DATE:
March 24, 2026
25
TO:
Board of Supervisors
SUBJECT
Title
RESTORING HOMEOWNERSHIP FOR SAN DIEGANS (DISTRICTS: ALL)
Body
OVERVIEW
Homeownership has long been a cornerstone of economic stability and upward mobility in the United States, yet in the County of San Diego, the traditional "American Dream" of owning a home is becoming increasingly unattainable for many young and moderate-income families. As of 2025, according to the California Association of Realtors, only 13% of San Diego County households can afford to purchase a median-priced home. Persistently high home prices, stagnant wage growth, limited housing inventory, and escalating interest rates have combined to push homeownership out of reach for a significant portion of the local population.
In San Diego County, the median price of a home has hovered near or above the million-dollar mark, placing ownership well beyond the financial grasp of most households. As a result, only a small fraction of residents earn enough to afford the monthly mortgage payments required for a median-priced home. This dynamic disproportionately impacts first-time buyers-particularly younger adults and moderate-income families-who face steeper barriers in saving for down payments, qualifying for competitive loans, and successfully navigating a tight and increasingly competitive housing market.
The limited ability to purchase a home has broader implications for economic mobility, workforce retention, community stability, and long-term financial security. When families are priced out of homeownership, they face increased cost burdens in the rental market, reduced stability, and diminished opportunities to build wealth or remain rooted in the communities they serve.
Today's action directs the Chief Administrative Officer to conduct a feasibility study of establishing a County-funded and County-administered pilot program to support first-time homebuyers in the unincorporated area. Owning a home is more than a financ...
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