San Diego Housing Market Ranks 4th Most Expensive in NationFriday, March 22, 2013
San Diego’s housing market was ranked the fourth most expensive in the nation, trailing only Washington, D.C., Brooklyn, N.Y., and the Bay Area in California, according to a recent report from Emeryville-based ZipRealty.
The Los Angeles housing market was ranked fifth most expensive, and Orange County was seventh most expensive on the same list.
The report compared median home prices in 30 metropolitan areas to median household income levels in those cities.
According to ZipRealty, the median priced home in San Diego requires 13.6 times the area’s median income to purchase.
The most affordable cities for buying a house were Dallas-Ft. Worth, Houston, Minneapolis, Orlando, and Las Vegas. All five cities’ median housing price was selling for below six times those cities’ median income, ZipRealty said.
The most recent report from La Jolla-based real estate research firm Dataquick had San Diego’s median priced single family house selling for $359,000 in February, up 17 percent from February 2012’s median price.
— Mike Allen