Study: Housing in San Diego suburbs cost more than downtown

Study compares mortgage and child care costs
Posted at 6:37 AM, May 23, 2018
and last updated 2018-05-23 16:05:45-04

SAN DIEGO (KGTV) - A new study found that living in San Diego's suburbs could cost more than living in the city.

The study, by Zillow and looked at the costs of mortgages, property taxes and child care to see which are of town is less expensive. San Diego is one of the few cities where the city costs less than the suburbs.

The numbers show it costs about $4,500 less to live downtown. Here's the breakdown from the study:

Child Care Costs (2 kids):       $21,398
Mortgage & Property Taxes:   $30,996 (avg of 1,633 sq ft)
Total:                                       $52,394 

Child Care Costs (2 kids):     $20,036
Mortgage/Property Taxes:     $27,803 (1,336 sq ft)
Total:                                     $47,839

Local realtors say they're not surprised by the study since neighborhoods in the suburbs tend to be newer and have bigger houses and more land. They caution, though, that anyone looking to buy should take several other factors into account.

"What's more important to you?" asked realtor David Spiewak from Coldwell Banker. "Is space real important to you? Do you want a neighborhood feel? Or is it walkability?"

Spiewak also said you should compare HOA costs in complexes downtown to some of the incidental costs of owning a home.

"Things like security, cleaners, landscaping and part of roof maintenance are included," he said. "Some also take care of partial liability insurance."

Realtors also say to look at neighborhood schools and crime rates.

Other cities in the study had significant differences between the cities and suburbs. New York City was more than $70,000 per year higher to live in than the 'burbs. In Chicago, it was more than $18,000 a hear higher in the city. 

On the other hand, Philadelphia's suburbs cost about $13,000 more to live in than downtown. Baltimore, Las Vegas and Phoenix were other major cities where the suburbs were more expensive.

To see the full study, click here.