NewsLocal News

Actions

Report: This is what $1 million gets you in the San Diego housing market

KGTV-Default-Image_1280x720.png
Posted at 1:13 PM, Oct 15, 2019
and last updated 2019-10-15 19:55:02-04

SAN DIEGO (KGTV) -- A new report is shedding light on what the typical $1 million home looks like in San Diego.

According to Zillow, $1 million in San Diego can buy a single-family home that has 2,410 square feet, four bedrooms and two and a half bathrooms.

Families in Chula Vista can get more for their money, where $1 million can buy a 3,890 square foot home with five bedrooms and four and a half bathrooms.

RELATED: City fee could be making rents higher in smaller units

In contrast, the same amount of money in San Francisco can only buy a one bedroom condo with less than 900 square feet.

On a slightly lighter note, $1 million can typically buy a 1,900 square foot, three bedroom, two bathroom home in Los Angeles, Zillow reports.

In the U.S., the typical $1 million home is a detached single-family house with about 2,200 square feet with four bedrooms and two and a half bathrooms.

"Owning a $1 million home was once a status symbol, but now, due to escalating home prices, it feels closer to the price of entry for homeownership in parts of the country,” said Cheryl Young, senior economist at Zillow.

RELATED: Study examines San Diego's 'affordability crisis'

That $1 million price tag will go furthest is El Paso, Texas, where $1 million will allow buyers to purchase a more than 7,000 square foot home with five bedrooms and five and a half bathrooms.

The Zillow report looks at 100 cities throughout the U.S. Click here to read the full report.