Photo: Kimpton Hotel Palomar
San Diego Neighborhoods:
Downtown
San Diego is a large and diverse area with many varied neighborhoods within its borders. But which one is right for you to call home?
This week on the San Diego Real Estate BLOG, we continue our series of BLOGS that will look at each of these neighborhoods in turn to help you decide which is the best fit for you as search for your San Diego Dream Home!!!
Today we head (sing it with me…) Downtown.
Location
Downtown is the beating heart in the center of the city of San Diego, it is situated along the Eastern side of the San Diego Bay, and is bordered on the North and East by the 5 Freeway and the San Diego Bay on the South and West.
Demographics
Downtown actually has a very small resident population of only 34,550 which accounts for less than 1% of the entire population of San Diego county. However, during the work day, there are more than 80,000 employees that work in the Downtown area. And a recent survey of San Diego residents suggests that Downtown is a primed for a residential expansion as Baby Boomers are set to retire and downsize in record numbers and many of them are looking to move somewhere more walk able. Downtown is the Civic, Cultural, and Business center of the entire coutny.
The median household income is $76,662 per person per year.
Geography
The geography of Downtown is relatively flat except for the slight hill on the East Side of Little Italy.
Downtown is one of the largest employment centers in the county with an average of just a little over 81,000 employees working in the area during regular business hours.
Downtown is split up into 7 distinct areas. From Northwest to Southeast they are: Little Italy, Cortez, Columbia, Civic Core, Gaslamp, Marina, and the East Village. Each area has its own feel and specialty. Look for another San Diego BLOG entry in the near future where we dive deeper into each one!!!
Real Estate Market
The Downtown San Diego real estate market is comprised of almost entirely of Town homes, Condominiums, Apartments, and Penthouses. There are a few Single Family Detached homes to be had but they make up less than 1% of all Downtown home sales so far this year. The whole width and breadth of housing types is represented from smaller detached homes, to average sized condos, all the way up to lavish ocean view penthouses that go for several million dollars.
Downtown San Diego has a median home price of $535,000
General Info
Downtown San Diego is booming, and it is set to continue booming. Already the eighth largest city in America, the population continues to increase every year. Downtown in home to every concievable type of business from Fortune 500, to service, to tech, to hospitality, to up and coming Start Ups. As mentioned early, the baby boomers are set to retire and many are looking to downsize to somewhere they can walk to everything they need. Downtown fits this bill exactly.
If you are looking for single family detached home to raise your family of 4+, Downtown may not be the best fit for you, but if you are in the service industry or a Professional looking to avoid a commute and live where you work all while having access to the the very best that San Diego has to offer, Downtown may be right up your alley.
If Downtown San Diego sounds like a good fit for you and you would like help finding a home here, our Buyers Agents Svetlana, Dianna, and Linda would be happy to help you find YOUR San Diego Dream Home.
Thanks for reading, and we will see you next month!!!
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