Renters and prospective homeowners hoping to stay in San Diego’s Mid-City area may find it more challenging as exploding home values are quickly outpacing incomes.
A draft city report shows that the median value of a home in City Heights, Kensington-Talmadge, Normal Heights and Eastern Area was $723,000 in 2022, the most recent data cited. In 2000, it was nearly $150,000, making for a 384% increase over the two decades.
Meanwhile, the area’s median income during that time grew from $32,000 to $77,000 — a 142% increase.
The numbers tell a familiar story: It’s becoming more expensive to live in San Diego. For Mid-City, in particular, that’s especially true. Its home values have nearly quadrupled — yet the neighborhoods’ incomes remain lower than the citywide median.
As San Diego continues to grapple with a severe housing shortage, experts say the trend will hurt renters — that’s nearly 70% of Mid-City residents — and that part of solving the problem is by adding more housing.
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