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San Diego among worst places to buy a home, report says

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Posted at 5:53 PM, Aug 14, 2019
and last updated 2019-08-14 20:53:43-04

SAN DIEGO (KGTV) -- A new report found that San Diego is one of the worst cities to buy a home, but a nearby city may give San Diegans hope.

The report by GOBankRates lists San Diego as one of the 15 worst placed to buy a home in the country.

The site says home prices in San Diego have increased by 1.8 percent over the last year.

In the last five years, home values have grown by a little more than 33 percent.

“The populous city of San Diego may be home to over 1.3 million people, but home values grow slower than some of the smaller, neighboring cities. San Diego only saw home values increase at a rate of 1.8% over the past year,” the site says.

A better option, the website says, is National City, where home values have increased over the last five years by more than 49 percent.

“National City offers a smaller footprint for a better value. The median home value is an impressive $435,500, which is almost $200,000 cheaper than San Diego.”

If you are considering buying in San Diego, there are options. A new housing development is going up in Otay Mesa geared toward first-time buyers.

There's also hope for teachers. School districts around San Diego could begin building affordable housing for employees and teachers struggling to make ends meet.