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Housing Affordability a Top Concern for SD

SAN DIEGO—Despite job growth and high innovation, low- and moderate-income workers still can’t find affordable housing, and many are forced to live on the outskirts of the county and commute in, speakers at last week’s Economic Roundtable tell attendees.

Gina Champion-Cain Gina Champion-Cain spoke about innovate real estate concepts for San Diego.

SAN DIEGO—Despite job growth and high innovation, low- and moderate-income workers still can’t find affordable housing in San Diego County, and many are forced to live on the outskirts of the county and commute in, speakers at last week’s 33rd Annual San Diego Economic Roundtable told attendees.

During the second session of the roundtable (to read about Session 1, click here), Deborah Ruane, EVP and chief strategy officer for the San Diego Housing Commission, said there is an alarming lack of affordable housing in the region. “We’re turning in [Section 8] vouchers at about 70 per month.” San Diego’s median area income is $75,300, but housing is very expensive to build. Total development cost per unit is $300,000, and costs continue to rise.

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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