San Diego real estate draws buyers for its year-round climate, strong military présence, and a diverse economy anchored by biotech, défense, and tourism. The métro median home price sits above $900,000, with single-family homes in established neighborhoods like Mission Hills, Normal Heights, and Tierrasanta commanding premium prices. Condos and townhouses in coastal communities like La Jolla and Pacific Beach start around $700,000 and climb well past $2 million for ocean-facing units.
VA loans, jumbo financing, and HOA fees in San Diego
San Diego is one of the top VA loan markets in the country, with a large active-duty and veteran population at bases including Naval Base San Diego, Marine Corps Air Station Miramar, and Camp Pendleton. VA loans offer zero down payment with no PMI, a significant advantage in a high-cost market. For non-military buyers, jumbo loans are typical, requiring 20% down on most properties priced above the conforming limit.
HOA fees in San Diego vary widely. Planned communities in Carmel Valley and Rancho Bernardo charge $200-$500 per month, while high-rise condos downtown can exceed $1,000 monthly. Investors should note that San Diego County property taxes run approximately 1.1-1.2% of assessed value annually. Cap rates on multifamily properties range from 3.5-5% depending on location and unit count, with the East County and South Bay offering the strongest yields.
