NewsMaking It In San Diego


Mortgage, rent burden continues to rise in San Diego

Posted at 1:40 PM, Sep 05, 2018
and last updated 2018-09-06 10:48:49-04

SAN DIEGO (KGTV) -- As rent and mortgages continue to rise, San Diegans are increasingly burdened by the increasing cost of living.

A new report from Zillow found that San Diegans are spending more than 20 percent more of their income on mortgages than the national average.

Nationally, people are spending just 17 percent of their income on mortgages. In San Diego, however, residents are spending nearly 38 percent of their income on mortgages, and that’s only for those in the median income bracket.

For San Diegans considered low income, nearly 68 percent of their paychecks are going toward mortgages.

When it comes to renting, the numbers appear even more bleak. Lower income residents in San Diego are spending nearly 95 percent of their income on rent, according to Zillow.

These numbers have risen four percent for mortgages and nearly six percent for rent when compared to the historic share of income spent on housing in San Diego.

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