San Diego is one of the most sought after cities with the highest household wages
San Diego is one of the top metro’s for the amount of net inflow of new residents looking to move to in the nation.
January 16, 2019
- According to Redfin, a residential real estate website’s analysis on migration trends, San Diego is one of the top metro’s for the amount of net inflow of new residents looking to move to in the nation. The company also showed it had about a 25 percent search rate for people searching to move to San Diego from outside the market. Other California top core markets are feeling the pinch from the high cost of living and unaffordability of housing, therefore are starting to experience a net outflow of people looking to moving out of the metro. San Francisco leads the net outflow of people looking to leave the metro with 28,143 in Q3 of 2018.
- Compared to other top net inflow markets, San Diego has the highest annual household wages compared to other markets that people have a desire to move to. San Diego average wages saw an uptick by nearly 3 percent in the last 12 months due to the expansion of defense, life sciences, and technology companies. With 2018 having an unemployment average of just above 3 percent, the job market is tight with more and more high qualified jobs coming available. From all the top metros for net inflow of people looking to move in, San Diego not only has the highest wages it also has the one of the highest forecasted growth rates at 16 percent over the next five years.
Source: JLL Research, Redfin, Esri, BLS