Monthly analysis compares median home price with local incomes. Drop in S.F. housing prices made a difference.
The term, which you don’t hear so much these days, suggests that pay here is comparatively less than elsewhere because people want to live in San Diego. It was often invoked in the sports world, particularly regarding the great Tony Gwynn, who remained a San Diego Padre his entire career even though he could have received more money signing on with another team.
San Diego’s home prices aren’t as high as San Francisco’s, but neither is its household income. That combination pushed San Diego just ahead of its northern counterpart in OJO’s latest monthly ranking. The rise in housing costs has been dizzying, putting houses and apartments out of reach for more and more people. A recent report showed inflation here was above the national average and among the highest anywhere in the country. Electricity and water rates are going up substantially, and then there’s the price of gasoline.
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