How do people afford San Diego homes

George Lorimer

Sunday, February 1, 2026

How Do People Afford San Diego Homes?

George Lorimer at 619-846-1244
Your Home Sold Guaranteed or I’ll Buy It!* *conditions apply

Have you ever wondered how people actually afford homes in San Diego?

I keep hearing the same thing:

“Prices are crazy.”
“Rates are still around 6%.”
“I’ll wait until it makes sense.”

Yet like clockwork, every month, over 2,000 people buy San Diego homes.

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The Shift People Keep Missing

Over time, a home valued around $500,000 in San Diego has become worth over $1,000,000. That’s why this question matters.

But here’s what I keep noticing:
No one ever says paying rent is a smart financial move… yet most people keep doing it.

People worry about paying 6% interest on a mortgage — but don’t blink at paying 100% interest on rent every month.

Quick Example (Illustration Only)

Rent: $5,000/month ? $60,000/year (gone)

Buy: $7,000/month ? $84,000/year (but much of it works for you)

It looks like buying costs $2,000 more — until you account for equity + tax impact.

Example only (to illustrate):
$1,000,000 home with a $900,000 loan at ~5.99% and 4% appreciation.

Appreciation equity: ~$40,000/year (4% on $1M)
Loan paydown equity: ~$24,000/year (approx.)
Tax benefit potential: mortgage interest + property taxes may reduce taxable income* Could be as high as $53,400 in year 1 from mortgage interest deduction and $10K, property tax deduction. Consult your CPA from demonstration purposes only.

That’s why people “afford” it: the payment isn’t just a payment — it’s partly wealth creation.

I’m not saying everyone should buy today.

I am saying this: waiting often feels safer — but it can quickly become very expensive in San Diego.

Want to see how this looks for you?

If you share your rent, rough income, and the area you’d buy in, I’ll run a simple “rent vs own” estimate using real San Diego homes — so you can decide with clarity.

Call/text: 619-846-1244
Or start here:

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George Lorimer
Your Home Sold Guaranteed Or I'll Buy It!*

How do people afford San Diego homes

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George Lorimer Your Home Sold Guaranteed Or I'll Buy It!*

How do people afford San Diego homes

George Lorimer
Your Home Sold Guaranteed Or I'll Buy It!*