Housing Scorecard Shows Affordability to Worsen by 2020

The significance of San Diego’s housing crisis has the attention of the region’s elected, business, and community leaders. And for good reason: it’s getting worse. Housing affordability and accessibility are a major bottleneck for the region’s growth and development.

A new report by the San Diego Regional Chamber of Commerce and Greater San Diego Association of REALTORS® shows that the situation is growing even more dire. The “Housing Scorecard” compares the progress of each of the 18 cities and the County of San Diego in permitting the construction of new homes and provides an accurate depiction of how the housing market is impacting San Diegans.

 

Key findings include:

  • The San Diego region as a whole is on pace to produce only 50 percent of the units needed to accommodate population growth
  • Of the four income categories – very low, low, moderate, and above moderate – only the “above moderate” category is seeing close to adequate production to meet the need
  • The City of San Diego is by far producing the most units, although they are only on pace to produce 51 percent of new units by 2020
  • Only four of the 18 cities are building enough units to meet the need – Coronado, Lemon Grove, San Marcos, and Vista
  • Many cities have not built any units in the very low, low, or moderate income categories

The report also explores the impact of the housing affordability problem, revealing two key takeaways:

  • Families and seniors are being pushed out of California
  • California does not have the influx of Millennials that our competitor states do

 

To read the Housing Scorecard, visit www.sdchamber.org/housing-scorecard.