San Diego – 2007 Median Family Income

[SD Transplant]

Per a CNNMoney article “The Most Affordable U.S. Housing Markets”, it shows San Diego in the 207th spot in the US as the most(or least) affordable city, with a 2007 Median Family Income at $69,400(see the entire article link below)

http://money.cnn.com/2007/06/28/real_estate/most_affordable_housing_markets/index.htm?postversion=2007070114

I have not done any research in quite sometimes vis-a-vis San Diegan’s incomes. However, my interest resides with the various financial stakeholders surrounding the RE industry:

1) What figures (SD income information) are RE developers analyzing when building in a specific area (target marketing)??? Average/Median Family income? Household income?

2) What figures (SD income info) are banks/lenders considering when qualifiying a loan (and this ignores the sub-prime/exotic loan fiasco from the last few years – I’m talking basics)

I guess I’m trying to see the various possibilities of “income” that RE stakeholders would view from their own prospectives to see if their deals are feasible. With such various income figures (stats), the projects sold to an investors’ meeting could be severally stretched,when the stakeholders donot compare apples to apples.

Also, do you guys have any links handy (that you use in your business) for San Diego “Family Median Income”. I am just curious to see a trend and adjust that for inflation. I do know anecdotally wages are flat if not declining, but I am curious about the practices in the these markets & some historical stats.

Thanks a bunch

[nla]

http://www.sandag.org has data for 2000 census, current estimate as well as future estimate. Though their data is not “family income” but “household income”. You can query by city or zip code.

[nla]

http://www.sandag.org has data for 2000 census, current estimate as well as future estimate. Though their data is not “family income” but “household income”. You can query by city or zip code.

[sdrealtor]

I would think they could care less about median income numbers. What they should be looking at is the count of households with specific incomes/net worth in the immedaite as well as feeder areas.

[sdrealtor]

I would think they could care less about median income numbers. What they should be looking at is the count of households with specific incomes/net worth in the immedaite as well as feeder areas.

[Author]

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