"Comparing Home Affordability in Major US Cities: San Diego, Portland, Atlanta, and More"

A new report from Zillow reveals that San Diego families need an annual income of nearly $275,000 to afford a mortgage on a home, nearly double the pre-pandemic amount. With housing costs outpacing wage increases, only 18% of households in San Diego County make enough money to comfortably afford a home. The average monthly mortgage payment in San Diego, including insurance, property taxes, and maintenance, is $5,757 after a 10% down payment, requiring an income of at least $273,613. Hopeful homeowners are getting creative by relying on family for help, "co-buying" a home, or buying with the intent of renting out a portion. Alternatively, moving to cities with lower income requirements, such as Pittsburgh or Memphis, may be an option.