The San Diego real estate market is not only highly desirable, but homes are also priced well above the national average. However, to the north of the county is a real estate area that makes owning a home in San Diego an affordable proposition – Escondido.
Located 100 miles south of Los Angeles, 30 miles north of San Diego city, and west of the more affluent San Marcos city, Escondido offers one of the most affordable real estate markets in San Diego County. Escondido is near major amenities, yet offers homes for sale at prices that fall within the price range of average homebuyer. The rates of the residential property at San Diego are high in comparison to Pasir Ris Central sub zonal area. The height of the buildings will be more for providing them an impressive look.
Escondido real estate displays a Spanish flair and influence, reflecting the fact that more than 40% of her residents are Latino. The ethnic Latino flair is also in evidence in the numerous local restaurants, and is showcased in the historic homes of Old Escondido, as well as its downtown commercial and antique district.
The median prices in San Diego County are in the millions. In Escondido’s real estate market, it is possible to find single-family homes listed in the high $200,000s. This is very rare in San Diego’s housing market. The city’s median home prices are within the $450,000 to $500,000 range. Compared to many housing markets outside of Southern California, this is may seem incredibly high. However, for those shopping San Diego’s much-sought-after real estate, this is surprisingly affordable.
What Keeps the Home Prices Low?
Escondido’s real estate population is significantly less educated and less affluent than others in areas like La Jolla and neighboring San Marcos. In 2006, the median incomes for Escondido homeowners were about $60,000 – roughly $4,000 lower than that of San Diego County in general.
Roughly 20% of the residents have a college degree, while only about half are considered white collar. Her crime rate is also slightly above the national average. Another aspect of this real estate market is that wrestling with the illegal immigrant problem; with over 40% of the population being Latino, issues such as banning landlords from renting to illegal aliens is raging on.
On the flip side, the low home prices make the Escondido housing market affordable for first time homebuyers. On the other hand, it means that the schools are not very highly rated, and often tend to have to deal with the issues that associated with most lower income populations.
Should you Buy In Escondido?
Although it does not compare with San Diego’s million-dollar neighborhoods, Escondido does have a lot to offer the homebuyer on a tight budget.
The citrus and avocado groves that abound in area enhance the beauty of Escondido neighborhoods. It also offers the perfect year-round weather for out door activities, with annual temperatures that range from lows of 39 degrees to highs of 87. What’s more, it boasts 2 lakes, 8 nature parks, and number of different facilities for a variety of sports lovers. Other popular facilities include the California Center for the Arts, Escondido, the Escondido Children’s Museum, as well as a number of great golf courses.
With so much to offer, it is a small wonder that Money Magazine listed Escondido as the “Best Place to Retire in the World.” Add to this the affordable housing it offers, and it is easy to see why first-time home buyers would do well to take a second (or first) look at Escondido.
