while taking a whale-watching cruise, or to enjoy the many arts and entertainment venues, restaurants, and cultural activities.
With its location steps from the Pacific Ocean, La Jolla home median home values average $1.5 million. Home pricing decreases as you move inland, with homes in Serra Mesa averaging in the $700,000s. This area of San Diego boasts some of the best schools in the city within the San Diego Unified School District.
- Balboa Park includes more than 1,200 acres of gardens, museums, and recreational facilities, and is home to the San Diego Zoo.
- Home to Mission Bay and its world-famous South Mission Beach just north of the bay entrance from the Pacific Ocean
- Pacific Beach is another popular beach destination
- USS Midway Museum in Downtown is a historical naval aircraft carrier located at Navy Pier
- Petco Park, located in Downtown San Diego, is home to the MLB’s San Diego Padres
- Old Town San Diego features a mile of restored buildings dating to the first European settlement in the state of California
South San Diego
The area of south San Diego encompasses the diverse, suburban neighborhoods south of the San Diego Bay leading to the Mexican border, including Otay Mesa, Otay Mesa-Nestor, Tijuana River Valley, and San Ysidro. Together, these neighborhoods are home to about 130,000 of San Diego’s 4.5 million residents. Home values in the area average about $250,000, some of the lowest in the city.
- San Ysidro is about 10 miles south of Coronado’s popular Silver Strand Beach
- Tijuana River opens to the Pacific Ocean and is 120 miles long
- San Ysidro is home to one of the busiest US/Mexico border crossings
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